BUS FPX 4016 Assessment 2 Ethical Business Management

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Capella university

BUS-FPX4016 Global Business Relationships

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Date

Introduction

Ethics is an integral aspect of business operations across companies. Typically, companies establish ethical codes accompanied by a strong company culture, which employees disseminate and monitor to ensure adherence. This assessment aims to analyze the role of social responsibility in international business operations. Additionally, it will explore philosophical approaches and their impact on organizations and managers.

What Effect an Organization’s Ethical Standing or Reputation has on its Business Abroad

Maintaining a robust social responsibility stance is crucial for businesses, both domestically and internationally. Such responsibility influences an organization’s reputation, fostering loyal customers, motivated employees, cost savings, innovation, and market opportunities (business.gov.nl, n.d.). The ethical conduct of a business significantly shapes its reputation. Moreover, cultural factors play a pivotal role, influencing individuals’ thoughts, interactions, and behaviors, thereby impacting business transactions (Salacuse, 2005).

Will any Philosophical Approaches to Ethics Work in the Organization

According to Hill (2019), the philosophical approach of righteous moralists asserts that international businesses should uphold the same ethical standards as those in their home countries. Among the various philosophical approaches, despite its potential challenges, this approach seems most suitable. Given the vast cultural differences among countries, maintaining uniform ethical standards across all locations reduces the risk of errors, lawsuits, and tarnished reputations. However, this approach may appear outdated compared to newer, more refined methods.

BUS FPX 4016 Assessment 2 Ethical Business Management

How Does a Particular Philosophical Approach to Ethics Reflect on an Organization and its Managers

Adopting the righteous moralist approach may inadvertently lead to employees from other countries making errors or violating laws due to cultural misunderstandings. Moreover, cultural disparities could adversely affect the organization, particularly if the culture differs significantly from that of the organization’s home country. Managers, typically hailing from developed nations like the U.S., may lack familiarity with foreign laws or regulations, potentially resulting in compliance issues, as illustrated by Hill (2019). Additionally, managers might inadvertently offend employees or disrupt the cultural balance within the organization due to a lack of understanding of the host country’s culture.

References

business.gov.nl. (n.d.). International Corporate Social Responsibility (ICSR). Retrieved September 6, 2022, from https://business.gov.nl/running-your-business/internationalbusiness/doing-business-abroad/international-corporate-social-responsibilityicsr/#:~:text=Running%20a%20company%20in%20accordance,environment%2C%20human%20rights%20and%20corruption.