The growing importance of business ethics

The growing importance of business ethics This essay discusses the growing importance of business ethics in todays business world. It identifies and analyses the dilemma the multinational corporations are facing and the standards and principles they need to apply when facing these situations. It also identifies how a companys code of conduct can help it to achieve its ethical standards in its global market and create an image of a responsible company providing fair working environment and high ethical standards. In addition, It critically discusses the role and responsbilities that how an MNC can encourage ethical business practice in todays complicated and competitive business environment. The business world is becoming a global village. Various countries markets are becoming available to foreign investors and companies, this allows companies to go across the international borders to do business. It also results in greater competition and opportunities. Many companies become multinational corporations in this process. Multinational corporations are active and important players in todays international business. MNC refers to firms that have extensive and intensive involvement in global market, it also refers to firms that engage in foreign direct investment and own or control resources and activities in more than one country MNC generally coordinate their activities from a central headquarters, but may also allow their affiliates or subsidiaries in foreign markets considerable latitude in adjusting their operations to local circumstances. Businessmen nowadays are not merely satisfied with their home countrys markets and will go overseas to gain a market share in its global business. This leads to globalisation. Globalisation is defined as the expansion and deepening of ties across national borders, has gained ground in all aspects of the business environment. (Morrison, J 2006, p448) It enables individuals, corporations and organisations to reach around the world farther, faster, deeper and cheaper than ever before. It is the product of a particular form of governance rooted in the domestic political economies of the early industrialisers. (Prakash, A Hart, J 2000, p32) Some people argue that globalisation enables firms from developed countries to increase unemployment rate from their home countries by transferring job opportunities to a foreign country with low labour cost and serious environmental protection issue. According to the law of comparative advantage, the citizens of each nation can gain by spending more of their time and resources doing those things where they have a relative advantage. (Carbaugh, R, 2007, p14) Success in international trade comes from the interaction of four country-and firm-specific elements. Porters national competitive advantage Porters Diamond Factors conditions Includes not only land, labour, capital factors, also include factors such as educational level of workforces and infrastructure of a county Demand conditions A large and complicated domestic consumer demand would enable the country and companies to compete more effective and more competitively advantaged with other countries. -Related and supporting industries This includes industries supporting the main industry of the country. For instance, Swedens strong paper industry enables its country to have a strong truck manufacturing industry such as Scania. -Firm strategy, structure, rivalry This factor recognises the positive aspect of competition. Thus government might establish an environment that fosters such factors. The problem of international resource allocation, determinants of the pattern of world trade, and gains from trade, all relate to trade, profits and benefits. (Meier, G 1998, p417) However, when a MNC explores its foreign markets, there are cultural and ethical barriers. A MNC will have to encounter a variety of business practices, moral behaviour, ethical standards and cultures which are quite different from their home country. . The main dilemma is MNC are required to use more than their corporate code of conduct, they are also encouraged to apply a higher standard level of ethical business practice. Ethics are defined as the process of distinguishing the right and good from the wrong and bad, and they imply a moral duty to pursue the good and the right. Business ethics is the good or bad behaviour companies carry on in their business. It shows that business should act responsible rather than just seeking profit and economic gains. It forces the companies to adapt themselves in a more ethical and morally correct behaviour and enable companies not only consider profits also have to take the whole society into consideration such as environmental issue. A companys code of conduct sets out what a company can do and what a company cannot do. It establishes a level of business ethics when it operates both in host and home country. A MNCs ethical behaviour should be consistent in its global market. MNC should apply laws and ethical standards at home country and foreign markets where they operate. It should be followed consistently anywhere the MNC has its international business. A universal business ethics standard should be enforced for a MNC to the all the counties where it operates. Its ethical values and integrity should not be changed or damaged to pursue an economical gain or profit. The most important thing is that right ethical vales must be applied in anywhere in the world where the corporate operates its business no matter where it is. A good corporate code of conduct should have the following characteristics: a uniform standard of ethics in its global market set it as high and as practical as possible apply the code of conduct strictly and consistently employees should be fully aware of the code A strong code of conduct would assist a company to gain respect and support from its customers, local authorities even its competitors. To achieve success in todays competitive environment, a MNC should adopt a global standards and a common set of values which it can apply to everywhere it operates business. Besides establishing an ethical culture of a company, a good conduct code will also help the company to create an image of responsible and fairness in its global market. Moral principles might become a minor issue when a company explores its opportunities in a country where laws are not strong enforced and a fragile legal system exists. MNC might adopt a lower standard of moral behaviour in foreign countries where laws are not restrictive as in their home countries. The questions for MNC might be: Are we still going to stick into our principles? Are we going to accept and adapt ourselves to principles and standards that are lower than ours? A recent case is that Levi Jeans. It exited Chinas jean market a few years ago because of its notorious human rights records. The violation of human rights in China makes Levi in a dilemma whether it continues to operate in China or not. However, its global high standard of business ethics make it exited this major market because they cannot lower their moral standards so as to gain pure economic profits in China. In the world of business ethics today, the impact of ethical standards on MNC activities is becoming more and more important. As business ethics becomes more integrated into activities, we must pay attention to the risk of applying ethical standards from the home country to host country where MNC operates. For example, should an American company apply the same ethical behaviour and standard to a developing country such as Thailand? MNC also have to consider how to respect the local culture and apply to the ethical standards of the host country. An important problem for corporations is how to define ethical and unethical behaviour in a variety of countries. In todays world, the behaviour seems difficult to define and distinguish. If MNC apply correct behaviour, it would increase its image and reputation of good corporate governance, otherwise they will damage their reputations in its global market. As differences in the nature, methods, and scope of regulation highlight variations in models of economic organization, these can tighten trade tensions (Pollack, M Shaffer, G 2001p179) The more MNC interacts in a foreign market and country, the more they are going to testify whether their own values and moral judgment are right and absolute since the standards varies from one country to another. However, MNC should be aware that cultural differences and local traditions can be so different that they are contrary to MNC standard in their home country to a large extent. An MNC is usually expected to find itself unprepared in dealing with ethical behaviour in a foreign country. Even if the problems are the same in a foreign country, the ways to solve it might be different. A typical example here is gift-giving. In many countries and cultures, gift giving is allowed and tolerated. For example, in Japan, give giving is not unethical and often encouraged. It represents a kind of relationship between business and business or business and governments. This is quite different from the perspective of western society or ethical standards. This clearly illustrates the importance of nature of differences between different counties and cultures when evaluating different practices, while MNC have to consider whether it complies with its global ethical standards and principles. The main ethical dilemma here is what kind of ethical behaviour should MNC adopts when values conflict with another. Should a company invest in a country where weak labour laws exist or environmental issues are not considered seriously? Or should a company invest in a country where bribery is a common practice? Business ethics can help employees to be prevented from exploitation by profit seeking companies. It is quite clear that some activities are unethical and would not be tolerated no matter where it happens. For instance, forced labour should not be allowed in anywhere in the world. A recent case is that in Thailand, almost 200 people were killed in an international toy manufacturing factory. The cause of the deaths not only pointed to the ineffective sprinkler system, it also because the management level the facotory locked employee in the factory and eventually caused 200 deaths. This kind of behaviour should not be allowed and tolerated in any ethical standards and norms. Responsibilities of MNS to encourage ethical business practice Bribery issue There are two kinds of corruptions: State Capture Individuals, organizations, corporations exercise their power to influence the formation of regulations and policies to benefit themselves to some extent, usually achieved by bribing government officials Administrative corruption Government official use their power and influence to force companies, individuals, groups to pay certain fees by distorting laws and regulations. MNC will often encounter different practices, standards of business behaviour and cultures. They might face the situation that whether to bride a local government official in order to obtain a business contract or deal. A major and common problem in todays international business is how MNC can deal with bribery. In theory, there is no any country on this planet would allow businessmen to bribe government officials and officials are not allowed to take bribe offered by a businessman. However, in practice, this happens quite often. Corruption is a mutual mechanism. Corruption will never happen without demand and supply. Many MNC said that they would not accept and tolerate any kind of bribery. They would prefer not to compete for the business contracts if bribery has to be taken in the whole process. In many developing and less developed countries (LDC), a main problem is that the rising of corruption and bribery in local governmental bodies is leading to both politital and social instability. This problem is more prevalent and serious in these developing or less developed countries law enforcements are not so strong or undeveloped. Child labour issue Another main unethical practice facing MNC is the use of child labour. The labour market difficulties in developed countries are important and deserve full consideration (Michie, J 2003, p194) In most developed countries, use of child labour morally not allowed and more importantly it is prohibited by legislation. Hence, MNC operates in developing and LDC countries are expected to apply the same standards and rules. However in some countries in the world, use of child labour are often allowed and sometimes encouraged. Children are often expected to help their parents to sustain financial problem. This has been a culture or tradition in those countries. This is mainly because of the poor education provided by the local government and insufficient funds to help those children to be well educated. In this instance, children would not be able to survive if they do not work. MNC have to face these situations when they operate in these countries. In these countries, child labour is encouraged to have economical gains. Further, because these societies often do not have the finance, facilities and manpower to provide necessary and appropriate education, children would not be able to survive if they do not work. In Europe, it is concerned with the upheaval caused by globalisation. It must determine how best to use education and training to commit European countries to a process of job creation, whilst ta king control of the globalisation and economy. (Prakash, A Hart, J 2000 p90) However, for MNC, they should not employ children without assessing the consequences. A detailed analysis should be conducted by MNC to assess whether children are suitable to conduct work for them. In addition, they should also provide a fair and safe working environment for those children. Another effective way is to work and cooperate with the local government to provide necessary education and ensure children have necessary education and training before they can start in the workforce. Conclusion: Multinational corporations have become an important and active role in todays globalisation. They have strong power and influences on a foreign countrys policies, regulations even legal issues. The way how they perform in a foreign market has become quite important for both the home country and host country it operates. The moral and ethical standards and principles MNC applies overseas should be consistent with those standards in their home countries. They have a strong responsibility to encourage, promote and apply a globally consistent ethical standards and principles.

Davos: the World Economic Forum Essay

Davos is a town located on the Landwasser River, in the Swiss Alps, between the Plessur and Albula Range in Switzerland. At 1,560 meters, it is the highest city in Europe. From the middle of the 18th century, Davos became a popular destination for the ailing because the climate in the high valley was proved excellent by doctors and recommended for lung disease patients. Arthur Conan Doyle wrote an article about skiing in Davos in 1899. In the early 90s, Davos became famous worldwide for hosting the World Economic Forum (WEF), an annual meeting of global political and business elites (often referred to simply as Davos) and the home of one of Switzerland’s biggest ski resorts. Organization is defined as â€Å"an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. (World Economic Forum, 2012) These meetings bring together CEOs from the 1000 member companies as well as selected politicians, representatives from academia, NGOs, religious leaders and the media. Around 2200 participants gather for the five-day event and attend some 220 sessions. The discussions focus around key issues of global concern (such as international conflicts, poverty and environmental problems) and possible solutions. In all about 500 journalists from online, print, radio and TV take part, and are furnished with access to all of the sessions, some of which are also webcast. (Davos, 2011) The organization also convenes some six to eight regional meetings each year in locations such as Latin America and East Asia, as well as two further annual meetings in China and the United Arab Emirates. Beside meetings, the foundation produces a series of research reports and engages its members in sector specific initiatives. The Forum was founded in 1971 by Klaus Schwab, a German-born business professor at the University of Geneva, who is currently an Executive Chairman of WEF. Originally named the â€Å"European Management Forum†, it changed its name to the World Economic Forum in 1987 and sought to broaden its vision further to include providing a platform for resolving international conflicts. (Davos, 2012) In the summer of 1971, Schwab invited 444 executives from Western European firms to the first European Management Symposium held in the Davos Congress Centre under the patronage of the European Commission and European industrial associations, where Schwab sought to introduce European firms to American management practices. He then founded the WEF as a non-profit organization based in Geneva and drew European business leaders to Davos for the annual meetings each January. (Davos, 2012)

Finding the Best Sat Essay Writing Test Samples Two Approaches

Finding the Best Sat Essay Writing Test Samples Two Approaches Some questions will need you to examine a graph. You're able to get explanations for any questions which you get wrong. To really improve at the test, you will need to understand the grammar behind the appropriate answers and the erroneous ones. In here you'll see examples on various subjects in some specific formatting styles and of distinct kinds of essays. Sat Essay Writing Test Samples Two Approaches - What Is It? Within this section you will locate teachers' expectations from students at every level and will get to know peculiarities of them all. Whenever you have the last score that you're pleased with, after that you can send only that score to all of your schools. Below tests can help you improve your English writing skills. You will have to use precise language to demonstrate mastery of English writing. Everything should lead back to the most important point in some manner. You've got ample time to m ake certain you comprehend the passage, and it's important you do so in order to acquire the maximum reading category score possible. So that you will have some source material to work with for your practice session, take a couple of minutes to do a little bit of quick, informal research through internet searches to obtain a notion of a few points on either side of the problem. As a way to make a high reading score, in addition, it is imperative that you compose a considerable amount. Every college campus in Texas delivers prospective students an opportunity to take a complimentary TSI practice test, which indicates how well a student is probably going to score on the comprehensive exam. The resume should contain only what a particular school will want to understand, as stated by The College Board. Learning how to consistently compose a perfect SAT essay is going to be a massive boost to your application to such schools. Students should find out more about the colleges and un iversities where they are considering applying to determine which schools require an SAT writing score. Things You Should Know About Sat Essay Writing Test Samples Two Approaches Below is a good example of the way the SAT might test transitions. For instance, you will get up to 40 minutes to compose your IELTS essay. Your essay rating will appear on every score report you send to colleges, irrespective of whether the school demands an essay. Their two scores in every single category is combine to provide you with a complete score out of 8. Provided that you know the fundamental steps of essay writing, you ought to be well-equipped to deal with any essay topic. Although essay questions can repeat, it's hard to predict the precise topic you might have to to write about. Obviously, you've got to use academic words in your essay. Take into consideration the subject generally. There are distinct methods of structuring several types of essays. Determining the sort of essay is the very first step to writing a targeted essay. If you are getting ready for a test, you should attempt to find as many sample topics as feasible begin writing essays on such topics. You've got an extremely good possibility of raising your score, which will significantly boost your odds of getting in. You should have your reasons, and our primary concern is that you find yourself getting a great grade. Since you might guess, he's not having a great moment. Even if you're not preparing for a standardized test you will nonetheless find decent writing skills extremely beneficial. If you must perform essay assignment and wish to do it at top-notch level, Essay-Writing-Tips. You are going to want to do as a number of these essay practice sessions as possible, but before you start on the following session, you will need to assess your essay. The essay provides you with an opportuni ty to reveal how effectively it is possible to read and comprehend a passage and compose an essay analyzing the passage. For instance, if you'll be asked to compose a persuasive essay, consider the fundamental building blocks that would go in that essay's structure. The Meaning of Sat Essay Writing Test Samples Two Approaches To put it differently, it's a prelude to your conclusion. As an example, some English words are utilized to express a lot of ideas. A sentence includes a subject and a predicate. Your final sentence should uphold your principal idea in a very clear and compelling way. There are various forms of essays you could be requested to write in elementary, middle or higher school. Some individuals travel with friends and loved ones. You'll ideally wish to compose a couple practice essays before you sit for the true thing. Students lead busy lives and frequently forget about an approaching deadline. Things You Should Know About Sat Essay Writing Test Samples Two Approaches The very last thing you desire is to need to retake the whole exam, or, worse yet, not have the ability to apply to a specific college, simply because you took the exam without the essay. As you pay for homework, we provide those options at no cost. If a student makes the decision to skip the essay part of the SAT and applies to a college or university which requires a score for the writing part of the SAT, the student is going to have to retake the complete SAT. Check out PrepScholar's internet prep program. Writing a personalized research paper means work through a great deal of. Your thesis should inform the reader what point you are going to be making or what question you're going to be answering about this issue. In here you'll discover a lot of helpful suggestions on essay writing process. That is why it's completely feasible to get ready for the essay ahead of time. Choosing Good Sat Essay Writing Test Samples Two Approaches Before you begin reading, consider the question that follows the passage. What you don't need to do is waste time that you might have spent on a less difficult passage. Pick that alternative if you believe the very best choice is to leave the appropriate part of the passage as it is. If you can't, you want to pick the answer choice which makes it absolutely obvious. For example, every passage will request that you discover the most suitable location for a sentence within a particular paragraph. Once you have the outline ready, you merely should develop the ideas into paragraphs. This paragraph is not as clear on that matter, as it suggests that experimental (pretest) questions can appear on any section. Shorter paragraphs are less difficult to skim and simpler to read. The GPA requirement that actually matters is the GPA you require for an actual likelihood of getting in. It's still true that you must send all test sections, and there's a chance an admissions officer might observe any reduced scor es, but formally they simply review the greatest scores. At least 6 months before applying, you still need to doublecheck merely to make certain, which means you have sufficient time to select the test. Log into the student score portal and learn to utilize your registration number from the SAT or Subject Tests to confirm your account.

Physician Assisted Suicide And Voluntary Euthanasia,...

Physician Assisted Suicide and Voluntary Euthanasia, Legitimacy and Legality Isaac Roer Saginaw Valley State University Abstract This paper discusses why the U.S. should implement the availability of physician assisted suicide/death and voluntary euthanasia. It discusses countries that have this legally, how they do not abuse the fact, and the percentages of both physicians and patients that are affiliated with PAS/VE. It continues with the legal moral issues it has within the United States. It also touches on the majority of the opposing viewpoints and why they have no merit in stopping the allowance of PAS/VE in the states. The paper also discusses why PAS/VE are often requested by many patients that have debilitating diseases or syndromes. Physician Assisted Suicide and Voluntary Euthanasia, Legitimacy and Legality Introduction The medical field has an expensive and controversial task with many of its long term patients. When someone is on their death bed, what can and should we do? As of now in the United States, we have our medical staff treat them well, give the patient a fluffy pillow and a morphine drip. This keeps them as happy as they can be and fills up a bed and hours of medical staff s time. But in many other counties there has been a different answer that seems to benefit both sides. Physician assisted suicide or voluntary euthanasia, which is as it sounds, the patient’s choice to end any suffering, and save the medical bills for anyoneShow MoreRelatedThe Euthanasia Debate Essay1290 Words   |  6 Pagesat the thought of suicide, but is euthanasia the same thing? Do human beings have the right to choose death? â€Å"Americans have developed a paradoxical relationship with death-we know more about the causes and conditions surrounding death, but we have not equipped ourselves emoti onally to cope with dying and death (Bender and B. Leone).† Death is a scary subject for all humans. And death caused by oneself, or suicide, is even scarier. Suicide on a medical terms, or euthanasia, confuses many peopleRead MoreEssay about Euthanasia Should Be Legal3711 Words   |  15 PagesEuthanasia is a controversial issue. Many different opinions have been formed. From doctors and nurses to family members dealing with loved ones in the hospital, all of them have different ideas for the way they wish to die. However, there are many different issues affecting the legislation and beliefs of legalizing euthanasia. Taking the following aspects into mind, many may get a different understanding as to why legalization of euthanasia is necessary. Some of these include: misunderstanding of