Legal Business Practices in the United States and Korea Essay examples

Legal Business Practices in the United States and Korea Essay examples

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Introduction
The purpose of this paper is to describe business practice in detail and provide a comparison of South Korea with that of the United States in regard to business practices. The researcher will define ethical and legal business practice as well as unethical and illegal business practices. Furthermore, the researcher will identify business practices that are considered illegal and unethical in the United States and address why these same practices are considered legal and ethical in South Korea. Finally, the researcher will provide a course of actions to deal with the difference in ethical and legal practices when transacting business with a country that has different standards.
Describe Business Practice
According to Chang, C., Chang, A., and Freese (2001) gifts and bribes are distinctly separate and while gifts are ethical, bribes are considered unethical and illegal. In some cultures particularly South Korea business practice such as the concepts of gifts and bribes are not distinctly separate. The problem is that gift giving can overlap into bribery which is both ethical and unethical at the same time (Chang, C., Chang, A., & Freese, 2001).
Chang, C., Chang, A., and Freese (2001) states gift giving in South Korea is defined as behavior based on social norms for congratulation, gratitude, condolence, attention, and reciprocity. Gift giving is one of the most important practices in South Korea and a person business may be in jeopardy if the individual fails to send a gift. Although a gray area exist between gifts and bribes South Koreans did not miss an opportunity to give gifts especially to prominent figures in hopes of obtaining a favor in the future. Furthermore, South Koreans both the giver and re...


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....com/bribery-act-1962-
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LawyerShop. (2012). Bribery. Retrieved from http://www.lawyershop.com/practice-areas/
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Lee, C. & Yoshihara, H. (1997). Business ethics of Korean and Japanese managers. Journal of
Business Ethics, 16(1), 7-21. Retrieved from http://www.proquest.com.libproxy.edmc. edu/docview/198089772?accountid=34899
Merriam Webster. (2012). Illegal. Retrieved from http://www.merriam-webster.com/
dictionary/illegal
Sims, R. (1992). The challenge of ethical behavior in organizations. Journal of Business Ethics,
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Zarka, H. (2007). Ethical and unethical business practices. Retrieved from http://voices.
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