Global Business and Ethics Essay - 852 Words

Global Business and Ethics 1. Any company doing business in the United States and abroad has a responsibility to be socially responsible. This responsibility is guided by business ethics Ââ€" basic values that guide a firms behavior. These ethics come into all decisions made by businesses. Including what goes into the products, how they are advertised and sold, and how they are disposed of. Wal-Mart, the worlds largest retailer, is the largest corporation and private employer in the United States. Wal-Mart is consistently listed among Americas most admired companies by Fortune magazine. At the same time, it is frequently the target of criticism for its employment practices and its effect on the larger economy and community. How†¦show more content†¦This giant in the retail market puts stores up anywhere it can. This makes it hard for local stores to make it because they cant offer the same low prices without taking a loss. I have a friend whose dad is a store manager at a grocery store in my ho metown. Wal-Mart is building a Super Center in this town. My friends dad had to decide whether to stay on a commission paid system or take salary. Needless to say my friends dad, worried about the business doing well took salary and will take a huge pay cut. This is a personal experience. I know not every person will be affected in this way with Wal-Mart coming into town. Some people will even gain jobs and save a lot of money by shopping there. But, I dont think this is such a good thing. I think it is more important to help out the smaller businesses of the town then support a huge company. 3. Ethnocentrism is the tendency to prefer products or people of ones own culture. Ethnocentrism has affected Wal-Mart in entering foreign markets. Wal-Mart has had great success in Mexico, Canada, and Germany. With only 2 stores in Mexico in 1992, Wal-Mart has grown to over 640 in Mexico and 240 in Canada. In Germany many customers are used to service with a snarl. These same customers enjoy the friendlier demeanor of Wal-Mart associates. (Marketing. Real People Real Choices. Page 96) Wal-Mart hasnt been without failure in foreign markets due to ethnocentrism. In Japan the multi-tiered distribution system,Show MoreRelatedEthics And The Global Banking And Business1876 Words   |  8 PagesWhat is ethics and why it is important in global banking and business? Ethics has been a topic of discussion for many years between scholars, professors, students, companies, and many other living in this century. According to a Santa Clara University business student, ethics could not be defined the same by individuals. Ethics cannot be â€Å"pinned down† to a certain definition, meaning that people perceive the word â€Å"ethical† in many different ranges. 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