Most Common Ethical Issues in International Business

Companies need to be aware of the differences in workplace etiquette between their foreign business partners. For example, in countries like the United States, Russia, Japan, Canada and South Korea, it is important to arrive at a business meeting on time. In other cultures, it is acceptable for the host to be late for a meeting, but the guest must arrive at least 10 minutes early. Not all companies in the international market follow the same rules. Take the corruption of foreign officials and business leaders. In several Latin American countries, for example, bribes and bribes are normal and supposed to be an integral part of business. In response to the debate, the WTO declared its support for the ILO`s internationally recognized core labour standards. The WTO has also stated its belief that “economic growth and development fostered by increased trade and further trade liberalization contribute to the promotion of these standards,” while opposing “the use of labour standards for protectionist purposes.” The rapid growth of international trade has increased the demand for skilled professionals who are familiar with global markets, business practices, cultural considerations and ethical issues in international trade. You can study the complex legal and ethical issues that arise when conducting business abroad as part of an online Master of Business Administration (MBA) program. MBA students learn about international law and ethics as well as unique customs and attitudes, government policy, monetary systems, business fundamentals, cross-cultural management and other factors that influence global operations. The Ethical Trade Initiative is based on the work of the International Labour Organization. Its principles aim to ensure that companies and their partners protect workers` rights and well-being.

The principles are intended to ensure that employment is freely chosen; workers assemble freely and negotiate collective bargaining; jobs are safe, healthy and non-discriminatory; there is no child labour or abuse by employees; Workers receive a living wage; and working hours are reasonable and regular. Companies are always looking for new ways to become more competitive by offering their customers better quality products at lower prices. Outsourcing production jobs to countries with lower labour costs is one way to achieve this. However, doing business in other countries poses ethical questions for U.S. companies that they must face before opening a branch abroad. An MBA can be one of the best ways for professionals to prepare for a career in management, business or general business on a multinational level. A variety of positions in many fields and industries are increasingly available. Corruption is also an important ethical problem in almost all countries and still prevails. In every country, corruption is found within the government itself. Given that these officials attract bribes, that most international companies bribe these officials and gain the commercial and financial advantage, this act is completely unethical. Yes, it is important, because when it comes to foreign affairs and less table conversations between workers who develop policy before starting a job, strict rules must be enforced before they settle down. Harassment in the workplace is very deadly to bear, and this type of environment will not help a business succeed.

Giving is acceptable in most cultures, but in others it can be considered unethical. In most European countries and Canada, donation attracts attention because it is not expected. A German colleague will be particularly happy with a well-chosen gift. International companies face the dilemma of complying with the labour standards of their home countries and not having such rights in host countries. Was a company trying to impose its own human rights policy on the host country or to accept deplorable conditions? In international business, the employee must know the rules and regulations to reduce ethical problems. To increase the output of an organization, an executive must chase away a good employee, and the legal notice must be present so that each employee is influenced to obey him. In most countries, employment practices can lead to ethical problems. Some of the specific conditions of one country may be considered inferior in other countries where multinationals have their branches. It is suggested by many experts to have similar standards in terms of pay and work, but this concept is not implemented by anyone. Internationally, productions are developing all over the world, so they must not only pay attention to the interests, goals and achievements of leaders, but must also take into account this activity with legal and ethical approvals. When two parties enter into a contract in a healthy environment, they must take it seriously, mainly the terms from an ethical point of view.