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MGF5020 Business Ethics In Global Environment | Report

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Monash Universtiy

   

Business Ethics In A Global Environment (MGF5020: Business Ethics In A Global Environment)

   

Added on  2020-02-18

MGF5020 Business Ethics In Global Environment | Report

   

Monash Universtiy

   

Business Ethics In A Global Environment (MGF5020: Business Ethics In A Global Environment)

   Added on 2020-02-18

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Running head: BUSINESS ETHICS IN GLOBAL ENVIRONMENTBusiness Ethics in Global EnvironmentName of the Student:Name of the University:Author Note:
MGF5020 Business Ethics In Global Environment | Report_1
1BUSINESS ETHICS IN GLOBAL ENVIRONMENTExecutive Summary:The report here gives a brief overview of the business ethics in global environment. Further,the report defines ethics and discusses about the background with an elaboration on the needfor implementation of business ethics. The report explains why at all ethics was needed inbusiness. There is also analyses and evaluation of various codes of ethics in businessenvironment and the relation that business holds with the stakeholders. The report also givespersonal reflections and implications for business practice in the report.
MGF5020 Business Ethics In Global Environment | Report_2
2BUSINESS ETHICS IN GLOBAL ENVIRONMENTTable of ContentsIntroduction......................................................................................................................................3Background......................................................................................................................................3Explanation......................................................................................................................................4Analysis and Evaluation..................................................................................................................5Personal Reflections and Implications for Business Practice..........................................................9Conclusion.....................................................................................................................................10References......................................................................................................................................12
MGF5020 Business Ethics In Global Environment | Report_3
3BUSINESS ETHICS IN GLOBAL ENVIRONMENTIntroductionThe report here discusses about the business ethics in global environment. The reporthere defines ethics as the morality basis on which moral judgments, standards and rules ofconduct not only addressed but also identified for a business. The report also discusses aboutthe background with an elaboration on the need of the implementation of business ethics.Then is report also explains why at all ethics was needed in business. There is also analysesand evaluation various codes of ethics in business environment and the relation businessholds with the stakeholders. There are also a personal reflections and implications forbusiness practice in the report. Background The evolution of business ethics has been a result of myriad changes occurring inbusiness over time. The common way of determining the actual meaning of an upstandingcitizen, an active participant, a decent individual and an excellent tool for some with goodleadership skills is through Ethics (Ferrell & Fraedrich, 2015). Therefore, ethics defined asthe morality basis on which standards, moral judgments and rules of conduct not onlyaddressed but also identified. In this regard, business ethics defined as ideals, standards andvalues responsible for guiding behavior in a business climate. Thus, in this context, mostorganizations define principles that are specific for outlining the pervasive boundaries ofbehavior that are absolute and all encompassing. Thus, in business, norms remain based onprinciples that gets social acceptance and based on accountability, trust and honor. The issues faced by workers in the 1920s helped in drawing attention not onlytowards the harsh working conditions but also to the child labor laws (Mnookin & Weisberg,2014). This was a period when capitalism was a concept that played a pivotal role in theevolvement of the business ethics. During this time, a progressive movement ensured citizens
MGF5020 Business Ethics In Global Environment | Report_4

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