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Homework 4 Questions
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Homework 4 Questions
1. If you were a multinational manager, and you encountered an ethical dilemma within the multinational company, what heuristic questions would you use to decide between ethical relativism and ethical universalism? Of the different heuristic questions, which one do you think is most important? Explain your reasoning.
Ethical relativism and ethical universalism are two meta-ethical ideologies that attempt to define the reason behind ethical attitudes, properties, judgments, and boundaries. Ethical universalism is perceived as the ideal world while ethical relativism is a realistic view defining why different cultures perceive similar actions differently. Heuristic questions are practical and relatively easy to answer, which you substitute for complex questions (Tanga,2004). These questions aid in finding relevant and adequate answers to difficult questions. Examples of heuristic questions that help in deciding between ethical relativism and ethical universalism:
a. Is the ethical dilemma different in your native nations?
b. Do you think the situation would be different if it was from your opposing culture?
c. Does the dilemma undermine universal principles?
These questions seek to evaluate ethical reasoning while attempting to isolate the issue from your nation and approach it from a universal perspective. The second question explores the dilemma from a different cultural lens. Isolating the dilemma into cultural components facilitates better understanding of the opposing culture (Tanga, 2004). The final question evaluates if the ethical dilemma violated universal principles then it would be unethical in both universalism and relativism.
2. Describe the four major world religions. What are the impacts of each religion type on an economic environment? What do you think makes religion a concern in societies?
Religion is described as a sociocultural system that defines the practices, behaviors, beliefs, morals, tests, worldviews, ethics, prophesies, or organizations that relate humankind to spiritual and supernatural elements. The four major world religions are Hinduism, Judaism, Christianity, and Islam. While these religions originated from different times in world history, they have gradually spread around the globe (Helbe, 2006). Religious beliefs influence trading behavior as those that share similar ideologies develop trust and reduce transactional costs. Hinduism religion is characterized by the caste system and the profession of its members defines each caste. Although Hindus welcome economic exchange, trading is reserved for a specific caste. Which undermines the trading performance of the nation. Judaism is one of the oldest religions, whose members engaged in trade and business (Helbe, 2006). Jews adhere to the Ten Commandments as a guide for conducting business in an orderly manner. Judaism religion provides a framework for economic exchange and incentive for building trade relations without discriminating. Christian economic ideologies recognize market systems and places certain constraints defined by ethical standards. Christians perceive trade as a necessity rather than a crucial contributor to economic wellbeing. Islam encourages trade-friendly ideologies that recognize trading as an activity that enhances the economic welfare of both parties.
3. What are the three major economic systems that nations utilize, and what is the role of each? How does each affect and influence individuals, multinational managers, and corporations?
The major economic systems utilized by nations are market economy, planned economy, and mixed economy. Each of the economic systems ensures allocation, production, and distribution of resources.
A market brings together sellers and buyers of goods and services and comprises businesses and individuals. Market economies are based on private enterprises owned by individuals as a means of production. The higher the demand for products and services the higher prices. Consumer demand highly depends on the income of the people while the income depends on the ownership of resources. Organizational managers and corporations that value the output of an individual often pay them well, hence enabling them to access more products and services in the market (Lumen, 2021). In planned economies, the ruling class and rulers dictate the economic goals. The government owns businesses and resources and dictates the production and pricing of goods and services. Moreover, the government dictates the method of production, and individuals, multinational managers, and corporations do not have any authority. A mixed economy allows private participation in production, which facilitates healthy competition that yields profits (Lumen, 2021). This further enhances public ownership especially in the manufacturing sector, which addresses the social welfare needs of individuals. Multinational managers and corporations highly benefit from the competitive mixed market, which maintains economic stability.
4. How would you define ethical convergence? What are the four basic reasons for ethical convergence? Which might be the most difficult for multinational companies to follow, and why?
Ethical convergence refers to the practices of ethical code systems in various nations that are socially and culturally different. There is increasing pressure on international companies to adhere to the uniform guiding sets when managing social and behavioral responsibility across the nations in which they operate. There are four reasons for ethical convergence. First, people from various cultural backgrounds enhance their exposure and interactions to different ethical traditions, which they adjust to, adopt, or imitate new attitudes and behaviors to facilitate acceptance of practices (Paik et al., 2019). Second, the growth of trading blocks in the international arena like the European Union and North American Free Trade Agreement (NAFTA) enhances common ethical practices across borders. Third, international businesses hire workers from diverse backgrounds and rely on corporate culture for values and norms that govern the ethical standards of employees. Finally, ethical convergence enhances the increase in the number of business watchdogs (Paik et al., 2019). The most difficult to follow is the aspect of watchdogs where organizations and businesses take the responsibility of compelling other companies to act legally while maintaining standards as it would result in conflicts in the market.
References
Helble, M. (2006). On the influence of world religions on international trade. 17.
Lumen (2021). Economic systems. https://courses.lumenlearning.com/wmopen-introductiontobusiness/chapter/economic-systems/
Tangwa G. B. (2004). Between universalism and relativism: a conceptual exploration of problems in formulating and applying international biomedical ethical guidelines. Journal of medical ethics, 30(1), 63–67. https://doi.org/10.1136/jme.2003.003194
