Ethical Issues and Criticisms Associated with Multinational Corporations
Since the interests of business owners, employees, consumers, and the community are often opposed to one another, many ethical problems arise (Bowen, 2004).
Some examples of complex bookkeeping processes include those deployed by Enron Corporation, the administration of benefits at Adelphia Communications Corporation, claims of tax extortion, and wasteful individual spending of company funds by employees at Tyco International and WorldCom Inc. The offer to hide expenditures reaching billions of dollars is one of the rare examples of unethical activity that might be given. The scandals and subsequent liquidations at American corporations like Enron and WorldCom Inc. have highlighted the need for steps to promote business ethics and brought attention to the abuse of the authority entrusted to officials by shareholders, representatives, and customers. Because of this, many are talking about the importance of taking steps to improve business ethics. No culture or civilization is predisposed to wickedness by its very character. Its scope extends to the entire globe. Fifteen percent of firms in developed nations need payment for modifications before they’ll work with new clients or keep operating.
Modern businesses face more complicated ethical challenges due to the globalization of trade and the rise of large corporations. To ensure credibility in business practice, workplace security, and broader environmental and social concerns, administrators must find a middle ground between the needs of owners and employees. Many firms and exchange associations have produced ethical codes for use by corporations, company leaders, and employees because of the severe financial consequences of unethical behavior in the workplace. The issue persists within the company, even though we have disciplined the offender for the demeaning behavior they have displayed.
What we learn at work, both positively and negatively shapes our understanding of ethics and how we approach ethical dilemmas in our daily lives. As civilization as a whole declines, more and more people are exposed to potentially lethal doses of a positive infection. Learn to resist the temptation to act on the false belief that dishonesty and a lack of moral principles are necessary to achieve material success. The debasement of others is embedded in human nature. The first line of defense against corruption is a reinforcement of the frames. The use of burdensome business models must be reduced or closely monitored. We must attend to the need for precision.
References
Bowen, S. A. (2004). Expansion of Ethics as the Tenth Generic Principle of Public Relations Excellence: A Kantian Theory and Model for Managing Ethical Issues. Journal of Public Relations Research, 16(1), 65-92.
Ethical Issues in Global Business. “Behind the Enron scandal” http://www.transparency.org/
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Ethical Issues and Criticisms Associated with Multinational Corporations
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