Final answer:
Ethics in a global perspective addresses the moral responsibilities of multinational corporations towards employees, society, and the environment, often affected by ethical relativism. Corporate governance, facilitated by initiatives like the United Nations Global Compact, promotes adherence to human rights, environmental care, and anti-corruption practices. The concept of corporate social responsibility in different countries tries to balance individual rights with community needs.
Step-by-step explanation:
Understanding Ethics and Corporate Governance
The concept of ethics in a global perspective often deals with the moral obligations that multinational corporations (MNCs) have toward their employees, society, and the environment. As MNCs operate in diverse cultures, they encounter descriptive ethical relativism, where ethical norms vary significantly across different societies, influencing what is considered moral or immoral based on local customs and laws.
In the realm of corporate governance, the United Nations Global Compact exemplifies efforts to promote responsible business practices. This initiative encourages companies to adhere to principles focused on human rights, environmental stewardship, and anti-corruption. Participating companies, numbering almost 15,000, pledge to self-regulate and support sustainable development goals.
Globalization significantly affects workers worldwide, often leading to discussions about the roles MNCs play in politics, the welfare of workers, and environmental impacts, particularly in developing nations. The challenge for corporations is to balance their pursuit for profits with their social, economic, and environmental responsibilities. Establishing ethical practices becomes even more complex with the introduction of emerging technologies, which often give rise to novel ethical dilemmas.
Corporate Strategies and Social Responsibility
Different countries adopt varying strategies to address the needs of diverse groups. In the United States, for instance, there has been a move towards corporate social responsibility (CSR), where corporations take on the banner of advocating for social issues in alignment with civil liberties and the need to balance individual freedoms with the community's needs.