In: Economics
International business ethics:-International business ethics are moral principles that should be applied by businesses all around the world. If we consider the term business ethics to mean a moral code applicable to businesses, then "international business ethics" refers to such a code that can be applied around the world. All the international companies are intrested in following the business ethics. The maxim" ethics in business" must be global not local. Business ethics should be steadfast and universal no matter where you are in the world.
The relationship between ethics and international business is extensive and is impacted by local perceptions, values, and beliefs. The field of ethics is a branch of philosophy that seeks virtue and morality, addressing questions about “right” and “wrong” behavior for people in a variety of settings; the standards of behavior that tell how human beings ought to act. is a branch of philosophy that seeks to address questions about morality that is, about concepts such as good and bad, right and wrong, justice, and virtue. Ethics impacts many fields not just business including medicine, government, and science, to name a few. We must first try to understand the “origins of ethics whether they come from religion, philosophy, the laws of nature, scientific study, study of political theory relating to ethical norms created in society or other fields of knowledge.” The description below on the field of ethics shows how people think about ethics in stages, from where ethical principles come from to how people should apply them to specific tasks or issues.This approach will be used in this chapter to help you understand global business ethics in a modern and current sense. As with this chapter’s review of culture, this section on global business ethics is less about providing you with a tangible list of dos and don’ts than it is about helping you understand the thinking and critical issues that global managers must deal with on an operational and strategic basis.
The developing countries are also moving farward to establish business ethics in their respective companies. Business ethics is an important tool to expand the business through out the country. The utmost importance that business ethics should become an integral part of business culture and also therefore in developing countries. it is not to be denied that business ethics has to a much larger extent become part of business culture in both devloped and devloping countries. Business ethics is infact fighting an uphill battle in becoming an integral part of business culture in developing countries. It helps in developing moral business in developing countries. In order to achieve these goals the focus is on many developing countries like india, Africa, Indonesia etc
Examples of Ethical Behavior in the Workplace:-
A. Putting Customer Needs First:- Companies that build their workplace culture around putting customer needs first and hiring people who engage in this behavior are participating in ethical behaviors. For example, if a customer comes into a store looking for a product that meets very specific needs, it's important to provide them the best product for the situation described instead of upselling them or encouraging them to buy a product that won't meet their needs. However, it is important to ensure that the "customer first" attitude does not unintentionally result in the unethical treatment of employees -- such as encouraging them to work more overtime than allowed, forcing them to endure abuse from customers with no safe way to escape the situation, and more.
B. Being Transparent:- Transparency and clear communication is paramount when it comes to ethical workplace behaviors. Employees and consumers alike should never be lied to or told untruths, as this breaks trust within the business. For example, when faced with a public relations crisis, companies should call a meeting and address the problem directly with their employees. It's important to truthfully describe the situation as it unfolded, present solutions, and accept criticism humbly.
C. Prioritizing Workplace Diversity:- Part of being fair is providing everyone with an equal opportunity to be employed at the company. While there is much political debate around how to create workplace fairness, it is undeniable that providing equal opportunity for employment to every applicant is an ethical standard. For example, if someone notices that management tends to hire the same type of person, they may suggest getting employees more involved in the hiring process. This will introduce different perspectives to the hiring process and increase the possibility that different kinds of applicants will be selected for a position.