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In: Economics

Recognize the ethical and social responsibilities of multinational firms operating in a global market.

Recognize the ethical and social responsibilities of multinational firms operating in a global market.

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Expert Solution

IT IS IMPORTANT FOR MNC TO HAVE ETHICS AND SOCAIL RESPONSIBILITIES WHEN WORKING IN A PARTICULAR COUNTRY AS:

1. IDENTIFY WITH LAWS OF THE WORKING COUNTRY

2. IDENTIFY WITH THE CULTURE OF THE WORKING COUNTRY.

3. RECOGNIZE DIFFERENT SOCIAL AND ETHICAL PRACTICES WITHIN THE COUNTRY

MNC ARE LIABLE IF THEY ARE VIOLATING HUMAN RIGHTS AS ETHICALLY IT IS EVERYONES RIGHT TO HAVE TO WORK AND LIVE UNDER CERTAIN DECENT CONDITIONS AND THEREFORE EACH ANDC EVERY MNC MUST RESPECT THAT AND MUST COMPLY WITH AS FIRMS WILL ALWAYS GO TOWARDS COUNTRIES WITH LOW WAGE LIKE NIKE IN INDONESIA WAS PAYING PITTANCE TO THEIR THERE AND WORKING CONDITIONS WERE POOR AND SINCE THE PEOPLE DIDN'T HAVE ANY OTHER WORK THEY WERE WORKING FOR NIKE AND AS FOR THE RECOMMENDATIONS IS THAT WE MUST TREAT OUR WORKERS LIKE PARTNERS AND TAKE CARE OF THEM AS WHEN WE GIVE IMPORTANCE TO WORKER HE OR SHE WILL WORK FROM THE HEART GIVING HIS SOUL AS EMOTIONAL CONNECTIVITY TO THE WORK IS IMPORTANT.

Rahul Sunny answered 2 years ago
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