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Ethical Standards in Business

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US ethical standards in business are generally considered fair and reasonable by countries of similar developmental status. What would happen if a corporation assumed that US ethical standards are acceptable to all countries or regions where they intend to do business? What could be some of the consequences of failing to consider other ethical standards? Provide an example.

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Solution Summary

Ethical standards in business are examined. The consequences of failing to consider other ethical standards are determined.

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Although US ethical standards are generally accepted in most developed nations, this is certainly not the case universally. If a firm operated in a new region or regions while assuming that all US ethical standards were acceptable, they would be in for a rude awakening and would risk loss of business due to ostracizing themselves from the norm or, worse still, ...

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