Description
“Ethical standards are greatly affected by cultural factors”. In the light of the statement, give some suggestions to develop standardized set of ethical standard for industry. Do you believe that it is impossible to develop a standardized set of ethical standards for improving industry, or do you feel that cultural differences make universal ethical standards impractical and/or impossible?
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Explanation & Answer
Attached.
Running head: ETHICAL STANDARDS
Ethical Standards
Student’s Name
Institutional Affiliation
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ETHICAL STANDARDS
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Business Ethics and Culture
Globally, certain business values are regarded as standards. However, business
transactions involving individuals from different cultures means that the involved persons must
recognize the acceptable ethical values for the respective societies. Consequently, appropriate
business behavior varies depending on the culture (Craft, 2018). As such, the establishment of a
successful global business, standard means that the cultural aspect of different societies must be
taken into consideration.
For instance, to facilitate a standardized set of business ethics, organizations that operate
in regions with a strong cultural impact on business activities, should ensure that their business
decisions adapt to the culture of the day. This means that the top management implement
strategies that will ensure the staff is trained and informed on the culture of the surrounding
community. Similarly, as the employees get details of the culture, the business operations should
be aligned following the acceptable ethical values within the community. To facilitate the
positive relationship between the two parties, the enterprise should ensure that its practices cater
to the interest of the culture around (Craft, 2018...