Comparison Of Business Ethics In Different Countries.

3362 words - 13 pages

ContentsBusiness Ethics compared in three countries: U.S.A., Hong Kong, and Russia.1.Introduction2.Issues3.Importance of issues4.Advantages/disadvantages of the presence or lack of business ethics5.Safety, ethics, welfare6.Comparison of ethical business in several countries7.Conclusion--Which country is the leader of business ethicsThree Main Issues:1.What is the current knowledge and participation of each country of business ethics?2.How do the countries use business ethics to their advantage?3.What is the International Code of Ethics?A Code of Ethics is a business or an organization's policy applicable to all its activities and relationships. It should identify principal responsibilities its stockholders, shareholders, employees and communities. Its main function is to provide guidance in cases of moral dilemmas. Many corporations have implemented codes of conduct that define unacceptable behavior and serve as a guideline for the practice of ethical conduct. This is a step in the right direction, but it is not enough for an organization merely to have written codes of ethics. Many business organizations are also taking a more proactive position in the area of promoting the practice of ethical behavior. To reinforce the organization's values and standards, ethics training programs should be held on a regular basis rather than being a one-shot deal. Business ethics should be practiced in every country around the world. The United States, Hong Kong and Russia are several countries that will be mentioned that practice business ethics.In The United States, business ethics is a topic that businesses are becoming more aware of. An article in USA Today Magazine in January 1998,states, "Companies are discovering the value of ethics". The discussion of ethics in the business world goes hand and hand with the term, profit. It was thought that the more ethical a business is, the less profitable it is; the more profitable, the less ethical. In recent times, there is a positive relation between ethics and profit. Ethics serves as a foundation for the success of businesses. An ethical company provides a moneymaking opportunity and can be the source of a competitive advantage.Employee and customer theft is a major problem for businesses, as a shrinking on the job and declining work ethic. A culture in which drug abuse certainly does not help minimize the problem of theft, businesses are ultimately forced to administer drug-screening tests. The expenses for the drug tests incur great costs for the businesses. Employees with the right values would not need to take the drug testing, thus the company would save money. Consequently, employers will try to hire employees who statistically are more likely to be honest. Ethical behavior is like a virtuous cycle between the customers, employees, and suppliers. As a company builds trust, customers, employees and suppliers are less likely to act immorally. Another benefit of ethical behavior is that it provides a solution...

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