Research Paper: Ethics of Doing Business in INdia

Pages: 4 (1303 words)  ·  Bibliography Sources: 4  ·  Level: Master's  ·  Topic: Business  ·  Buy This Paper

SAMPLE EXCERPT:

[. . .] One of the business attitudes in India holds that business cannot be done without people paying any bribes (Ameer, & Othman, 2012). The implication is that giving and receiving kickbacks is a justified practice in the country. It also implies that an ethics program cannot be practical because it will lead to the business suffering. The mindset among most of the people is that business growth can only occur when some compromises are done. The result is that ethical behavior is not one of the things used in the evaluating the performance of managers. Therefore, it is important for a company to build an ethical culture as part of its business strategy. It also means that there is need to have processes that monitor the ethical behavior (Warren, Gaspar, & Laufer, 2014).

In the USA, the case is different because corruption is not tolerated. It means that the company has to make sure that it takes ethics seriously in all its operations. One of the things that can be done is to ensure that employee appraisal incorporates some bonus points for the employees who use ethical means to meet the targets. Some penalty points should be awarded in case some unethical means were used to achieve the target. The same should apply to the recruitment process where the company should reject any person who is thought to have been involved in any fraud during the application process (Berger & Herstein, 2014).

Business ethics requires the company to ensure that all its operations are done accordance to the ethical standards. Expanding to India means that a company will have to adjust to the status in India. However, based on the constitution of the country, companies should not be operating the way that they usually do. The constitution prohibits bribes and corruption. Therefore, expansion into India requires the company to retain the mode of operation as it is in the USA. This will act as an example to the other companies and organizations operating in India. As stated, one of the main challenges that face India is the implementation of the laws that have been adopted in relation to ethical practices (Berger & Herstein, 2014).

India as a fast growing economy faces some challenges when it comes to Business ethics. Regulations in business only affect those who cannot give bribes to the authorities. Such actions can destroy the economy of the country in one way or another because the money that should have been collected as taxes is lost through corruption. The labor laws are the same as those in the USA, which means that the country has the same set of standards but the implementation of these laws is the difference. The implication is that India needs a change in the status quo if any progress in business ethics is to be made (Warren, Gaspar, & Laufer, 2014).

Despite the obvious challenges and obstacles in the successful establishment of operations, India is a lucrative market that any intentional company must desire to invest. When ethical issues become a challenge, the managers must ensure that they do not break the laws of their parent country. This can be detrimental because of the fines they could receive especially on corruption cases. Leaders in India must also work hard to establish a favorable business environment as a strategy to being a strong global economy.

References

Ameer, R., & Othman, R. (2012). Sustainability Practices and Corporate Financial Performance: A Study Based On the Top Global Corporations. Journal of Business Ethics, 108(1), 61-79.

Berger, R., & Herstein, R. (2014). The Evolution of Business Ethics in India. International Journal of Social Economics, 41(11), 1073-1086.

Sekerka, L. E., Comer, D. R., & Godwin, L. N. (2014). Positive Organizational Ethics: Cultivating and Sustaining Moral Performance. Journal of Business Ethics, 119(4), 435-444.

Warren, D., Gaspar, J., & Laufer, W. (2014). Is Formal Ethics Training Merely… [END OF PREVIEW]

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APA Format

Ethics of Doing Business in INdia.  (2017, February 11).  Retrieved March 25, 2019, from https://www.essaytown.com/subjects/paper/ethics-doing-business-india/2746636

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" Ethics of Doing Business in INdia."  11 February 2017.  Web.  25 March 2019. <https://www.essaytown.com/subjects/paper/ethics-doing-business-india/2746636>.

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" Ethics of Doing Business in INdia."  Essaytown.com.  February 11, 2017.  Accessed March 25, 2019.
https://www.essaytown.com/subjects/paper/ethics-doing-business-india/2746636.