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Lecture 10

ETHC 3P82 Lecture 10: Business Ethics-International Business

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Brock University
Thomas Mulligan

Business Ethics: International Business, Sweatshops, and Child Labour Globalization: • The process by which a company places its operating units in more than one nation, thereby becoming what is sometimes called a ‘multinational” enterprise • Foreign Direct Investment (FDI) is an investment made by a company or individual in one country in business in business interest in another country, in the form of wither establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company. Investing in less developed countries raises many ethical questions: Such as how much should a Multinational company pays its employee? What if the employee moves from the home country to the host country or vice versa? 1. Home country standards: pay the same as in the home country 2. Living Wage Standards: Allow workers to live in dignity as human beings 3. Classical liberal Standards: Pay market rate for labour *Is it better for organization to provide no jobs at all or to offer one that pays less that a living wage?* Globalization –Ethical Relativism 1970’s and 1980’s: What is really right or wrong is what the culture says is right or wrong • There are no universally valid moral standards that can be justified as appropriate for evaluating the behaviour of people in all cultures • Each social group has its own moral tradition and values, and members of a given group must rely on the traditions and values prevalent t in their own group, or even on the particular attachment s that ties members of the group to each other, to resolve moral questions that they face Problems with Ethical Relativism: • Relativisms would substitute unpredictability for moral justification. By themselves the values of one particular culture are no more, or less, justified than the conflicting values of another culture, the Buddhist monk v
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