Do you think global businesses would be willing to subscribe to a global code of conduct?...

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Do you think global businesses would be willing to subscribe toa global code of conduct? Explain your answer. Would it be easierto just follow the business practices and customs of the country inwhich youâ€™re doing business? Why or why not? Are there morestakeholders for an international or global company than a domesticone? Explain your answer. How would the Foreign Corrupt PracticesAct (FCPA) that we reviewed in Chapter 6 come into play here? Whichoffers greater guidance to international businesses, the UN GlobalCompact or the OECD guidelines? Explain your answer. What is themost ethical way to do business internationally?

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Do you think global businesses would be willing to subscribe to a global code of conduct Explain your answer Global Code of Conduct With the increase in competition the business world has to find out new ways to reach out to a larger audience Some ways of expanding the business is by globalization But in such a situation the rules regulations ethics and laws will be subjected to change Therefore a global code of conduct is recommended ie a general standard of business practices that can be applied equally in all countries It will be above the local customs and social norms Willingness to subscribe to Global Code of Conduct The ultimate aim of any business organization is to earn more profits and to maximize the shareholders wealth The Global Code of Conduct aims at setting a common code that will be followed by all companies that aim at expanding their business in other countries Since the main aim is to earn more profits so some companies may try to earn profits even by unethical means So the willingness to follow or to subscribe to the global code of conduct might be less among the companies They have to be made to willingly subscribe to the Global Code of Conduct by creating awareness about the need and the benefits of being ethical Would it be easier to just follow the business practices and customs of the country in which youre doing business Why or why not Actually in the country where the business is being carried out various practices and customs have to be followed because a business has no other optionWhether it is easy or not a business is bound to follow all such practices and customs in a perfect mannerWithout following it the loss will be to the business only Thus the business has to adapt itself to the external environment and make various changes in the organization so that See Answer

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