Global awareness has become an essential proficiency in international business. In order to become globally aware, the managers of firms must be accepting of cultural differences, understand the culture, have an understanding of global economics and recognize the political trends (Cateora, Gilly, & Graham, 2013). A majority of problems chanced upon are the outcome of the oddness of the surroundings the organization will be operating in the host country. Additionally, as described by Gupta and Govindarajan, “the success of companies in exploiting emerging opportunities and tackling their accompanying challenges relies heavily on how deeply they understand the dynamics of their operating environment” (as cited by Abebe, Elmuti, & Minnis, 2005, p. 1024).
Social responsibility and ethics
Global expansion has developed a strategic imperative for nearly all large organizations and their managers. They have a great deal on their hands in developing, monitoring and changing their strategies. Becoming international is an important factor in assisting organizations in becoming globally competitive. The overall motive for an organization is to generate value for the owners. This value is to cultivate profits for the owners and income for the workers to better support their families (Griffin & Pustay, 2010).
Whether an organization is domestic or international they have social responsibilities to the communities they operate within. Caterpillar, Inc. is one such company that puts social responsibility at the top of their priorities. They have an abundance of engineers and technologists working on solutions to improve on sustainability. According to the 2012 Sustainability Report (2012), “at Caterpillar, we always...
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Griffin, R. W., & Pustay, M. W. (2010). International business Upper Saddle River, NJ Prentice Hall. ISBN: 9780137153732
Ethics in international business. (n.d.). Retrieved from http://management-class.co.uk/public_html/courseware/mba/mb210/intbus/ethics_in_international_business.pdf
Fox, J. (2007, January 22). The social responsibility of Milton Friedman. Time. Retrieved from http://business.time.com/2007/01/22/the_social_responsibility_of_m/
Nike, Inc., company information. (2014). Retrieved from http://topics.nytimes.com/top/news/business/companies/nike_inc/
Nike unethical business practices. (2011). Retrieved from http://entrepreneurawards.org/2011/12/nike-unethical-business-practices.html
Utilitarian theories. (1996). Online Guide to Ethics and Moral Philosophy. Retrieved from http://caae.phil.cmu.edu/Cavalier/80130/part2/sect9.html
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