Business Ethics Essay Example | Topics and Well Written Essays - 1000 words

Business Ethics - Essay Example International Business Ethics These entail rules and regulations set forth to control the business between countries in the world in order to enhance trade between them, bringing out globalization. Globalization diminishes the set barriers between countries on the globe for trade to occur smoothly. Examples of transactions that fall within the ambit of international business ethics include fair trade movement and transfer pricing. The factors looked at to come up with significant international business ethics include the exchange rates, economic growth and rates, working environment, the government control involved and the social ethics involved (Casson 97). International corporations operating in host countries may be perplexed by the customs, rules and laws of the country, some of which conflict with cultural guidelines of their home states. This presents numerous ethical complexities universally; for example, the certain governments’ expectations. Different employees in the many departments in a foreign culture cannot be accorded same salary standards and promotional standards as the ones back home. This is due to different working conditions and environments in the different countries, and also various rules and regulations in conducting business in different countries. For example, economic status of developed countries tends to differ with that of developing countries and the currencies of countries have different values (Casson 97). Various theories of ethics involved include rationality, social ethics and communitarism. Rationality This is a concept used in business, which involves the reasoning of people involved in a business with the motive of solving a problem or achieving a goal in business. As noted by Casson, in international business, the concept of bounded rationality is a key element in the transaction cost theory version of Williamson’s (1975). It also underpins the Hedland’s (1993) arguments that favor the network firm ( Casson 98). Various countries’ representatives come together and discuss certain issues affecting international trade and come up with certain guidelines, which benefit each and every player involved in the international business. The various issues discussed include the exchange rates of different currencies of all world countries. In addition, there has been the formation of various organizations that maintain stability of the different world currencies. These include the World Bank and the International Monetary Fund, which assist countries in maintaining a superior economic position and help in times of economic crisis (Casson 98). Social ethics These include the appropriate behaviors of certain peoples as a whole, especially with regard to their different perspectives on things and beliefs in their various cultures. In such societies, the current principles and values dictate how people should act and deal with one another by setting certain behaviors or standards that s hould be followed by members of society. Factors considered within social ethics include language, race, gender, culture, religion and education, among others. In international business, social ethics is a vital issue as various countries have di

Internship Hedge Fund in Sandell Asset Management Essay

Internship Hedge Fund in Sandell Asset Management - Essay Example Under this environment, many are the times that the day was fully packed with responsibilities but it is a phenomenon that I came to adjust to after my first month when all the tasks became familiar. The firm’s members of staff were quite helpful especially in the first months when I needed them most for guidance to work effectively and efficiently and this made me feel to be part of the firm just as they were (Sweitzer and  King 29-122). It is important to note that the aforementioned duties kept on being added to my in-tray as time went by and as I gained more and more experience of the various fund operations. The job was actually paid and I was earning $17 an hour which I considered fair enough being an intern. When enrolling for the internship I had clear goals and objectives that I aimed at achieving by the end of the period as an intern. The first was to take a test of myself in relation to the field and see whether it is the career line I am willing to take. I was al so aiming at applying the theory learned into practical experience and this was well fulfilled in the work environment. I wanted to learn and acquire work habits in relation to keeping time, enhance my interpersonal skills in a work environment and gain some sense of responsibility. I also endeavored to gain the much-needed experience in my field of study to support my awards and certificates. After an evaluation of the above goals, I realize that I achieved them well as expected. The main challenge that I faced was on handling all the aforementioned tasks within one day as it demanded a great deal of commitment and uprightness on my part. At one point I had just a few responsibilities when the manager in my department offered me the chance to explore more and added me four of the above-mentioned ones especially those that dealt with research and analysis of data and information. This is a line that facilitated a wide scope of knowledge acquisition (Sweitzer and  King 29-122).