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Ethics (Value of ethical behaviour (Simply the right thing to do, Often a…
Ethics
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Unethical Behaviour Before entering a country and throughout the life of the firm's operations - management must be alert to the various ethical challenges.
The firm should scan the country and potential partners for the possibility of ethical abuses and regard such scanning as an ongoing process.
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Shouldn't be restricted to a specific environments but on the existing value-chain activities, which often take place in multiple countries.
Ethical challenges in international Business - Companies encounter ethical challenges in a range of international activities
Corruption - The practice of obtaining power, personal gain, or influence through illegitimate means and usually occurs at others' expense
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Corruption influences our political, social and economic environments
It diminishes trust in public institutions, undermines the rule of law, and challenges democratic principles
It stunts economic development by discouraging foreign FDI and hurts small business that lack means to pay up
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Corruption harms the poorest in societies, those forced to pay bribes to gain access to needed products and services, such as water, electricity, and phone service
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Bribery - widely practised around the world, is the most notable form of corruption in international business
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Bribery is especially common in developing economies - nearly impossible to achieve important business objectives without paying bribes to public officials and other individuals
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Bribery is especially common in the global energy, mining, and telecommunications
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Bribery threatens fundamental business principles of fair competition and merit-based selection, and even essential functioning of market economies
Unethical Management Practices - Are a significant factor at the level of individual firms, especially in countries that lack adequate regulation and professional standards
A corporate culture that advocates profit over sustainability and human welfare can lead to employee abuse, harmful procedures, and other unsustainable practices
Manages may harass employees over issues of sex, race, religion, or political affiliation
Harmful Global souring- Global sourcing is the procurement of products or services from suppliers located abroad
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Some companies operate illicit sweatshop factories in which employees are children or work long hours for very low wages, often in hash conditions.
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Bribery promotes a culture and practice of dishonesty and immorality that opens the door to other types of wrongdoing