Business Ethics and the Global Dimensions of Business

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This essay will examine the possibility of XYZ Constructions, Incorporated expanding into the global market. In particular, the owners believe that Canada, Asia, and Mexico have niche markets and are the front-runners for expansion. Furthermore, the owners believe these markets will ultimately help increase their initial public offering (IPO) number because of the increased market penetration and market diversity associated with these markets. This essay will examine the issues present in the global market as it relates to ethics and social responsibility. In addition, the essay will study the considerations that are required for opening field offices in foreign countries with respect to international management and cultural diversity. Ethical Issues within the Global Market Before a discussion on ethical issues within the global market begins, a clear definition of ethics is useful for a common understanding. By definition ethics is a methodical approach to deciding the correct action(s) to take in a given situation (Ovaitt, 2008, n/a). Ethical issues are present, magnified, and extremely difficult to discern when considering the global market. This can be seen in, examining the following issues: child labor cases, sweat shops, abuse of labor rights, and discard for health, safety, and environmental standards. While all of the aforementioned topics are of high concern, child labor abuse and environment issues tend to stand out as high hitters. There are many domestic child labor cases present in the United States of America; however, in foreign countries this issue is more dynamic. For example, Sharma (2009) says that India has a significantly high number of child labor cases (14-percent). That statistic leaves many... ... middle of paper ... ... Executive (2011). Executive concepts in business strategy. Boston, MA: Pearson Learning Solutions. Ganapathy, N., & Broadhurst, R. (2008). Organized crime in Asia: A review of problems and progress. Asian Journal of Criminology, 3(1), 1-12. doi:10.1007/s11417-008-9054-3 Ovaitt, F. (2008). Ethics & PR: Communications with a conscience. PR News, 64(29), 1-1. Retrieved from http://search.proquest.com/docview/204226740?accountid=28180 Shah, A. (2007, July 7). Corporate social responsibility. AccountAbility. Retrieved from http://www.globalissues.org/article/723/corporate-social-responsibility Sharma, K. (2009). Labor standards and WTO rules: Survey of the issues with reference to child labor in South Asia. Journal of Economic Issues, 43(1), 29-41. Retrieved from http://search.proquest.com/docview/208780521?accountid=28180
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