6 | Business & Finance homework help

Describe the ethical challenges faced by organizations operating globally.

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Instructions:

1) Original post is worth 30 points (300 words)

2) Reply to one classmate 20 points (150 words) 

3) APA Format ( cite all your articles within the body of your work and APA requires you cite all references you provide )

4) No Plagiarism or no copy paste from anywhere 

Response#1( Vikas)

 

As the organization expands its business internationally then they don’t only understand the strategies, policies, and goal but also the ethical and legal issues in global business. When organizations plan for long-term growth in a foreign environment, it is essential to consider all the serious ethical and moral issues and decision making to make expansion a success. Globalization of any organization is referred to as the procedure in which cross border business and finance are integrating foreign economies in the international system. The innovations introduced in technologies and cultural convergence enhanced globalization. Organizations trading globally are required to consent to federal and state regulations completely, natural laws, monetary and financial related announcing rules and social liberties laws (Hendee, 2008).

Some of the common ethical challenges include human rights, employment practices, environmental regulations, the moral obligation of a multinational company, trust, and corruption. Most of the ethical challenges and dilemmas in foreign business are fixed in the political system, economic development, law, and different nations have different cultures. The managers and other executives of the global firm require to be sensitive to these variations. The sensitivity of the managers enhances the ability to select ethical actions which are sound in case of any problem and situation when variations create many ethical challenges. The cultural challenges can make and break an organization leading global business. Every nation and culture has its customs, ethics, history, and traditions (Gilleo, 2001). Culture can become the barrier like a language barrier for dealing with customer or client the organization requires a translator. Gender will be another issue where the females don’t have equal rights as male have (Myers Jr, 2014

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