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* Business Ethics “Do unto others as you would have them do unto you” Ethics is very much a legitimate business tool. - Discuss * Business Ethics What are the meanings of ethical concepts like good and right? Can these concepts be defined What processes can a person use to reach a conclusion about an ethical dilemma? On what can this conclusion be based. Do ethical dilemmas have answers that will be usually accepted as right, proper and appropriate. * Factors influencing Ethical Behaviour Business Environment Organisation Culture Individual Values and Customs Religion Politics Finance Geography Social Circumstance * Encouraging Ethical Behaviour Code of Ethics Ethics Committee Ethics Legislation * Multinational Companies(MNC) and the Global Environment Change scope and nature of USA based multinationals Face challenges of operating in new world of business Corporate legitimacy MNC and host country philosophy MNC and host country challenges Cultural differences Business and government differences * Seven Moral Guidelines for MNCs Inflict no intentional or directly harm Produce more good than bad for the host country Contribute to host country’s development Respect the human rights of their employees Pay their fair share of taxes Respect local cultural beliefs that do not violate moral norms Cooperate with the government to develop and enforce background institutions * Four Actions for Improving International Business Ethics 1. Create global codes of conduct Global codes and standards set by corporations Global codes and standards set by international organisations * Four Actions for Improving International Business Ethics 2. Integrate ethics into a global strategy 3. Suspend activities in host country 4. Create ethical impact statements * Ethical Standards Based on the expectation of: Society Culture Group Firm Individual’s personal value system(this varies from culture to culture and country to country) * Corporate Responsibility Accountability Business
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