M2D1: The Ethical Dilemma in International Business
International business refers to a wide range of business activities carried out across national borders. The globalization of markets, which is an ongoing economic integration and interdependence of countries worldwide, coincides with the growth of international business. In this activity, you will have a chance to discuss your views on ethics in international business.
For this discussion activity, respond to the following prompts:
Explain why one should be ethical when operating an international business.
Although ethics is not the same as self-interest, can one always do well, by doing good? In other words, can one be successful in business (monetarily) solely by doing good (morally)?
If a business’s ultimate objective is to make the world better, explain how this could be best achieved ethically.
Post a 2 to 4 paragraph discussion post (300 words minimum). Justify your explanations by including in-text citations and your references in APA format as applicable
Ethics should be upheld by all businesses regardless of whether they operate on a local or international level. Every enterprise should strive to make ethics the hallmark of its operations, Anyanwu and Nweake 2014 argue that maintaining ethics in a business setting serves to meet clients’ expectations towards the business as well as improve the institution’s relations. Therefore when operating in international business, being ethical would promote the growth of the company through strengthened relations. For personnel operating in international companies, ethics must be highly upheld since complex ethical issues surround international businesses. Ethical challenges differ from one country to another and thus as an employee of a global business, upholding ethics would reduce the possibility of receiving penalties due to breaking corporate laws of ethics.
Most business startups are initiated with the intention of maximizing profits.it is possible to argue that the sole purpose of an enterprise is to increase its revenue. However, it would be morally wrong to overlook the means by which these businesses achieve the ends since the repercussions of dubious methods to earn profits tend to affect the public highly. Doing what is good is more of an obligation than a choice; therefore monetary success in business is possible by solely doing what is right. The purpose of a business is to impact a positive difference in the world, hence if the business is unable to achieve monetary success by solely doing what is good, then that would contradict the objective of the enterprise.
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