Globalization: A Study Of Business Ethics In Business

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INTRODUCTION Business ethics is a study of moral standards and how these apply to the systems and organizations through which modern societies produce and distribute goods and services, and to the people who work within these organizations. Business ethics, in other words, is a form of applied ethics. It includes not only the analysis of moral norms and moral values, but also attempts to apply the conclusions of this analysis to that assortment of institutions, technologies, transactions, activities and pursuits. Globalization is a new paradigm of fresh beliefs, new working methods and understanding socio cultural realities. Globalization has become the order of the day and no currency can escape globalisation. Profit motive, the concept of…show more content…
Principle 4 Business should respect international and domestic rules. Principle 5 Business should support the multilateral trade. Principle 6 A good business should protect the environment promote development and prevent the wastage of natural resources. Principle 7 A good businesses should not participate in bribery money laundering and other corrupt practices. Principle 8 All the customers have to be treated with dignity. Principle 9 The dignity and interests of the employees are to be taken into account. There should be a fair compensation to lead a decent living. Principle 10 Investors should be given decent returns. There should be a professional and diligent management. Principle 11 Suppliers have to be treated with mutual respect. There should be a long term stability in supplier relationship. Prompt payments have to be made to suppliers in accordance with the terms of…show more content…
2. They should avoid human right abuses. 3. Global companies should recognize the right to collective bargaining. 4. Forced and compulsory labour should be avoided. 5. It should not practice child labour. 6. No discrimination in employment. 7. Global business should meet the environmental challenges. 8. It should promote greater environmental responsibility. 9. Environmental friendly techniques should be developed. 10. It should not practice corruption. SOCIAL RESPONSIBILITY OF GLOBAL BUSINESS TO INDIA CONSUMERS 1. The quality of the goods and services should be good and customers should obtain a real worth for the price. 2. The price should be fair and reasonable. 3. The type of advertisements should be relevant and meaningful. 4. There should be fair treatment to the customers. No discrimination should be made among the

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