Business ethics in emerging markets
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Business ethics in emerging markets
In recent years, emerging markets have witnessed significant growth and development, attracting the attention of multinational corporations seeking new opportunities. As these markets expand, the importance of upholding strong business ethics becomes increasingly crucial. Business ethics encompasses principles and standards that guide the behavior of individuals and organizations in the business world. In emerging markets, where cultural, legal, and societal norms may differ from established markets, businesses face unique ethical challenges. This essay explores the key aspects of business ethics in emerging markets and highlights the importance of ethical practices for sustainable growth and development.
One of the primary ethical challenges faced by businesses in emerging markets relates to corruption. Corruption, characterized by bribery, embezzlement, and nepotism, can hinder economic growth, distort competition, and undermine trust in institutions. Multinational corporations entering emerging markets must navigate the complexities of local customs and practices while adhering to ethical standards. Adopting a zero-tolerance policy towards corruption is essential, as it promotes transparency, fosters fair competition, and contributes to the establishment of a level playing field. Companies must implement robust anti-corruption measures, including comprehensive due diligence procedures and compliance programs, to mitigate the risks associated with corruption in emerging markets.
Another critical aspect of business ethics in emerging markets pertains to labor practices. These markets often feature low labor costs and limited regulatory oversight, which can lead to the exploitation of workers. Businesses must prioritize fair labor practices, ensuring that employees receive adequate wages, safe working conditions, and respect for their rights. Ethical businesses should avoid employing child labor, promote diversity and inclusivity, and uphold the principles of non-discrimination and equal opportunity. By treating workers fairly and ethically, companies can contribute to the social and economic well-being of the communities in which they operate.
Environmental responsibility is another vital consideration in business ethics. Emerging markets often face challenges related to environmental degradation and sustainability. Businesses have a responsibility to minimize their ecological footprint, conserve natural resources, and mitigate the adverse environmental impacts of their operations. Adopting sustainable practices, such as implementing energy-efficient technologies, reducing waste, and promoting recycling, can help preserve the environment and contribute to long-term business viability. Furthermore, engaging in corporate social responsibility initiatives that focus on environmental conservation can enhance the reputation of businesses in emerging markets.
Ethical behavior also extends to respecting the cultural and social values of the local communities. Emerging markets are characterized by diverse cultural backgrounds, traditions, and beliefs. Businesses must demonstrate sensitivity and cultural awareness in their operations. Respecting local customs, traditions, and religious practices is essential to build trust and establish positive relationships with stakeholders. Engaging in community development initiatives, supporting local businesses, and investing in education and healthcare are examples of ethical practices that contribute to the overall well-being of emerging markets.
Transparency and accountability are integral to ethical business conduct in emerging markets. Companies should promote transparency in financial reporting, corporate governance, and supply chain management. Transparent practices build trust with stakeholders and help prevent fraudulent activities. Maintaining accurate and reliable records, conducting independent audits, and adhering to internationally recognized accounting standards are essential for ethical operations. Furthermore, establishing mechanisms for reporting unethical behavior and addressing grievances is crucial for maintaining accountability and fostering a culture of integrity within organizations.
In conclusion, business ethics in emerging markets play a pivotal role in promoting sustainable growth and development. Multinational corporations entering these markets must navigate unique ethical challenges related to corruption, labor practices, environmental responsibility, cultural sensitivity, and transparency. Upholding strong ethical standards not only safeguards the reputation and long-term viability of businesses but also contributes to the economic, social, and environmental well-being of the communities in which they operate. By embracing ethical practices, companies can foster trust, build positive relationships with stakeholders, and contribute to the overall progress of emerging markets.
Business ethics in emerging markets
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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