International Finance Assignment

International Finance

MNC’s operate in many different countries with many different cultural and ethical norms and environments. Relative to practices in the US should a US MNC relax its ethical standards in order to be more globally competitive?

Student 1: Multinational corporations (MNC’s) operate within different geographical locations all with different cultures and ethical practices. However, these differences do not warrant for a MNC to change or reduce its ethical standards just to remain competitive.

First of all, ethics are provide a ‘social contract’ between an organization and the public. This means that ethical practices represent the face of the company even in absence of the law. As such, it is important to maintain uniform ethical practices across countries even for MNCs. Moreover, varying ethical standards from one country to another for the sake of profits portrays an organization as one that does not mind the overall relationship with global customers and one can easily end its principles for selfish gains. This in turn paints the organization in bad light leading to loss of business.

Student 2: This topic has been an ethical dilemma for years and something companies battle with continuously.

On the one hand, it may be best to be globally competitive to pay lower wages and not follow the same safety standards as in the U.S. This is especially true when comparing wage differences in poorer countries. It can be argued that it’s not unethical to pay $1/day because it for standards in the country they are producing in, it may be considered a good wage. So, of course, comparing pay based on American standards would not work oversees. For example, I send my brother $100 which in turn comes out to 8000 Argentinian pesos which are actually a week’s wages for him. That breaks down to $2.50 an hour which is below our minimum wage and would cause a legal issue in our country if that were paid to someone working 40 hours.

On another note, there are a few standards that I believe should never be relaxed and those include safety issues, regardless of different standards. Things like factory worker safety and labor standards. We have regulations in this country that keep us safe from this type of abuse, a company should uphold the same standards no matter if they’re not forced to just to save money. Another example includes the  Consumer Product Safety Improvement Act (CPSIA) which regulates children’s clothes and toys for safety from lead, flame retardant, etc. Not only did companies need to get rid of lots of unsafe items, but they did so by selling it to 3rd world countries and/or countries without these safety standards. This is just something which is unacceptable no matter how much money will be saved because a child’s life is at stake.

Get Essay Writing Help with HelpHub

HelpHub
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose HelpHub

HelpHub

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

HelpHub

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

StudyAcer

Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

StudyAcer

On Time Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

StudyAcer

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

StudyAcer

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Help Hub

Place your order

Fill in the order form and provide all details of your assignment.

Help Hub

Proceed with the payment

Choose the payment system that suits you most.

Help Hub

Receive the final file

Once your paper is ready, we will email it to you.

HelpHub Writing Services

No need to work on essay at night. Sleep tight, we will cover your back. We offer all kinds of essay writing services.

HelpHub HelpHub

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

HelpHub HelpHub

Admissions

Admission Essays

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

HelpHub HelpHub

Editing

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

HelpHub HelpHub

Revision

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.