Ethical and Social Concerns in Global Business
QUESTION: Critically examine the ethical and social concerns in global business and their relevance in the Kenyan economic situation.
Ethics are defined as the process of distinguishing the right and good from the wrong and bad and they call for a moral responsibility to pursue the good and right. Business ethics are concerned with the good or right and the bad or wrong behavior in the business organization context. Social responsibility on the other hand goes hand in hand with business ethics. It advocates that a business should act more responsibly beyond the pure profit or economic motive. The expectations of both ethical conduct and socially responsible conduct can vary in cultures of …show more content…
Ethics is an important ingredient in global business. Firms which desire to compete successfully in international marketing should without fail, obey the legal and ethical rules and regulations. Behaving in an ethically and socially responsible way should be a hallmark of every marketer, domestic or international. A little sensibility is required for most of us to know the socially responsible or ethically correct response to questions of breaking the law, destroying the environment, denying others their rights taking unfair advantage or acting in a manner that is likely