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Chapter Four - Business Culture, Ethics & Social Responsibility

Chapter Four - Business Culture, Ethics & Social Responsibility

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Chapter Four Business Culture, Ethics & Social Responsibility
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Ethical issues in international business Business ethics refers to accepted principles of right or wrong governing the conduct of business people Note: business ethics go beyond laws (why?) Ethical issues in international business often arise naturally from differences in societies political economies and cultures one obvious cause is differences in legal systems and laws Any decision that affects the welfare of other people is potentially an ethical issue Every issue can become an ethical dilemma when every possible solution has mixed (i.e. good and bad) consequences Few decisions in business are black and white, most reside in a gray area Ethical decision-making is ultimately about sound decision making
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Business ethics and the “Global Citizen” We have already discussed how globalization – by its very nature – can result in cultural change. Globalization and change can also introduce ethical issues Global Citizens ” refers to individuals and organizations with a keen awareness of the implications of their activities on both local and global societies Companies (implicitly or explicitly) adopt a position on global business ethics – the set of principles and standards that guide overall business decisions in each country in which the company operates corporate ethical relativism recognizes that morality and hence ethics can vary from country to country
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