Business ethics nature Essay Example | Topics and Well Written Essays - 4250 words

Business ethics nature - Essay Example Numerous ethical problems have been identified in the article which impact on the business of multinationals in foreign nations. Besides, the article highlights the aspect of culture which can also have an impact on ethical business performance (Lau, 2013). The objective of the report is to discuss the article in brief regarding the essence of its topic and ethical aspects. The report also discusses the ways of resolving the identified issues of ethics and culture faced by people. An Overview of the Essence of the Article The article discusses about globalisation, cultural shock and significance of teaching business ethics. It is a common awareness that business and ethics are not companionable, due to this reason, business at times contributes to unethical manners of commercial activities. Several business scandals, in recent times, prove the fact that unethical business activities are prevalent in organisations. However, unethical activities have their own costs. Due to these inher ent costs, which are related with unethical business activities, this trend is gradually changing since executives distinguish that unethical business decisions have an influence on the goodwill of an organisation (Lau, 2013). The article also emphasised on teaching business ethics in universities. Ethics in this context is considered as a set of principles people use in order to determine whether their actions are good or bad. Every organisation faces certain ethical consequences. Ethical organisations attract quality employees and the prevailing ethical practices result in higher level of job satisfaction. It is a common fact that in the long run, ethical organisations can financially overtake unethical organisations (Lau, 2013). Discussion The article discusses about globalisation and the impact of culture on making adjustments in a foreign nation. Furthermore, the article also discusses about understanding the importance of business ethics in modern day business environment. In this context, it can be stated that globalisation is creating universal standards for commercial activities and these activities are becoming more demanding in multinational organisations. Since more multinational organisations are adopting these standards, it becomes ever more vital for every business to develop companywide core principles, standards of behaviour and relevant policies which are in tune with the world ethics and compliance environment (Dutton, 2011). The article states about cultural shock which is experienced by students who arrive in a foreign country for the purpose of study or for occupation. In a foreign nation, people require to make certain adjustments. In essence, cultural shock is common for every individual when they experience an unaccustomed mode of life in a new nation. To put in simple words, cultural shock is considered as a simple travel to other sort of life. In modern days, cultural shock plays vital part in intercultural communication and in assoc iated disciplines such as cross-culture education (Dutton, 2011). The multinational organisations have to predominately deal with the notion of cultural shock amid a number of their expatriate