The global business environment has changed in the past two decades, leading to great impacts on other aspects of the business leadership as ethics. Historically, the enterprises have been employing unethical practices since it was difficult for them to account for their actions. Currently, the improvement of technology and frequent regulation has significantly reduced unethical business practices. Different countries and regions have put in place regulations and standards that must be abided by both internal and foreign investors (Northouse 2013: 425). Also, the consumers nowadays are very informed, and they rate the producers based on their ethical standards in the society. For instance, companies that operate ethically such as the Body Shop and GAP by ensuring fair trading condition and producing economically sustainable goods are perceived by the customers to be adding more value to their products.
Assessing the Varying Dynamics of the Worldwide Business from the developed to the developing Countries
In the modern ever-changing business environment, firms have been very careful about their business actions. Most of them have started putting the interests of the community ahead of their self-interest or motives such as increasing profitability. The leaders are well-informed about their ethical responsibilities, which have been seen as the determining factors in the success or failure of the organization (McPherson 2013: 287). The organizations have implemen ted various strategies on how to improve ethical behaviors in businesses and the society as a whole.
Leaders in the developed countries have realized the importance of ethical leadership, which proposes that the leaders should always do what is more right rath...
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The changing community values should be included in the technological and ethical discussions. The consumers and investors are more likely to make their decisions based on the moral standards and regulations being implemented by their respective organizations. In this regard, there is a need for the management to be more sensitive to the ethical issues affecting business enterprises. Additionally, organizations that are operated in other countries other than their countries of registration should be conversant with the ethical practices of those countries. Besides, business ethics and anti-corruption are at the front of any corporate governance that should be practiced by the organization to succeed. The firms should also understand that business ethics, anti-corruption, and sustainability are interrelated and should not be practiced differently.
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