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Question 1: Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?$12.49
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Question 1: Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?
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Course
Management (ORGB)
Institution
Thompson Rivers University
Question 1: Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?
Ethical standards are essential in regulating conduct and behavior especially in a setup en...
corporations have a right andor a responsibility to influence ethics
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Thompson Rivers University
Economics and Political Science
Management (ORGB)
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PART A
Question 1: Do you feel that it is possible to develop a universal set of ethical standards for
business, or do you believe that cultural differences make universal standards impractical
and/or impossible?
Ethical standards are essential in regulating conduct and behavior especially in a setup
engaging different persons. Such standards include honesty, fairness, and responsibility.
However, they are subject to disparate interpretation based on each individual’s values.
Particularly on a business point of view, it is quite impractical to formulate universal ethical
standards for every business to follow and act upon globally. This is because people have their
own cultural identity and what may be termed acceptable by one society is wrong to another. The
western culture for instance does not resemble the Arab one likewise the Russian culture to the
United States. Hereby ethnical and political cultures toe the line world’s cultures hindering
common ethical standards.
Ethnicity is a considerable ethical standards factor of disparity for businesses. The
surrounding community in which a business operates affects its values. According to the
National Institutes of Health (2015), “there are six ethnic categories constituting the American
Indian or Alaska Native, Asian, Black or African American, Hispanic or Latino, Native
Hawaiian or other Pacific Islander and the whites”. This classification bases on a people’s origin,
tribal affiliation, and communal attachment. The people of North and South America in this case
categorize as American Native and the same transpires in the other ethnic groups. In these groups
the language spoken is different same to religion and race. A business operating in the Asian will
therefore have to maintain its relation with the Asian people making them key stakeholders for
the business. Hinduism and Islam are the most common religion in this region and each dictates
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