Importance Of Ethics In International Business

Register to read the introduction… This current issue is being debated by the public, government, organisations and critics. Organisations who claim to be socially responsible ensure that they do not obstruct on human rights with regards to their business practices, increase the global standard of living and also claim to be reducing their impact on the environment through a variety of strategies (Hurn, 2008). Social responsibility does not negatively impact a company and seems to helping third world countries with their development. However, critics argue developing nations who don't have the systems and social structures in place will struggle with such policies, as third world countries will have difficultly to meet the high demands placed on them (Yucel, 2009). That being said, these concerns create awareness for companies contemplating expansion.
Bribery and corruption is another critical ethical concern for international organisations. Even though it is illegal in most countries, it is far from illegal in some and can even be part of the business culture. International organisations are encouraged to not participate in such business practices and payments made should be within the law of both the “local country and the home country” and should be fully disclosed to the public (Iraj, 2009). …show more content…
Ethical problems and controversies in international business ethics pose a great concern. Acceptable business ethics will be beneficial in international business. This paper explained the importance of international business, emphasise the ethics of a business and the significance of ethics in terms of expanding internationally. Ultimately, with the number of business expanding internationally on the rise, it is critical for organizations to aware of the ethical concerns, while promoting their own company’s ethics, in order to achieve