Ethical difficulties faced by multinational companies in today's business world

Title: Ethical difficulties faced by multinational companies in today's business world
Category: Business & Economy | Words: 4314 | Pages: 18.4 (approximately 235 words/page)

Ethical difficulties faced by multinational companies in today's business world

1.0 Introduction <Tab/>Multinational corporations (MNCs) are corporations that "own or control production or service facilities outside the country in which they are based."(United Nations, 1973, P. 23) The rise of Globalisation has forced and enabled more companies to venture abroad in order to thrive for more profitability: bigger market, cheaper raw materials, and lower labour costs. However, MNCs have also noticed that the more countries they enter, the more ethical issues appear. …showed first 75 words of 4314 total…

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…showed last 75 words of 4314 total…one country might be viewed as unethical in another. MNCs should be sensitive for the cultural differences and handle every decision with care and respect. Finally, "globalisation forces MNCs to be more concerned for their moral rules or traits and these are often seen as competitive advantage. MNCs should try to fit into the ethical thinking for their decision-making process, while those who do not are less likely to survive in the new challenges" (Chiu, 2003)

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