BUSI 1701 Lecture Notes - Lecture 2: Ethical Dilemma, Business Ethics, Nepotism

• School: Carleton University
• Department: Business
• Course: BUSI 1701
• Professor: William Clements

Document Summary

Ethics in international business: political environment, social-cultural environment, technological environment, economic environment, competitive environment. Business ethics are the accepted principles of right or wrong governing the conduct of business people. Ethical strategy is a strategy or course of action that does not violet these accepted principles. Many of the ethical issues and dilemmas in international business are rooted in the fact that political systems, law, economic development, and culture vary significantly from culture to culture and nation to nation. Ethical issues are experienced in several domains: unethical employment practices (favouritism in hiring, child labour, nepotism, unfair firing of staff, unsafe working conditions, unethical environment management, lack of protection of human rights, corruption. Ethical dilemma is a situation in which there is no ethically acceptable solution. Why do managers behave in a manner that is unethical? (1) individual values: business ethics are not divorced from personal ethics.