Final answer:
Setting ethical standards for an international business involves creating policies for fair hiring, job clarity, equitable compensation, and inclusion. It also entails adapting to local cultures and laws, and maintaining relevancy in the face of technological advancements. Continuous feedback and alignment with global frameworks support the creation of a strong workplace culture.
Step-by-step explanation:
When a company expands internationally, it's crucial to align its ethical standards with the diverse cultural and legal environments it will encounter. Standards should cover selection and placement, ensuring fair hiring practices; job design, which includes clarity of roles and responsibilities; compensation and rewards, ensuring equity and competitiveness; and diversity management, promoting an inclusive workplace. The implementation of these standards requires understanding the local laws and cultural norms of each country to ensure appropriateness and effectiveness.To evaluate if these standards are universal, one should engage in thorough research including examining best practices, consulting with local experts, and benchmarking against international frameworks such as the United Nations Global Compact. Establishing ethical practices around emerging technologies can be especially challenging due to the fast pace of innovation and the complexity of predicting their social, economic, and environmental impacts. Such practices would need to be adaptable and reviewed regularly to stay relevant.Also important is fostering a strong workplace culture where employees are aware of their rights and responsibilities, workplace safety is prioritized, and where there is an ongoing conversation about work-life balance and career resilience. Encouraging continuous feedback across different country operations can ensure these standards align with employees' values and expectations.