Book Title: Strategic Horizons in the Modern Management
Editors: Dr. D. Kinslin, Dr. S. Edmund Christopher, Dr. K. Sankar Ganesh, and Dr. S. Fenin Samuel
ISBN: 978-81-69297-58-5
Chapter: 5
DOI: https://doi.org/10.59646/715/5
Author: Dr. Kavitha Rani. R
Abstract
This chapter explores the complexities of business ethics in an increasingly interconnected global economy. It defines business ethics and explains how globalization has amplified ethical challenges for multinational corporations, particularly as they operate across diverse cultural, legal, and social environments. Key ethical issues such as labour practices, environmental impact, corruption, and corporate governance are discussed. The chapter also examines the role of ethical leadership and corporate governance in ensuring companies adhere to ethical standards, including international frameworks like the UN Global Compact and OECD Guidelines. It addresses the ethical dilemmas that arise from differing legal standards, particularly in supply chains, and highlights the importance of corporate social responsibility (CSR) in aligning business operations with ethical values. Case studies of ethical challenges in global business contexts, such as bribery in international deals and labour exploitation, are also presented. Lastly, the chapter underscores the need for businesses to balance profitability with ethical responsibilities to stakeholders, consumers, and communities.