Implementing Values And Ethics In Globalized Business

Implementing Values and Ethics in Globalized Business

Abstract

Today's global business world requires companies to take into account its peoples values and to follow through with ethically sound practices. Companies form their organizational values in light of what its employees' value. From a company's organizational values come a universal code of conduct which is tried and revised until it results in successfully resolving situations demonstrating solid ethics.

Implementing Values and Ethics in Globalized Business

Today's business world is much different from the business world of the early years in our country as well as the world. In the early years, little regard was given for employees: children worked long hours, women worked in unsafe conditions and the like. Today however, the world can see a drastic change: children under 18 years old can only work so many hours a week, there are health and safety codes in every company. And these are just the tip of the iceberg of pro-employee changes that have happened over the last 100 years. People use words like values and ethics to describe the policies and the actions of companies in how they treat their employees, especially globally.

Personal Values

Personal values, just like cultural values, need to be considered when a company is forming its policies. Personal values are linked closely to cultural values and need to be viewed as such by a company. Generally, if a company is compliant with its employees' cultural values, so also it will be with its employees' personal values. While personal values are just that personal, many personal values are shared in a way that cultural values are shared.

Companies make efforts to be sensitive to people's personal values via surveys and comment cards. They also show personal value sensitivity by giving management freedom to make exceptions for their own group of employees as it gets to know each employee personally. Companies now strive to get to know their employees.

Cultural Values

Cultural values are one of the values that need to be considered by a company drafting or changing its policies. The values that employees hold, their group values are where companies can have problems with nowadays, especially when expanding globally. Companies need to take into account people's values when forming policies and working hours, it can be a group of people's religious beliefs whether they dictate for them to go to church on Sunday morning or not to eat while the sun is up for a whole month.