globalEDGE Blog - By Tag: business ethics

While cultural intelligence has been a notable skill in today’s diverse business world, emotional intelligence is a new buzzword, making its mark. Emotional intelligence is about understanding and managing our emotions and those of others. This shift has occurred, as emotional intelligence is more crucial in the business world than ever, especially with the rise of artificial intelligence.

Intense labor movements have been making global headlines recently; you might be aware of the strikes in Hollywood and the film industry, but let’s shift gears to the Three Giants and United Auto Workers (UAW). UAW has taken a bold stand against automotive giants - General Motors, Stellantis, and Ford. Select plants of these powerhouse companies are facing targeted strikes, all unfolding after the union’s contracts expired two weeks ago.

Animal rights have been a topic of discussion for a substantial amount of time. The debate as to what rights animals truly have has been an essential issue for many animal rights organizations. One notable organization that has been at the forefront of these issues is PETA. Its main goal is to stop animal suffering as a whole.

Retirement savings are crucial for individuals who want to live a comfortable life during their golden years. However, not all Americans have equal opportunities to save for retirement, and there is a significant racial retirement savings gap that affects many communities of color. In this blog, we will explore the causes and consequences of the racial retirement savings gap and discuss a possible solution with state IRA programs.

A mega-city featuring flying cars, high-speed rail instead of roads, robot maids, a giant artificial moon, and a resort with multimillion-dollar palaces is the vision of the Saudi Arabian crown prince and prime minister, Muhammed Bin Salman (MBS). The project, called Neom, hopes to gain $500 billion in investment with the ambitious goal of constructing a 106-mile-long carbon-neutral city with walls over 1,600 feet stretching from the Red Sea into the desert. Neom was announced back in 2017 and was originally planned to be completed by 2025, but due to the pandemic, only the first phase of the project is projected to be completed by this time. If this sounds unrealistic, MBS himself has admitted that he would be satisfied if only half of his ambitious Neom plan is completed. Half of all planned construction is an optimistic estimate as Neom has stalled due to numerous challenges. The kingdom’s sovereign-wealth fund and finance ministry have already spent $1 billion on initial infrastructure, planning, and consulting.  The country has contracted U.S.-based consulting firms from Boston Consulting Group, McKinsey & Co., and Oliver Wyman to aid with planning the project.

Soccer, most commonly known as football worldwide, has an immense amount of popularity and support from individuals of all ages. It is universally known to bring others together to provide a positive and enjoyable experience. Lately, this has not been the case.

Facial recognition is becoming more and more common throughout several different industries. Whether it is companies using it for marketing, law enforcement using it to identify suspects, or tech companies to unlock devices easily, facial recognition is seen almost everywhere in our lives. Companies like Apple, Lowe’s, Albertsons, Macy’s, and Ace Hardware already use the technology, while places like Walgreens, McDonald’s, 7-Eleven, Best Buy, Kohl’s, Starbucks, and Ross are just a few among the ones that might use it in the future. It is not only seen in a variety of companies, but The Interpol Face Recognition System (IFRS) also has a database that spans more than 179 countries. The big question remains: should facial recognition be implemented in a war zone?

The workers’ world has changed over the last year. From a transition to either remote work throughout the COVID-19 pandemic, they have to go into your essential work to keep the world running during it or find a new place within the world of businesses. No matter what, the world has shifted just a bit - and these workers have noticed.

The rise of the East and the decline of the West have become a common theme among Chinese government officials. Chinese President Xi Jinping and Russian President Vladimir Putin are plotting the next Cold War. China and Russia’s relationship grew closer over the mutual interest to dismount the United States' dominance. With the United States occupied with COVID-19 and pulling troops out of Afghanistan in disarray, Russia and China see an opportunity to invade the nearby countries Ukraine and Taiwan. Both countries have been targets for China and Russia for decades. As Ukraine struggles to join NATO it will be a tough battle for them to compete with Russia. Also, China is being projected to become the world’s largest economy and building the world’s largest army they will be a force to be reckoned with.

In business, sustainability is defined as the practice of operating a business without impacting the environment negatively. Sustainable businesses operate with the interests of local and global environments in mind and consider the impact on society and the environment. The focuses of these businesses are profits, people, and the planet. Keeping these three themes in mind, businesses are able to adopt and modify business models and plans in order to fully create a meaningful sustainability program and strategy.

The usage of ethically made materials has been one of the biggest issues in the fashion industry. In particular, fast fashion brands such as H&M, Zara, Shein, and Romwe have been targets to move towards sustainable fashion and more ethical consumption. The newest issue on this front is dealing with the accusations that recently surfaced regarding the H&M Group profiting off of forced labor of the Uyghur people in the Chinese territory of Xinjiang.

The issue of data collection is once again being posed, however this time it involves a very well-known gambling app company in Britain, Sky Bet. After fighting his gambling addiction, a man in Britain decided to pull a request for the private data that Sky Bet collected about him, revealing multiple personal information files including his banking records, mortgage details, location coordinates, and a full portrait of his different gambling habits. After he quit gambling, Sky Bet used the personal data they had of him to label him as a “win back” customer, creating targeted ads that have led to yet another controversy surrounding data collection and usage.

As technology advances, scientists and environmentalists are testing new ways to further the recycling efforts for our planet. Plastics are a long-debated problem that often ends up in landfills where it will never decompose, so what if we could find a way to take that durability and use it to our advantage?

Notable strikes throughout the world are making significant changes and bringing awareness to market and business faults throughout different countries. This blog discusses the Indian Farmer strikes, the Alabama Amazon strikes, and the South Korea Courier strikes.

As a new generation of women is graduating from colleges, universities, and trade schools around the world, they still face an issue a very present issue that has plagued generations of working women for decades: the gender pay gap. The general consensus is that globally, men tend to earn more than women. This is despite the greater number of women with higher education levels, more women breaking barriers and entering industries that are male-dominated, and a push by all women for higher pay. This blog will dive into why there is a gender pay gap and why it is persistent worldwide.

Amidst legislative restructurings revolving around Brexit, the U.K. is planning to introduce an innovative tax on large technology firms that hasn’t been done anywhere in the world. Some are considering this tax to be a raid on America tech giants. The tax applies to companies operating certain business models such as search engines, social media platforms, or online marketplaces. Specifically, U.S. tech giants such as Google, Facebook, and Amazon appear to be targeted.

At the heels of the United Nation’s groundbreaking report detailing the necessity for “unprecedented changes in the next decade” to avoid permanent damage to the Earth’s environment, sustainability and waste management in the business world, and beyond, have become essential factors of commerce across the globe.  The concept of creating products and services that are sustainable in the long-run is integrating itself as a key driver of companies’ operations and value chains, and innovation is necessary to achieve substantial results.  While efforts to keep our planet living intensify, so too will the call for businesses to operate environmentally safe processes.

To a large group of the world population, luxury brand goods sit on a mythical alter—their rarity, expensive price point, and high demand make them difficult products to obtain.  From items like watches and handbags to clothing and shoes, these retail brands carry the ‘best of the best’ merchandise and make it a point to tell consumers.  Recent news from the United Kingdom-based company, Burberry, shows the lengths that luxury brands go to in order to preserve their pristine, high-status image, and whether or not they are worth it.

Popularized by recent ride- and accommodation-sharing platforms, the sharing economy has experienced significant growth and demonstrated its potential for international scalability. The implications of this new economy are predicted to disrupt a variety of business models and industries, ultimately challenging the way we define consumption. Topics to consider include factors driving growth, potential industry risks, and future trends set to affect the way consumers capture value.

The Fifth International Women’s Coffee Alliance (IWCA) Convention will take place Thursday, August 3rd through Saturday, August 5th, in Puebla, Mexico, along with the Latin American Coffee Summit. The mission of IWCA, which has 21 chapters around the world, is to empower women in the coffee industry who “face additional challenges due to gender inequality that often manifests itself into being excluded from training, education, and financing opportunities.” IWCA hosts events like the convention not only as a method to fund the non-profit organization, but also as an opportunity for women in the industry to network with each other, share their experiences, and gain valuable knowledge and skills.

It is not a coincidence that there is a positive trend between companies that do good in their community and company success. With this generation of consumers and employees placing more importance on community consciousness than ever before, it makes sense that the companies that are giving back are the ones attracting the most business.

The recent Takata airbag recall is the largest in United States history with over sixty million recalls. This recall affects numerous car companies, including Toyota, Tesla, BMW, Ford, and Honda, among others. Cars manufactured within the last fifteen years are at risk, therefore, approximately one in five cars on the road today are affected by the recall. With demand for new airbags skyrocketing and supply devastatingly low, drivers are left wondering what to do next.

Three years ago, popular global brands such as H&M, Walmart, and Gap pledged to improve safety conditions in factories overseas following a multitude of deaths due to poor labor conditions. Despite the time frame, many human rights groups believe that these promises have not been kept, and more progress is needed. Safety in working environments in Bangladesh remains poor, while global retailers continue to reap the benefits of a less expensive work force.

An important economic issue that is affecting several countries is the rising number of shadow businesses: businesses unregistered with their country's government. These businesses exchange goods and services, both legal and illegal, without paying taxes to their government. Typical examples of these include small taxicab services, roadside food stalls, and drug dealing. These businesses are causing concern because of their increasing prevalence in developing countries, which many worry is crippling economic growth and development. Other countries with smaller numbers shadow businesses are looking for ways to try and incorporate the operations of these businesses into their national economies. Here is a closer look.

Is it wrong to pay children for getting good grades? Should there be a market for jumping the queue and cutting in line? Is it ethical to buy and sell human organs? It is quite apparent that in today’s society there are markets for many goods and services that have not historically been for sale, such as the right to pollute the atmosphere, auctioning citizenship and many other topics. Michael Sandel attempts to answer one of the biggest ethical questions of our time in What Money Can’t Buy: is there something wrong with a world in which everything is for sale?

So far in this blog series, the reader has heard about how Big Data is the future of international business and all of the positives that are associated with it. While there are many positives for using Big Data, there are also many negatives. Further, those negatives may expand beyond just international business and into society as we know it.

According to Merriam Webster's Dictionary, ethics is the principles of conduct governing an individual or a group. This is an interpretive definition; it changes depending on culture, and that is why teaching ethics for a globalizing economy is rather difficult for current business schools.

We are all aware that online retailers monitor our every click, but you might be surprised that brick-and-mortar stores are beginning to use a similar approach to maximize sales. Some may think that being monitored while shopping is a little invasive, but big brother is definitely watching. E-retailers are able to monitor the pattern of clicks and place similar items on the same web pages to maximize purchases. Now, there are a few new methods that brick-and-mortar retailers are using to produce similar results.

Technological innovation has helped countries grow and has aided businesses in generating profits for many years. However, in India recently, technology has even found a way to help feed India’s poorest. In the country of India, those living below the poverty line are allowed to buy basic food such as rice, sugar, and wheat at highly subsidized rates at government-run Fair Price shops. The shoppers at these stores have a plastic card with their photograph on the face of the card. After purchasing food, shoppers scan their smart cards and then the shop owner asks for something else—their fingerprints.

You finally landed a job in these tough economic times and now you are learning your new role, meeting new people, getting used to environment and trying not to get lost on your way to the copy room. The last thing on your mind is the fact that in today's world anyone can be held accountable if there is a corporate scandal. Therefore, it is crucial that you familiarize yourself with your company's expectations, policies, and regulations. Whether working at your home country or in a foreign place, knowing the particular ethics code of the company can save your job.