Let me rephrase to make it more general. Answering this question was essentially the goal of this book, so I will point to the section in the book that address key issues. If we all perceive sensory things and emotional things differently; who among us is to be trusted as the arbiter of ethical truth? Understanding the correct ethical path is relatively easy, simply use the golden rule.
Principles for Business The Caux Round Table believes that the world business community should play an important role in improving economic and social conditions. Through an extensive and collaborative process inbusiness leaders developed the CRT Principles for Business to embody the aspiration of principled business leadership.
The CRT Principles for Business are a worldwide vision for ethical and responsible corporate behavior and serve as a foundation for action for business leaders worldwide. As a statement of aspirations, The CRT Principles aim to express a world standard against which business behavior can be measured.
The Caux Round Table has sought to begin a process that identifies shared values, reconciles differing values, and thereby develops a shared perspective on business behavior acceptable to and honored by all.
These principles are rooted in two basic ethical ideals: The Japanese concept of kyosei means living and working together for the common good enabling cooperation and mutual prosperity to coexist with healthy and fair competition. The current crisis of global capitalism - first in financial markets and now in a recessionary downturn in consumption and production - reveals the dependency of business on an underlying social culture of trust and responsibility.
Principles are needed to restore vitality to global financial markets and to guide business owners and managers. Responding to this immediate need for clear and forceful principles for business decision-making, the Caux Round Table Global Governing Board has reformatted the CRT Principles for Business to make them more easily applicable to today's challenges.
Trust and confidence sustain free markets and ethical business practices provide the basis for such trust and confidence. Events like the global financial crisis have highlighted the necessity of sound ethical practices across the business world.
Such failures of governance and ethics cannot be tolerated as they seriously tarnish the positive contributions of responsible business to higher standards of living and the empowerment of individuals around the world.
The self-interested pursuit of profit, with no concern for other stakeholders, will ultimately lead to business failure and, at times, to counterproductive regulation.
Consequently, business leaders must always assert ethical leadership so as to protect the foundations of sustainable prosperity. It is equally clear that if capitalism is to be respected, and so sustain itself for global prosperity, it must be both responsible and moral.
Business therefore needs a moral compass in addition to its practical reliance on measures of profit and loss. The principles recognize that while laws and market forces are necessary, they are insufficient guides for responsible business conduct.
The principles are rooted in three ethical foundations for responsible business and for a fair and functioning society more generally, namely: The principles also have a risk management foundation - because good ethics is good risk management.
And they balance the interests of business with the aspirations of society to ensure sustainable and mutual prosperity for all. A responsible business maintains its economic health and viability not just for shareholders, but also for other stakeholders. A responsible business respects the interests of, and acts with honesty and fairness towards, its customers, employees, suppliers, competitors, and the broader community.
A responsible business enhances society through effective and prudent use of resources, free and fair competition, and innovation in technology and business practices. A responsible business therefore adheres to the spirit and intent behind the law, as well as the letter of the law, which requires conduct that goes beyond minimum legal obligations.
A responsible business always operates with candor, truthfulness, and transparency, and keeps its promises. A responsible business, everywhere it operates, respects all applicable national and international laws, regulations and conventions, while trading fairly and competitively.
A responsible business supports reform of domestic rules and regulations where they unreasonably hinder global commerce.
A responsible business ensures that its operations comply with best environmental management practices consistent with meeting the needs of today without compromising the needs of future generations.
A responsible business does not participate in or facilitate transactions linked to or supporting terrorist activities, drug trafficking or any other illicit activity.
A responsible business actively supports the reduction and prevention of all such illegal and illicit activities. The key stakeholder constituencies are those who contribute to the success and sustainability of business enterprise.
Customers provide cash flow by purchasing good and services; employees produce the goods and services sold, owners and other investors provide funds for the business; suppliers provide vital resources; competitors provide efficient markets; communities provide social capital and operational security for the business; and the environment provides natural resources and other essential conditions.Business Ethics Across Cultures Article Review The first Article that I read is titled Business Ethics in China.
In this article the author talked about how China is open to considering the ethical issues as they want to be global players. Ethics and Social Responsibility in International Business 3 Introduction Any successful endeavor starts with the customer and not only understanding the.
Management across Cultures: Developing Global Competencies [Richard M. Steers, Luciara Nardon, Carlos J.
Sanchez-Runde] on grupobittia.com *FREE* shipping on qualifying offers. The third edition of this popular textbook has been thoroughly expanded and updated throughout to explore the latest approaches to cross-cultural management.
Ethical issues across cultures: managing the differing perspectives of China and the USA culture is one of the factors that affect business ethics. The Random House College Dictionary defines ethics as, ‘‘the rules of conduct. Before jumping on the cultural relativism bandwagon, stop and consider the potential economic consequences of a when-in-Rome attitude toward business ethics.
Business Ethics across Cultures Article Review Meghan Kraft XMGT/ Deborah Pryer November 22nd Business Ethics across Cultures Article Review For centuries countries have been sharing their goods, services, cultures, and ways of life with those who visit or decides to do business .