BUS FPX 4016 Assessment 2 Ethical Business Management

BUS FPX 4016 Assessment 2 Ethical Business Management

Student Name

Capella University

BUS-FPX4016 Global Business Relationships

Prof. Name

Date

Introduction

Ethics constitutes a fundamental component of business practices within various companies, often established through ethical codes and reinforced by a robust organizational culture. Employees disseminate and uphold these codes to ensure adherence. This assessment endeavors to examine the significance of social responsibility in the context of international business operations. Additionally, it will delve into philosophical approaches to ethics and their implications for organizations and managers.

The Impact of an Organization’s Ethical Standing or Reputation on its International Business

Maintaining a strong commitment to social responsibility is imperative for businesses, both domestically and internationally. This commitment profoundly influences an organization’s reputation, fostering customer loyalty, employee motivation, cost-effectiveness, 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).

Applicability of Philosophical Approaches to Ethics within Organizations

Hill (2019) contends that the philosophical stance of righteous moralists advocates for international businesses to uphold ethical standards consistent with those of their home countries. Despite the challenges it may pose, this approach appears to be the most suitable among various philosophical perspectives. Given the vast cultural disparities across nations, maintaining uniform ethical standards across all locations mitigates the risks of errors, legal complications, and reputational damage. However, it may be perceived as outdated compared to more nuanced approaches.

The Reflection of a Specific Philosophical Approach to Ethics on Organizations and Managers

Embracing the righteous moralist approach could inadvertently lead to cultural misunderstandings among employees from different countries, potentially resulting in errors or legal violations. Additionally, significant cultural disparities may adversely affect the organization, particularly if they diverge substantially from the culture of the organization’s home country. Managers, typically originating from developed nations such as the United States, may lack familiarity with foreign laws or regulations, leading to compliance issues, as noted by Hill (2019). Moreover, a lack of understanding of the host country’s culture could cause managers to inadvertently offend employees or disrupt the cultural equilibrium within the organization.

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/

Hill, C. W. L. (2019). Global Business Today (11th ed.). McGraw-Hill Higher Education (US).

Salacuse, J. W. (2005). The top ten ways that culture can affect international negotiations. Ivey Business Journal. Retrieved September 6, 2022, from https://iveybusinessjournal.com/publication/the-top-ten-ways-that-culture-can-affectinternational-negotiations/

BUS FPX 4016 Assessment 2 Ethical Business Management