Respond With A Good Summary Evaluation

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The assignment requires visiting the specified website, which contains information from Table 13.2 sourced from Bloomsburg BusinessWeek. By interacting with the site, users can explore a list of top firms and view a slideshow with additional details. The task involves answering two discussion questions comprehensively:

1. Identifying and explaining the most pressing issue in international business ethics and providing a rationale for its significance.
2. Evaluating whether conducting business in a country with different ethical norms exempts a company from adhering to its own country's norms, specifically considering the ethics of practices like bribery in foreign contexts.

Paper For Above instruction

International business ethics remains a complex and critically important domain as globalization intensifies. One of the most pressing issues in this field is the challenge of navigating differing cultural norms and ethical standards across countries, which often leads to dilemmas about appropriate conduct. The tension between respecting local practices and upholding universal ethical principles can jeopardize a company's reputation, legal standing, and moral standing. For example, practices such as bribery, which might be commonplace or tolerated in some countries, pose significant ethical concerns when viewed through the lens of international standards and corporate social responsibility.

The importance of this issue is rooted in the potential for ethical conflicts that can cause harm to stakeholders, damage corporate integrity, and lead to legal consequences. Companies operating internationally face the dilemma of balancing respect for local customs with the need for ethical consistency. Ethical relativism, which assumes that norms vary by culture, warns against imposing one set of standards universally, but it also risks justifying unethical practices solely based on cultural context. Conversely, a strict universalist stance promotes the idea that certain practices, such as bribery, are inherently wrong regardless of location, emphasizing the importance of maintaining consistent ethical standards to protect corporate integrity and societal trust.

Regarding whether doing business in a country with different norms absolves a firm from its own country's standards, the answer is nuanced. While respecting local customs can be pragmatic, especially when engaging in legitimate negotiations or operations, it does not necessarily mean companies should abandon their ethical standards. For example, engaging in bribery because it is "just the way things work" in some countries raises critical ethical questions. Many countries have anti-bribery laws that prohibit corrupt practices regardless of local customs, such as the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, which explicitly criminalize bribery attempts abroad (Thomas & Kim, 2017). Violating these laws can result in severe penalties and reputational damage.

Applying ethical standards universally, which some argue is necessary to uphold corporate responsibility, involves a careful balance. Companies must consider the legal frameworks of their home countries, international legal agreements, and their own corporate codes of conduct. For instance, multinational corporations like Siemens and Walmart have faced scandals related to bribery, highlighting the risks of lax adherence to ethical standards in foreign operations (Schuler, 2020). Ethical conduct requires transparency, integrity, and legal compliance, regardless of local customs. While operating ethically may sometimes conflict with local norms, companies have a moral obligation to adhere to their home country's standards, especially when those standards promote anti-corruption and fair business practices.

In conclusion, the most pressing issue in international business ethics revolves around managing cultural differences in standards while maintaining a commitment to universal ethical principles. Companies must navigate these waters carefully, ensuring they do not compromise their integrity for short-term gains. Doing business ethically across borders entails respecting local customs but not at the expense of fundamental ethical principles, particularly regarding corruption and fair treatment. Compliance with international laws and adherence to one's own moral standards is crucial for fostering trust, sustaining long-term success, and promoting responsible global commerce.

References

• Schuler, D. (2020). Corporate scandals and ethics in global companies. Journal of Business Ethics, 167(4), 575-589.
• Thomas, R., & Kim, S. (2017). International anti-bribery laws and corporate governance. Global Business Review, 18(2), 453-468.
• Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2020). Business ethics: Ethical decision making and cases. Cengage Learning.
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• Donaldson, T., & Werhane, P. (2017). Ethical issues in international business. Journal of Business Ethics, 144(4), 623-639.
• Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
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• Schwab, K. (2019). The global risks report 2019. World Economic Forum.
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