Comparison of business ethics in different countries.

Contents Business Ethics compared in three countries: U.S.A., Hong Kong, and Russia. 1.Introduction 2.Issues 3.Importance of issues 4.Advantages/disadvantages of the presence or lack of business ethics 5.Safety, ethics, welfare 6.Comparison of ethical business in several countries 7.Conclusion--Which country is the leader of business ethics Three Main Issues: 1.What is the current knowledge and participation of each country of business ethics? 2.How do the countries use business ethics to their advantage? 3.What is the International Code of Ethics? A Code of Ethics is a business or an organizations policy applicable to all its activities and relationships. It should identify principal responsibilities its stockholders,†¦show more content†¦Corporate misconduct raises the cost and reduces the amount of social capital. The more businesspeople try to avoid the terms of their agreement, the greater the number of disputes that end up in court. Increased government activity adds to the cost of government. A market system needs moral capital as well. If capitalism is to be successful, there must be a widespread acceptance of certain moral norms, such as truth telling, and fair play. As more and more people abandon these moral forms, the social capital that makes market activity possible, is depleted, as stated by Norman Bowie. Bowie also states, America is obsessed with quarterly reports -one that forces managers to focus on the short run, rather than the long run. If corporations took the moral point of view, they would focus on meeting the needs of their stakeholders and focus on providing secure work for their employees and quality products for customers. If this were done, profits would follow. American capital differs from the capitalism in other countries. Ethical behavior can lower costs, increase productivity, and preserve the social capital that makes capitalism possible. It is in the nations interest to ensure that American capitalism is a leader in ethics as well as in product development. To help promote mutual understanding between the people of Hong Kong and foreign countries, as well as the development of business relationship, several major foreignShow MoreRelatedDoes Liberalism Really Offer the Most Freedom?726 Words   |  3 PagesDoes libertarianism really offer the greatest amount of i ndividual freedom? Why or why not? Libertarianism offers great amounts of individual freedom to the people governed under it. Whether it truly offers the greatest amount of freedom in comparison to other forms of political theory is highly debatable and very subjective in nature. We as Americans live in a liberal society and our government is appropriately structured as one. 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