International Business Issues and Ethics



International Business Issues and Ethics

Introduction

The issue of business ethics is a major issue that is shifting up the priority ladder into many high level policy discussions and agendas of major corporations. The formal description of the term ethics has gone through many changes and transformation over a period of time and it is yet still developing simultaneously along with the needs, outlooks and expectations of society. Up to today, there is no actual standardized description of the term business ethics and neither is there a general consensus on a clear cut group of situation and issues that the term caters to.

The idea of business ethics is underlined by the concept that all major corporations can no longer act as separated financial entities that are carrying out their operation in complete isolated from the wider society. The traditional views of survival, profitability and competition are being done away with slowly. The escalating negative and all pervading hit of global entities in major aspects of social life and in the society as a whole has a has been the speedy catalyst in the resurfacing of a wide array of stakeholders that demand accounting about the effect of activity in the complete feel of its effect.

Business Issues and Ethics

It has been noticed that the former staff of the US organization Enron revealed that for the board of Enron, the most valued aspect of operation was instant economic growth and financial profitability at any cost at any means and this include all possibilities to be undertaken in order to achieve this goals, whether it was through lie, cheat or break the regulations of fair play and ethical operations as long as the money was procured for the company.

A more disturbing fact that was disclosed was that many employees, numbering in the thousands, had invested their major savings and pension in Enron, whereas member of higher up management were permitted to sell their stocks, because they had the privilege of the knowing the future state of affairs that the company was heading for, Unfortunately regular employees who were not in the higher echelons of the company were not allowed to proceed in a similar fashion and actually has a major stake in the company's state of affairs.

They were even encouraged unfairly to maintain their shares with the company, in 2000, when Enron stocks were soaring in the market, members of company's management sold their total of 77 million shares for a whopping 1.1 billion dollars and they continued to do so till end of 2001, when company shares plummeted.

Kim Eng Securities

Kim Eng Securities (KEST), a subsidiary of Kim Eng Holdings, provides financial services. The company provides investment services to corporations and individuals. Its services include trading, retail broking, derivatives trading, and underwriting. It also provides investment banking, investment advisory, corporate finance advisory, and securities lending and borrowing services. The company operates in Thailand, Singapore, the US, Malaysia, Hong Kong, the UK, Philippines, Vietnam and ...