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Essay / Research Paper Abstract
A 6 page research paper that examines the topic of ethics as it is applied to today's global marketplace and the large multinational corporations are involved in globalization. The writer demonstrates how these corporations are now being held accountable for the impact of their company practices on local economies and local environments, regardless as to whether or not the company is following the letter of the law. Bibliography lists 3 sources.
Page Count:
6 pages (~225 words per page)
File: D0_Businteth.doc
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Unformatted sample text from the term paper:
term, it has usually produced quick profits for shareholders. However, there appears to be a growing trend among international business corporations to pursue ethical standards. Nevertheless, the public is also
making these corporations more and more accountable as they examine the ramifications of business practices that go beyond their mere legality. According to Kinnear (1995) who was a former president
and CEO of Texaco Oil, doing business ethically is simply a superior way to do business. Kinnear states, "Ive seen the results when people try to cut ethical corners and
bend or break the rules in search of some short-term gain" and the "ethical approach eventually wins hands down" (p. 561). Kinnear (1995) also maintains that ethical behavior in
international business is the rule rather then the exception. For one thing, Kinnear points out that the ethics of American business have been strengthened over the last twenty years by
a series of laws and reforms. For example, theres the 1977 Foreign Corrupt Practices Act, which forbids American corporations from bribing foreign officials (Kinnear, 1995). No other country has such
a law on the books and some argue that this puts American business at a disadvantage as bribery and kickbacks are a standard practice in many countries (Kinnear, 1995).
For example, a French firm is not only allowed to bribe a foreign official legally, but the amount can be deducted from the companys tax returns. Nevertheless, Kinnear (1995) believes
that the law has not hindered American business, but helped it. Because of the law, American businessmen have a diplomatic way out when bribe-seeking officials approach them. "Not only do
we save the money otherwise spent on bribery, but we avoid the morass of distrust and deceit that almost inevitably follows once the bribing begins" (Kinnear, 1995, p. 561). Additionally,
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