Ethical Issues In Global Business

3066 words - 13 pages

Table of ContentsIntroductionPage 3EthicsCorruption in the United StatesPage 3Corruption and the OlympicsPage 6Corruption AbroadPage 7Affects of CorruptionPage 8Anti-Corruption Strategies Page 10ConclusionPage 11Back Up MaterialsTransparency International, Global Corruption Report 2001Tab 1Time Trail Article: Italy, The Mani Pulite ScandalTab 2Economic Perspectives 1998, View from Stuart EizenstatTab 3Promoting the Rule of Law and Anti-Corruption in a Globalized EconomyForeign Corrupt Practices Act of 1977Tab 4Transition: The Newsletter about Reforming EconomiesTab 5Ethical Issues in Global BusinessNavigating the boundaries between right and wrong can prove tricky for companies that oper ...view middle of the document...

The free enterprise system is based on transparency and integrity. Transparency is being open to public scrutiny, even for a private company. Integrity is about keeping promises, telling the truth and acting fairly and responsibly.Enron is the story of the largest bankruptcy in U.S. history that has cost thousands of employees their jobs and their retirement. Enron, through a variety of accounting tricks relating to partnerships, inflated their profits and lowered their debt. They misled their employees, investors and the general public about the company's financial condition. Once those off-the-book partnerships were exposed, the bottom dropped out, with Enron's stock plummeting from almost $80 to less than $1 a share. Enron executives reaped millions through these partnerships and by selling off stock before the demise, while Enron employees lost much of their retirement and investors lost millions. info@alternet.orgArthur Anderson a firm that once stood for trust and accountability ended 90 years as an auditor of publicly traded companies under a cloud of scandal and shame. Its felony conviction for obstructing a federal investigation into Enron Corp., its now notorious client, cost Andersen the heart of its practice. It will continue with a tiny fraction of the 85,000 employees it spread across the globe just months ago. In the 1990s, the firm embarked on a path that valued hefty fees ahead of bluntly honest bookkeeping, eroding Andersen's good name. Andersen shunted aside accountants who failed to adapt to the firm's new direction. In their place, Andersen promoted a slicker breed who could turn modestly profitable auditing assignments into consulting gold mines.In the years before WorldCom Inc. announced the $3.9 billion in improper accounting that led to its bankruptcy this summer, the telecommunications giant was plagued by loose business practices, inadequate financial disclosure, and widespread internal chicanery and corruption. Salespeople and managers boosted their commissions by manipulating the company's billing systems. Orders for services or equipment were booked even if they were not provided, so that departments could meet revenue targets. Outside contractors billed for hours they could not have worked, and some equipment was purchased without anyone checking to see whether it was already in inventory. The documents also show that a small group of WorldCom executives, knowing that their business was eroding rapidly, discussed various accounting maneuvers that would help prop up the company's bottom line.A majority of top corporate ethics officers predict at least a half dozen more major business ethics scandals will be revealed during the next 12 months, and some of these executives expect more than 20 such cases, The Conference Board reported in a recent survey. A majority of these corporate ethics officers say that even ethics training wouldn't have prevented the collapse of Enron. About 54% of those surveyed say that even...

More like Ethical Issues In Global Business Assignment

Essay On ISSUES IN DOING BUSINESS IN CHINA

2264 words - 10 pages ... (FIE's) and foreign direct investment (FDI) to China, the past two decades have witnessed numerous US MNC's going to China outsourcing production and jobs mainly for two reasons: reduction in their operations cost and availability of cheap labor. However, from an international business perspective, one of the biggest issues or challenges faced by these companies is defining and enforcing appropriate ethical standards and operating in a socially ...

Ethical Issues With Drug Use In The Sports World

3109 words - 13 pages ... Ethical Issues in Contemporary Sport: Major PaperDrug Testing should be abolished for athletes in SportAustralian distance runner Ron Clarke argues that there are no drug screening tests available that can catch all those athletes that use performance enhancing drugs. This he concludes, means that the International Olympic Committee should get rid of all testing. This is an option, however, it is not one that is best suited as the solution. It ...

Analyzing Different Ethical Theories - Business Morality, Ethics In Context - Essay Research Paper

1487 words - 6 pages ... through their work is the same as forcing individuals to work for the government. While one seems more obvious than the other, Libertarians hold these two actions in the same light. It is the government assuming partial ownership of certain individuals. 4 Bowie, Norman. A Companion to Business Ethics. Blackwell Publishers, 1999. Opponents like to bring up the social issues that may arise if a strict Libertarian were in power. If an individual ...

In What Ways Has Globalisation Helped Multinational Corporations Coordinate And Control Their Business Functions On A Global Scale

779 words - 4 pages ... In what ways has globalisation helped multinational corporations coordinate and control their business functions on a global scale.'Globalization' is commonly used as a shorthand way of describing the spread and connectedness of production, communication and technologies across the world. That spread has involved the linking of economic and cultural activity. Globalization in the sense of connectivity in economic and cultural life across the ...

Case Study 1 For MGMT 1125: Walmart Study Case That Is In The Textbook - West Georgia Tech/ MGMT 1125 - Study Case 1

850 words - 4 pages Free ... 2025.” Not only is Walmart trying to better their selves by managing ethics and social responsibility very well, but they are also starting to hold its food suppliers to a set of sustainability standards and is working to eliminate unethical labor practices at the supplier level. Another way Walmart is working to improve their ethical reputation and social responsibility is “In 2004 Walmart formed its Global Ethics Office and released a revised ...

Nike Case

806 words - 4 pages ... countries. Specifically this paper will review how Nike handled these issues in the, The Sweatshop Debate case.Global Business ChallengesWhen a corporation decides to become a global entity it requires research into the legal, cultural, and ethical challenges that will arise. One such challenge Nike had to overcome what the public outrage and protests regarding child labor, hazardous conditions, and pitiful wages. Nike was criticized for taking ...

Unilever Global Business Environment Report - Manchester Metropolitan University, Global Business Environment - Report

3731 words - 15 pages ... Term 2 Individual Report | Global Business Environment| Final Word Count: 3,387 Autumn Hall Student ID: 16048853 26 Apirl 2017 Table of Contents 1. Purpose and Aims………………………………………………………….2 2. Introduction To Unilever…………………………………………………2 3. Ethical Issues in International Business……………………………………3 3.1 Introduction to Business Ethics…………………………3 3.2 Unilever’s Ethical Issues………………………………..4 3.3 Unilever’s Ethical Standards and Their Success ...

Business Ethics And How It Relates To The Work Place

290 words - 2 pages ... the ethical standards for the way of doing business in corporation is primarily task of management. To be able to keep the ethical standards management must follow the law due to the fact the ethical codes of corporations that that get so important nowadays also did not come into being at once. They emerged from individual ethical standards and corporate consciousness. Moreover, the public demand for prosecution of any violations of corporate ...

Business Test Review Grade 12 Unit 4 - Business - Review

592 words - 3 pages ... , establishes terms of trade and encourages foreign investment. (EU or NAFTA)  NAFTA: North American free trade agreement (USA, Canada, Mexico)  Lobbying: When a company/business seeks to influence a political party on an issue Ethical imperialism: if something is wrong in one country, it is wrong in all countries.  Cultural relativism: Not judging a culture to our own standards of what is right or wrong, strange or normal Primary stakeholders: include ...

Human Resources Management

970 words - 4 pages ... to be able to handle issues in the areas of: performances improvement, company policies, training, compensation, and benefits. (Jahn, 2009) Graeme Buckingham asserts that "employees leave managers instead of jobs" (Business insights, 2000) As modern business continues human resource managers need to adapt to an ever changing environment. Globalization, technology, diversity, e-business, and ethics are just some of the areas HRM needs to deal ...

Leadership--effective Leadership Depends On The Situation In Which It Is Excised

2107 words - 9 pages ... external environment, leader-follower relationship, and ethical issues. Thereby, what makes it go? Only by exploring these kinds of contextual factors, leaders can take action forward in their development and preparation for twenty-first century leadership.A significant part of external environmental change is the business globalization that is becoming an important influence on effective leadership, both on global level and internal ...

Analysis Of Nestle Infant Formula Scandal From An Ethical Perspective - Monash - Essay

2193 words - 9 pages ... Business Ethics, 106(3), 283-293. doi:10.1007/s10551-011-0995-6 Buchholz, R. (2003). Cases versus Theory in Business Ethics: A Pragmatic Reconciliation. Koçyiğit, M., & Karadağ, E. (2016). Developing an Ethical Tendencies Scale Based on the Theories of Ethics. Turkish Journal Of Business Ethics, 9(2), 297-307. doi:10.12711/tjbe.2016.9.0016 Lipworth, W., & Kerridge, I. (2013). China's pharma scandal and the ethics of the global drug market. The ...

Business Ethics Green And Black Chocolate - Business - Essay, Assignment

914 words - 4 pages ... The article, ‘Green & Black's new UK chocolate bar will be neither organic nor Fairtrade’ by Lucy Siegle seeks to address ethical issues. The title in the name says itself that the chocolate brand Green & Black’s (G&B) is launching its first chocolate bar that is neither organic nor Fairtrade-certified. The problem being addressed is that the most widely recognised ethical brand of the Fairtrade system is ensuring fair price and decent working ...

What Is Corporate Social Responsiblity? - Sunflower - Assignment

1423 words - 6 pages ... businesses that follow ethical practices that meet their own beliefs. CSR today In today’s world where business have become global but governments and society have remained local, companies have to bear the social responsibility for their actions. CSR has become the main focus of interest not only by the organizations managers but also for the practitioners of development, both within the bilateral and multilateral agents and developments NGOs (Non ...

Management Planning Paper

1083 words - 5 pages ... needs to plan out effective ways to built up confidence in their work group in order to effectively communicate new ideas to the workforce. This is lead by strategically planning the mode of transmission. In today's business culture, one can circulate a strategic plan across the word in a nanosecond. That is how past ideas have created technological communication behaviors. Technology can influence strategically plans across the global spectrum of ...