Issues in International Business

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International business faces a host of social issues. They include business ethics, social responsibility, environmental factors and labor standards. Business ethics refers to a set of moral principles that needs to be followed while doing business.

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Issues in International Business

  1. 1. Chapter 23Some Issues In International Business International Marketing Ch-23 Some Issues in International Business
  2. 2. Objectives What is business ethics What is the social responsibility of business what are environmental issues What are labor issues International Marketing Ch-23 Some Issues in International Business
  3. 3. Introduction There are several important issues in international business. This chapter consider four of them:1. Business ethics2. Social responsibility3. Environmental factors4. Labour standards International Marketing Ch-23 Some Issues in International Business
  4. 4. Business EthicsThe varying ethical norms and social values,make the international business environmentvery intricate and perplexingThe term business ethics refers to thesystem of moral principles and rules ofconduct applied to businessIf the harmful effects of a product outweighthe benefits, a company with sound ethicswill not do business in that product even ifthere is no legal objection. International Marketing Ch-23 Some Issues in International Business
  5. 5. Social Responsibility OfBusiness In the environment of modern economic development the corporate sector no longer functions in isolation. If the plea of the companies that they are performing a social purpose in the development of the country is to be accepted, it can only be judged by the social responsiveness shown to the needs of the community by the companies. International Marketing Ch-23 Some Issues in International Business
  6. 6. Singhania has classified the nature of the social responsibility of business into two categories.1. The manner in which a business carries out its own business activity.2. The welfare activity that it takes upon itself as an additional function. International Marketing Ch-23 Some Issues in International Business
  7. 7. Primary Objectives Of a Responsible Company1. The extension, development and improvement of the company’s business and the building up of its financial independence.2. The payment of fair and regular dividends to the shareholders.3. The payment of fair wages under the best possible conditions to the workers.4. The reduction in the prices to be charged to consumers. International Marketing Ch-23 Some Issues in International Business
  8. 8. Secondary Objectives Of aResponsible Company1. To enhance labor welfare2. To enhance customer service and goodwill.3. To assist in developing and promoting the amenities in the locality.4. To assist in developing the industry of which the firm is a member.5. To contribute to national goals. International Marketing Ch-23 Some Issues in International Business
  9. 9. Environmental Issues Increasing discussion the international horizon Developed nations some time raise environmental issues as a trade barrier or a coercive measure rather than for genuine reasons. International Marketing Ch-23 Some Issues in International Business
  10. 10. Labor Issues Ill-treatment of labor and children Some multinationals are criticized for sourcing products from developing countries benefiting from the sweat labor. Another important issue is right of trade unions International Marketing Ch-23 Some Issues in International Business
  11. 11. Summary Some of the most important social issues international business includes: business ethics, social responsibility, environmental factors, and labor standards. Business ethics refers to the system of moral principals and the rules of conduct applied to business. International Marketing Ch-23 Some Issues in International Business

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