Question

what are the main issues that have arisen out of the international context of business, that are changing business ethics nowadays"

Answer 1

-Business ethics are an important subject when a company decides to expand internationally. Business ethics can differ in many ways between countries and industries. Some companies strive to be the gold standard for business ethics in their industry, while others do the bare minimum that is legally required. With the globalization of business, companies need to establish policies and practices both domestically and internationally with respect to business ethics.

-When a company goes abroad, it often discovers that business practices that would be illegal, or at least frowned upon, at home are often allowed or unofficially tolerated. In many Latin American countries, for example, bribery and kickbacks are a regular part of doing business. In some Asian nations, insider trading is not a crime.

Ethical Dilemma

-Two approaches can be taken when doing business in foreign countries. A business can operate internationally with the policies and procedures it has developed at home, or it can adopt its own practices to the norms of each foreign country where it operates.

A.Establishing the same standards in offices worldwide can be advantageous to ensure compliance throughout the entire organization. Management and workers are less likely to engage in risky and illegal behavior if it is explicitly forbidden in a company’s written policies and procedures. Companies can ensure compliance by mandating that its workers read and sign its policies and procedures and successfully complete an annual quiz.

B.The second approach is for a company to establish different policies and procedures for business ethics in foreign countries. Different countries have different country risks. In some countries, child labor is acceptable and normal, but is frowned upon in the United States. If a multinational company is discovered to have used child labor, it could end up being a public relations nightmare and lead to a decline in domestic sales.

-International business ethics are moral principles that should be applied by businesses all around the world. These are values that can be universalized, and examples include not acting fraudulently, not stealing other company's property or ideas, and not embarking on marketing campaigns that would involve lying to customers.

-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.

-To help you address differences in international business ethics, here are six things each business owner needs to know for doing business in a global economy:

1. Know the laws

2. Pledge to follow international business guidelines

3. Develop a unified strategy.

4. Communicate clearly and understand the differences.

5. Put the company guidelines into practice.

6. Assess and acknowledge differences