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Ethics in International Business - Research Paper Example

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  This paper describes the issue of international business ethics is engaging attention at all levels of business organizations, economic and political forums. Business is a social science and human values and ethics in the various stages of decision making are important…
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Ethics in International Business
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"Ethics in International Business"

Download file to see previous pages Ethical development is more of an intrinsic process and it cannot be captured through the printed literature. Knowledge of ethical theories and practical experience enable an individual to face the critical situations, in personal life or in business situations and enable one to determine which ethical characteristics need to be adopted. Ethics in international business will not accrue through learning theory alone. A number of practicalities are involved as the international business platform is most volatile on many counts. But one thing is certain. It is in the interest of all concerned, international businessmen, policymakers and politicians involved in business decision making, to learn and execute ethical practices. Accountability and ethical principles need to go in tandem which will contribute to the overall welfare of the global business community in particular and global family of humankind in general. International business has the potential to enhance the country’s capacity to produce goods as well as to export or import them. The Friedman Doctrine is aptly described by Campbell Jones (2005). He dissects the doctrine into three parts and writes, “ First, Friedman explicitly recognizes that capitalism is marked by conflict of interest…this conflict of interest is clearly expressed between business and labor….increasing profit is the responsibility of business, and protecting the interests of labor is the responsibility of labor leaders. Between these two groups, there is an unassailable conflict of interest which is a matter of politics and this cannot be wished away by economists or business ethicists.”(p.98) Describing the position of the state and about the social responsibility of the organizations, he elucidates, “ Second, Friedman does not think that the state is a bad thing that should be done away with as if capitalism could continue without the state….Indeed, one of the reasons that Friedman is concerned about business people exercising functions of ‘social responsibility’ is that these business people have not been democratically elected for the purposes of representing the community at large, are, therefore, unlikely to represent the broader interest.”(p.98) And on the ethical issues relating to business, he does the tightrope walking and states, “Third, Friedman expands on the earlier noting that business can engage in competition, ‘so long as it stays within the rules of the fame…the desire of business will be to make as much money as possible, ‘while conforming to the basic rules of society, both those embodied in law and those embodied in ethical custom.”(p.99) This coverage is comprehensive. Milton Friedman (1970) offers detailed comments and expands his arguments, “Presumably, the individuals who are to be responsible are businessmen, which mean individual proprietors or corporate executives. Most of the discussion of social responsibility is directed at corporations, so in what follows I shall mostly neglect the individual proprietors and speak of corporate executives.” (The New York Times)This needs further clarifications. A corporate executive is an employee of the owners of the business and his primary and direct responsibility is to them.   ...Download file to see next pagesRead More
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