Ethical Behavior and Its Importance in International Business

  1. 4.1 Learn the components of ethical behavior and their importance in international business.

Ethical behavior is essential for successful business in today’s global marketplace.1 Ethical behavior is about doing the right things for the company, the employees, the community, the government, and the natural environment. It requires companies to act in ways that stakeholders consider honest and fair.

Components of Ethical Behavior

Global business leaders define ethical behavior in terms of four key components:

  • Ethics

  • Corporate social responsibility

  • Sustainability

  • Corporate governance

Ethics are moral principles and values that govern the behavior of people, firms, and governments ...

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