Business Ethics and Global Business

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Business Ethics and Global Business

Introduction

Every society has some norms and values which are socially and ethically acceptable. Every individual and every organization existing in the society should follow those ethical and social values. Their code of conduct should be morally and ethically correct, so that the society and people accept it. The management of the organization should make sure that they make policies which comply with the ethical and social standards. The government also set some ethical standards and norms which have to be followed by every organization (Kotabe, and Helsen, 1998).

Every business organization has its own standards and policies, and they conduct their activities according to these policies and standards. The right and wrong of the business and the way business activities are conducted is known as business ethics. Every organization has to conduct its business following the ethical norms and values. Ethics play an important role in business, and every organization has to work following ethical standards and norms. These norms help the organizations in conducting their businesses fairly, morally and ethically. Ethical policies are made by the management of any organization, and it is necessary that every employee working in the organization follow and work according to the ethical policies.

Due to globalization and integration of international markets, several organizations have to face issues related to business ethics and standards. Asia has its own ethical norms and business standards which need to be followed by every organization. When foreign businesses are globalizing in Asia, they have to face several challenges. Internationalization and globalization helps in improving the economies, and it gives every country and organization a fair chance to grow, develop and expand. Organizations should only opt for globalization if they are ready to face the world and compete with international competitors.

Ethical and Social Issues within the Global Market of Asia

Ethics play an important role in every aspect of life, and it is necessary that people existing in any society follow the ethical, cultural and social obligations. The Global Market of Asia is huge, and there are several countries that have their businesses being operated in Asia. They businesses have to face the challenges of ethics and societal norms in global market of Asia. Every organization has some responsibilities towards the society in which it is operating, and it is necessary that they fulfill those responsibilities (Hitt, Lee, and Yumel, 2002). Business contact with the society, so it is necessary that they take care of the societal values, cultural aspects and moral values of the society. Some of the common issues that business has to face include the following:

Religiously Ethical

While performing business activities in the global market of Asia, organizations have to make sure that they do not exploit any religious norms of the Asians. Like there are some things which are prohibited in some of the Asian countries, for example Wine is considered to be illegal and inappropriate in Muslim countries. So while conducting business operations the organizations ...