Ethically Responsible Essay Example

Lastly, drug companies and dangerous industries also present their own unique challenges.

Although drug companies are subject to local laws, these laws may not provide adequate information or protection against intentional harm. Similarly, hazardous industries like asbestos may not need to comply with all OSHA regulations, but they cannot neglect protecting workers entirely due to moral obligations.

The ongoing protests by environmental activists against the exploitative actions of extractive industries like mining in third world countries indicate that MNCs are rightfully accused of exploitation, unless they can prove that they provide more benefits than harm to the host country. While other manufacturing industries may differ significantly, they have all faced persistent accusations of exploiting workers and eroding the culture of the host country as a whole.

Advocates for ethical considerations in international business have been increasing in recent years. They assert that small domestic companies encounter the challenges of global competition as corporations become more globally integrated and participate in cross-border transactions.

In South Africa, the government's apartheid policy and violation of human rights were not challenged. Instead, they were strengthened through the government's lending practices, although some banks did not subscribe to this policy of racial discrimination. This serves as a classic example. Drug companies operating in Third World countries also pose difficulties, including higher product prices and product waste disposal.

Environmental activists are demanding that multinational companies cease their exploitation of cheap labor and natural resources in other nations. The primary objective of businesses in every society is to generate and disseminate goods and services, ensuring that the benefits outweigh any costs incurred. The responsibility of companies to society is determined

by the requirements of the communities they operate within and influence.

The ethical implications of multinational companies and their effects on the countries they operate in are a subject of concern raised by Velasquez. It is debated whether these companies should be accountable for negative repercussions, or if the advantages outweigh the drawbacks. In situations where there is no governing body, such as numerous international transactions, Velasquez believes that moral obligations hold no significance and therefore don't exist.

Is it possible to assert that multinational corporations (MNCs) should prioritize the global common good despite objections from realists? It's important to consider that the personnel of MNCs are constantly changing, and therefore any enduring commitment to profitability in a competitive market does not necessarily indicate a lasting dedication to ethics, as explained by Velasquez.

Realists contend that multinational corporations are not obligated to contribute to the greater good, despite their responsibility to do so. As a result, in a competitive environment where there is no international authority enforcing protection against the harmful impacts of global climate change, MNCs cannot be compelled to support the global common good.

Although the Kyoto Protocol and Agenda 21 aimed to unify efforts, ethical responsibilities of transnational businesses in the countries they operate in were not adequately addressed. Multinational companies' extent of ethical responsibility towards the countries they conduct business may require a shift from rational profit-seeking to prioritizing humanitarian happiness, which includes showing respect for both fellow humans and the environment.