By Charles Mitchell
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Extra resources for A Short Course in International Business Ethics: Combining Ethics and Profits in Global Business (The Short Course in International Trade Series)
Typical strategic factors include giving as much flexibility as possible to local management within a clear global corporate strategy. Since social needs are usually greatest in developing countries where the resources are least, the trick is to balance central themes and local application. A sophisticated global corporate citizen is likely to have most or all of the following elements: • A limited number of typically small projects at site or plant level which respond to local needs and are unrelated to any global themes.
Appeal to as wide an audience as possible. 14. Promote your marketing message. 15. Strengthen your image as a good public citizen. Chapter 4: Does Virtue Pay? 35 36 Chapter 4: Does Virtue Pay? Strategies for a profitable Set of Ethics Part of making virtue pay is to strategically manage your reputation to pre-empt challenges from activist groups, shareholders and the media. This is especially true for companies involved in environmentally sensitive industries. Managing Environmental Issues: A Casebook by Alfred Marcus and James Post, details a set of best practices by companies who practice SEM—or strategic environmental management—a proactive strategy to pre-empt attacks from several quarters.
Most proponents of international business ethics agree that an international code of ethical practice, and not a code based on each individual culture's unique norms and practices, will be an important tool for multi-nationals in the 21st century. The International Business Ethics Institute provides multinational corporations with these three basic principles to get started. • INTEGRATION Business ethics must permeate all aspects of organizational culture and be reflected in key management systems.