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International Business

International Business. Chapter Five Globalization and Society. Foundations of Ethical Behavior. Individuals and companies must behave responsibly, based on certain ethical codes of conduct (what is right or wrong) Our moral reasoning guiding our decisions and actions can be….

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International Business

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  1. International Business Chapter Five Globalization and Society

  2. Foundations of Ethical Behavior • Individuals and companies must behave responsibly, based on certain ethical codes of conduct (what is right or wrong) • Our moral reasoning guiding our decisions and actions can be…. • Teleological-decisions are based on the consequences of the action • Utilitarianism-an action is right if produces greatest amount of good • Deontological-moral reasoning occurs per se, independently, consequence is not an issue

  3. Cultural and Legal Foundations of Ethical Behavior • Cultural Foundations • Cultural relativism holds that ethical truths depend upon the groups subscribing to them; thus, intervention by outsiders is unethical. • Cultural normativism holds that there are universal standards of behavior; thus, global standards should be considered ethical. • Legal Foundations • Law is a good basis for ethical behavior as it embodies local cultural values • Everything that is legal is not necessarily ethical

  4. Legal and Ethical Issues-1 • Extraterritoriality:the extension by a government of the application of its laws to the foreign operations of its domestic firms • Corruption and Bribery: Is it ethical? How to prevent it? Or, work around/with it? • Consequences of corruption • Transparency International-their role and activities • Ethics and Environment-Global Warming, Sustainability

  5. Legal and Ethical Issues-2 • Ethics and Environment-Global Warming, Sustainability • Kyoto Protocol, 1997-Greenhouse Gas Emissions to 5.2% level • Ethical dilemmas in the pharmaceutical industry • Ethical Dimensions of Labor Conditions • Corporate Social Responsibility of the multinationals • Developing a code of conduct

  6. Chapter 5: Discussion Questions • Discuss the three approaches in moral reasoning. Which appeals to you most and why? • Define cultural relativism and normativism. Explain how the concept can be used by the multinationals in a foreign country. • What is corruption? What can we do to combat corruption? Explain. • Discuss the legal and ethical dimension of Corporate Social Responsibility in a globalized world.

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