Discuss the need for ethics and social responsibility in multinational management, and why there are growing pressures on firms to act in an ethically and socially responsible manner in their global business operations.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
icon
Related questions
Question

Discuss the need for ethics and social responsibility in multinational management, and why there are growing pressures on firms to act in an ethically and socially responsible manner in their global business operations.

Expert Solution
Step 1

Ethics

  • The investigation of what is intrinsically good and evil, right and wrong, is described as ethics. It is often referred to as moral philosophy. The term can also refer to a set of moral convictions or an ideology.
  • Ethics may be defined as a set of standards used to evaluate an employee's behaviour in a certain scenario. The word "business ethics" refers to ethics in the business world.
  • The subject focuses on finding the meanings and solutions behind the basic problems of everyday decision-making.
  • Its main concerns are the essence of ultimate worth and the principles on which human behaviour can be measured right or wrong or the fundamentals of behaviour.
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON