Chapter 4 Notes

Chapter 4 Notes - Mos1020AFall2009RaymondLeduc ReadingNotes

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Mos 1020A – Fall 2009 – Raymond Leduc Reading Notes GLOBAL BUSINESS TODAY 2 nd  Edition, CHAPTER 4 – ETHICS IN INTERNATIONAL BUSINESS     The circumstances that affect ethical considerations in the new millennium are are  circumstances caused by drastic changes in the: o Political environment  and the consequent laws and regulations that are established  (e.g. Bill S-21) o Social-cultural environment , which has been influenced by immigration patterns  worldwide and a continued movement of populations from rural to urban areas o Technological environment , which has affected communications regionally and  globally and also affected the work environment and productivity o Economic environment Currency fluctuations International NGOs (World Bank, IMF) playing a more significant role in national  and regional economies o Competitive environment Causing companies to make decisions in a global context Resulting in actions that sometimes negatively affect their employees or  customers There is pressure on companies to behave ethically o Media (CNN, youtube, etc.) o Politics
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Ethics  – accepted principles of right or wrong that govern the conduct of a person, the  members of a profession, or the actions of an organization Business Ethics  – accepted principles of right or wrong governing the conduct of  businesspeople Ethical Strategy  – a course of action that does not violate a company’s business ethics Ethical Issues in International Business     Many are rooted in the fact that political systems, law, economic development, and culture  vary significantly from nation to nation o What is considered normal in one nation may be considered unethical in others Most common ethical issues in the international business setting: o Employment practices o Human rights o Environmental regulations o Corruption o Moral obligation of multinational corporations These ethical issues are intensified by fast moving developments due to  technological advancements TECHNOLOGICAL ENVIRONMENTS     o Technological advancements can remove ethical dilemmas E.g. in  November 2007, it was discovered that medical researchers could give  human skin cells the characteristics of embryo stem cells Less controversial Removes conflict
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EMPLOYMENT PRACTICES     o When work conditions in a host nation are clearly inferior to those in a multinational’s  home nation, what standards should be applied? Those of the home nation, those of the host nation, or somewhere in between?
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This note was uploaded on 03/22/2010 for the course MOS 1020 taught by Professor Leduc during the Fall '09 term at UWO.

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Chapter 4 Notes - Mos1020AFall2009RaymondLeduc ReadingNotes

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