Impact of Privatization of Hospital Services in Canada

BUSINESS ETHICS

Table of Contents
Introduction......................................................................................................................................2
Part A...............................................................................................................................................2
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?.......................................................................................................................2
Question 2: Do corporations have a right and/or a responsibility to influence ethics in the
countries in which they operate? Defend your position..............................................................3
Part B...............................................................................................................................................3
Section 1: Introduction................................................................................................................3
Section 2: Rationale:....................................................................................................................3
Section 3: Impacts (What does this mean to my family?)...........................................................5
Section 4: Impacts (What does this mean to my community?)...................................................5
Section 5: Impacts (What does this mean to my country?).........................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
1

Introduction
Ethics play a vital role in securing the success of corporate or governmental organizations.
Ethical responsibilities of enterprises and corporations have been an essential feature in gaining
popularity and acceptance in the society. Following ethical guidelines is absolutely necessary in
contemporary workplaces in order to run smoothly. The satisfaction of employees and other
stakeholders depend on ethical practices carried out in the workplace (Kolk, 2016). A positive
ambience in the workplace is a primary need for the organization to function properly. Therefore,
following ethical guidelines is one of the crucial factors that need to be considered regarding a
workplace.
Another major element in contemporary business market is social responsibility. New business
studies show the need of contributing to the environment and society as a means to restore
balance and sustainability. The large-scale business processes often lead to adverse effects on the
environment and society, like inequality, pollution, depletion of natural resources and more. The
concept of Social responsibility emphasizes on the need to give back o the society they’ve been
taking from in order to survive the transforming business conditions (Rodriguez-Fernandez,
2016). This paper aims to explore the various factors of ethics and social responsibility and
assess their impacts internal as well as external environments.
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?
Thomas Donaldson demonstrates and illustrates in ‘Values in Tension: Ethics Away From
Home’, ethical standards are becoming increasingly important with the expansion of business
territories and world market. Cultural relativism and ethical imperialism will more likely secure
the impossibility of accepted business standards all over the world. The differences in cultures,
values and opinions make for a significant amount of knowledge that indicates the irrelevance of
2

universal ethical codes. After reading the Donaldson article, it is sure to us that it is impossible to
develop and establish a universal set of accepted business standards and ethics. Each country has
their own set of values or traditions that might not relate with other countries. As per the
humanity’s response to the Universal Declaration of Human rights, we can ensure to follow the
basic human rights and ethics like respect for other people, good citizenship etc., we can build a
universal set of global business ethics.
The cultural difference amongst an organization’s employees can make certain ethical standards
irrelevant or unnecessary (Trevino & Nelson, 2016). On the other hand, being more inclusive
about the cultural differences can not only help in devising a relevant code of ethics but also
comprehend the cultural differences to their own benefits. For example, an issue of sexual
harassment would be dealt differently in different organizations, according to their respective
values and cultures. Hence, it can be said that though it is not possible to devise a universal
ethical standard, it is possible to create a customized ethical code, including essential values from
all the cultures involved.
Question 2: Do corporations have a right and/or a responsibility to influence ethics
in the countries in which they operate? Defend your position.
Yes it is the responsibility of large-scale corporations to influence the ethical values in the
countries that they operate (Robinson, Tewkesbury, Kemp & Williams, 2018).From the
Donaldson article again, we can take the example of the 1950s Motorola Executive who refused
to bribe foreign officials despite of valuable profits guaranteed. From this case, we can recognize
the positive influence it is having on its competitors and the values and ethics that are projected
in this case. It can be considered a basic social responsibility for all corporate organizations to
create an ethical culture that imbibes relevant elements from all the cultural standards. In a
country with high economic and social instability, the basic aim of all corporate organizations is
to return the lost stability and balance (Page, Chen, Gibson & McMillan, 2016). Since corporate
organizations contribute a long way to disrupting economic balance in society and increases the
gap between the rich and the poor; it is necessary that these organizations take up necessary steps
to look after the fact that all members of the society is treated equally and receives equal access
to services and healthcare.
3