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Values & Ethics (Corruption (Effects (discourages domestic and foreign…
Values & Ethics
Corruption
Causes
lack of checks and balances
insufficient funding
Effects
discourages domestic and foreign investment
skews public capital expenditure
reduces productivity of public investments
lower national income
links to criminal activity
demotivation/reduction in productivity
Prevention
legislation
transparent reporting
procurement procedures
"the abuse of entrusted power for private gain" p. 423
Biodiversity
Reduce wastes,
Reduce energy intensity
Enhance recyclability
Extend product durability
Corporate responsibility
Social
Economic
Environmental
Humans rights and labor standards
cultural and regulatory differences across nations
suitable working environment
appropriate pay
stand against underage labor
acceptable workload
company's culture
developed nations vs developing nations
which standards of ethics should be followed? home or host?
the company's moral stand
shareholders' interest
government regulation
international business regulation
competition
Cross national differences on cultural and regulatory standards of ethics
ethics position theory
relativism - leads to ethical leniency
idealism - harsher moral judgement
code of ethics
variations in its depth and contents in different countries based on its inhabitants' attitude towards standards of ethics
businesses in countries that were more relativistic
less likely to adopt a code of ethics
less likely to communicate its standards of ethics to its employees
less likely to establish procedures in events of moral conduct lapses
less likely to include a policy pertaining to corruption
Employee are higher priority profit than social responsibility
Transitional economies
Western european country Managers
Business student