This article discusses the darker side of international business, including illegal and unethical activities such as human trafficking, bribery, and cybercrime. It also provides solutions to create a sustainable future for international business. The article cites various sources and examples to support its claims.
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Running Head: SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Sustainable International Business Future Name of the Student Name of the University Author Note
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1SUSTAINABLE INTERNATIONAL BUSINESS FUTURE SlideTopicImageScript Slide 1 The concept of Black International Business Source- www.abc.net.au(2018) The darker side of Conventional International Business (IB) is called the ‘black international business’. Many illegal and unethical activities are related to the international market (Christians 2017). The necessity of re – exploring the darker aspects of international business grew up few decades ago
2SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Slide 2 Source- www.theaustralian.com.au(2018) The major reason behind black international business is the human greed for power, money and authority Slide 3 Illegal business of human trafficking Source- www.theepochtimes.com(2018) The examples of black international business can be taken from the distant past when human trafficking and criminal trade in heroine were common (As- Saber and Cairns 2015). Such activities are encouraged by illicit illegitimate and criminal
3SUSTAINABLE INTERNATIONAL BUSINESS FUTURE organizations. Slide 5 Instances in Australia Source – www.alluremedia.com.au(2018) Anotherinstance is of NPA or the NotePrinting Australia which is asubsidiaryof RBAhasalso beenallegedof bribingforeign officials(Rao Gopi and Maione 2016).The bribinghasbeen done with Nepal , Nigeria, Indonesia, Vietnamand Malaysia in order to secure lucrative note–printing contracts(Lee 2018).
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4SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Slide 6 Instances in Australia Wheatproductionin Australia Source- www.abc.net.au(2018) It is publicly known that the Australian Wheat Board (AWB) regularly bribed the region of Saddam in order to freely sell wheat in Iraq(As- Saber and Cairns 2015). Slide 7 Black International Business’ taxonomy. According to the taxonomy of black international business based on termsofethics andlegitimacy perspectives, there are four types of black international business including thelowbusiness legitimacy,low
5SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Source-www.smh.com.au(2018) ethical orientation, highbusiness legitimacyand highethical orientation(As- SaberandCairns 2015). Slide 8 Elaboration of the taxonomy Source-www.illicit-trade.com(2018) Therearetrades whichare government sanctionedand ethical too. There isalsoanother typeoftrade whichisfully unethical.Some international sales areclassifiedas fully illegal by the governmentand unethical too (As- SaberandCairns
6SUSTAINABLE INTERNATIONAL BUSINESS FUTURE 2015). Slide 9 Unethical business practices The international business activities can either be good or bad. The major activities of black international business in Australia are the legal and the unethical. The role of any business is to serve the demands of the society and preserve the common good. The Australian black business include money laundering, labor exploitation, drugs and heroin
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7SUSTAINABLE INTERNATIONAL BUSINESS FUTURE smuggling, Slide 10 Prevalent typesof business operations in Australia The most prevalent type of black business in Australia is women and child trafficking. The Australian Police has been found to be raiding the brothels of the country to check whether any illegally trafficked women are being victimized (As- Saber and Cairns 2015). Slide 11 Business operations ( Labor outsourcing It is observed that the nation Australia is having considerable number of its
8SUSTAINABLE INTERNATIONAL BUSINESS FUTURE citizens, going to other states in search of jobs and the various agencies are providing them the opportunity to work for various organizations. Companies across the border are also hiring them for their business operations. But in recent time a significant issue that is affecting the good will and the safety of the people of Australia is evolved in the form of Human
9SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Trafficking (As- Saber and Cairns 2015). Slide 12 Business Operations ( Informatio n technology industry) The IT industry is significantly expanding in Australia as the nation is able to observe higher rates in literacy in the modern times and rapid increment in dependency of the technological advancement regarding the information exchange in the military or other confidential matters of the government is
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10SUSTAINABLE INTERNATIONAL BUSINESS FUTURE observed. With the important information at stake, the illegal and unethical interruption from different national and international sources is affecting the operations in a significant manner. As a result, the organizations are observed to transfer information in a disguised manner with the introduction of the unusual coding of
11SUSTAINABLE INTERNATIONAL BUSINESS FUTURE the information (As-Saber and Cairns 2015). Slide 13 Business operations ( Arms and Weapons selling ) Source-www.smh.com.au(2018) The nation has implemented strict rules on the retailers, suppliers and manufacturers of the organizations, which are selling the weapons (As- Saber and Cairns 2015). In recent times it is observed that the organizations are significantly attached in unethical and criminal conduct of selling the weapons to the
12SUSTAINABLE INTERNATIONAL BUSINESS FUTURE customers who are not able to fulfil the guidelines of purchasing them. The sole interest in this case is to generate profit by handing weapons over to the terrorist groups and the extremist agencies (As- Saber and Cairns 2015).
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13SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Slide 14 Business operations ( Banking Sector ) Source – www. afr.com (2018) In recent times the Australian people are observed to face innumerable number of banking fraud cases where the online transaction section is observed to face the maximum impact. The information of the credit and the debit Slide 15 In recent times the Australian people are observed to face innumerable number of banking fraud cases where the online transaction
14SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Source – www. reuters.com (2018) section is observed to face the maximum impact. The information of the credit and the debit cards or the customer’s account is getting to the hands of the third parties who are using them to take away all the assets of the customers. The digital payment section of the banks are observed to face the issue in the above mentioned manner and an example of such
15SUSTAINABLE INTERNATIONAL BUSINESS FUTURE an event will be the case of commonwealth bank data loss earlier this year. Slide 16 Business operations (Banking Sector ) Along with the corruption in the digital payment section, the banking sector is also subjected to unethical loan approvals. In recent time, Several Australian corporate organizations are observed to get the huge amount of loans without following the proper guidelines. The banks are
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16SUSTAINABLE INTERNATIONAL BUSINESS FUTURE observed to approve those loans unethically in hope to get high returns. The banks incorporated the idea of reducing the interest rates on the general business schemes as a backup plan for compensating the loss in the non-payment of those unethically approved huge loans. This in an unethical manner, helps in the growth of the darker side of the International Banking business.
17SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Slide 17 Solutionto labor outsourcing Source -www.smh.com.au(2018) The Australian government is need to employ strong regulatory rules in order of get rid of the issue (abc.net 2018). The ministry of external affairs of Australian Government must implement close monitoring of their citizens. Slide 18 Solutionto IT Thegovernment mustforma cyber-cellsection wherethepolice willbededicated tohandlethe cyber-crime relatedcases (Howe and Reilly
18SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Source- www.reuters.com (2018) 2015).The disturbances in the formunethical data tampering or stealingfromthe partofthe International hackingagencies issignificantin recenttimesand the recruitment of considerable numberofcyber expertswillbe crucialfromthe partofthe governmentin dealingwiththe issue.The governmenthas significantly strict rules in this case butitmust
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19SUSTAINABLE INTERNATIONAL BUSINESS FUTURE implement effective applicationand monitoringof thoserules.The formationofa specialized detectiveagency isasignificant needinhanding thesesortof threats,whowill be able to monitor the application of the rules and will alsohavethe rights to take legal action in any sort of misconduct. Slide 19Solutionto banking sector Theintroduction of the disciplinary actionsfromthe
20SUSTAINABLE INTERNATIONAL BUSINESS FUTURE partofthe government towards the banks is a much needed strategy in order to reduce the cases of dataand information losing. The government is alsoinneedto implementstrict rulesinorderto force compensation from thebankswhich areobservedto losethe informationof theircustomers (Anderson, BENBOWand Manzin 2016).
21SUSTAINABLE INTERNATIONAL BUSINESS FUTURE Slide 20Solution to Banking Sector It is much needed fromthepartof the government to haveanunbiased assessmentofthe business conductionofthe banking organizationsand in order to do so they must recruit a teamwhichwill have the authority toconductthe internalauditof thenon- governmental organizations. That willbe instrumentalin makingsurethat thegeneral customersdonot
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22SUSTAINABLE INTERNATIONAL BUSINESS FUTURE havetofacethe impactofthe compensation procedure in cases ofnon-regular paymentsofthe loans. Slide 21Reference /2018/07/phoenix-pwc.jpg abc.net(2018).Australia failsto improverankingin global corruptionindex.[online]ABCNews.Availableat: http://www.abc.net.au/news/2017-01-25/australia-fails-to- abc.net.au (2018).Fears extremists are travelling to Australia throughMalaysia.[online]ABCNews.Availableat: http://www.abc.net.au/news/2018-09-16/criminals-faking- malaysian-identities-to-obtain-australia-visa/10237506 [Accessed 12 Oct. 2018]. afr.com (2018).Hayne drives out fringe dwellers of financial services.[online]FinancialReview.Availableat: https://www.afr.com/business/banking-and-finance/financial- services/hayne-drives-out-fringe-dwellers-of-financial-services-
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25SUSTAINABLE INTERNATIONAL BUSINESS FUTURE firearms-seized-during-raid-on-frenchs-forest-home-20180803- p4zve8.html [Accessed 12 Oct. 2018]. reuters.com(2018).Australia'sCBAhitwithlawsuitover pensioninvestments.[online]U.S.Availableat: https://www.reuters.com/article/us-australia-banks-inquiry- lawsuits/australias-cba-hit-with-lawsuit-over-pension- investments-idUSKCN1MK00T [Accessed 12 Oct. 2018]. reuters.com(2018).UPDATE2-AustralianbankCEOssay inquiry was needed to expose abuses. [online] U.S. Available at: https://www.reuters.com/article/australia-banks-inquiry/update- 1-australias-commonwealth-bank-ceo-calls-money-laundering- scandal-career-low-idUSL4N1WR15A [Accessed 12 Oct. 2018]. Solomons, M. (2018).Labor candidate steps away from council job amid outsourcing controversy. [online] The Sydney Morning Herald.Availableat: https://www.smh.com.au/politics/federal/labor-candidate-steps- away-from-council-job-amid-outsourcing-controversy- 20180913-p503m2.html [Accessed 12 Oct. 2018]. theaustralian.com.au(2018).SubscribetoTheAustralian| Newspaper home delivery, website, iPad, iPhone & Android apps.[online]Theaustralian.com.au.Availableat: https://www.theaustralian.com.au/news/nation/police-targeted-
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