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5: Ethics

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    168768

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    • 5.1: Ethics and International Business
      This page discusses business ethics, emphasizing its role in guiding moral decision-making within organizations. It highlights the significance of international business ethics due to globalization and technological advancements, addressing the challenges companies face in differing cultural ethical standards.
    • 5.2: Ethics and Profitability
      This page underscores the need to balance short-term profits with long-term success and ethical behavior, highlighting the distinction between stockholders and stakeholders. It advocates for ethical leadership and corporate social responsibility (CSR) to enhance reputation and profitability. Additionally, it discusses stakeholder analysis, the significance of goodwill derived from strong corporate ethics, and encourages evaluating job opportunities based on culture rather than just salary.
    • 5.3: Multiple vs Single Ethical Standards
      This page discusses the importance of consistent ethical standards in business, warning against situational ethics and ethical relativism. It advocates for a universal code grounded in honesty and integrity to build trust among stakeholders and align with normative ethical theories. A scenario about employee discounts for relatives is presented to provoke thought on the implications of ethical decision-making.
    • 5.4: Common Ethical Dilemmas
      This page explores the diverse categories of ethical issues in business, noting the significant role of culture in shaping ethical behavior. It points out that while certain actions, like physical harm, are universally rejected, practices such as discrimination and bribery may be tolerated in some cultures.
    • 5.5: Examples in the US and Wisconsin
      This page discusses Kohler Co.'s commitment to ethical supplier standards through its Supplier Code of Conduct and Global Human Rights Policy, which prohibit issues like forced and child labor and set workplace safety expectations. The company assesses supplier risks, conducts audits, and provides anonymity for grievance reporting. It emphasizes that written policies need regular monitoring and corrective actions to maintain compliance and uphold its ethical values.
    • 5.6: Global Business in Action
      This page discusses the ethical challenges global businesses encounter due to varied legal systems and customs, highlighting notable cases of misconduct from companies like Siemens, Volkswagen, Goldman Sachs, Glencore, and Binance. These incidents underline the importance of maintaining accurate records and oversight to mitigate unethical practices motivated by growth pressures. It emphasizes that effective business ethics must surpass mere legal compliance.

    This page titled 5: Ethics was last modified on Wed, 07 Oct 2026 23:58:17 GMT and is shared under a CC BY-NC-SA 4.0 license and was authored, remixed, and/or curated by Terri Brown via source content that was edited to the style and standards of the LibreTexts platform.