bmgt 496 | bmgt 496 | University of Maryland University College
Business environments, both domestic and international, present ethical dilemmas ranging from corruption/bribery to the exploitation of vulnerable populations. Companies can become involved in bribery when they offer employees incentives or give customers other benefits to beat their competition. Another problem is corruption, which happens when businesspeople use their position to break the law for personal gains. All these actions have grave legal and financial consequences, and therefore are considered unethical.
If businesses fail to adhere to standards, they can face a number of ethical problems, including environmental degradation and exploitation. Companies must ensure they conduct their operations responsibly by adhering to relevant laws & regulations plus being aware any potential risks associated with dealing overseas.
In conclusion, understanding/abiding by ethics is essential when it comes conducting business both domestically as well internationally since failure do so could lead numerous adverse outcomes including financial losses/legal repercussions over time. This is why organizations should prioritize ethics regardless of the context. Otherwise, complications could follow.