Benefits of Managing Ethics in the Workplace, heading 1

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Corporate Social Responsibility

Benefits of Managing Ethics in the Workplace

  • Attention to business ethics has substantially improved society.
  • Ethics programs help avoid criminal acts “of omission” and can lower fines.
  • Ethics programs cultivate strong teamwork and productivity.

Ethics programs promote a strong public image.

Globalization

“Processes by which goods, services, capital, people, information, and ideas flow across national borders.”

Globalization also should be a process with integrates world economics, technology and governance, it is also involves the transfer of information, skilled employee mobility, the exchange of technology, financial funds flow and geographic arbitrage between developed countries and developing countries.

Competition

The activity or condition of striving to gain or win something by defeating or establishing superiority over others.

Globalization leads to increased completion, Competition can be related to product and service cost and price, target market, technical adaption, quick response and quick production by companies etc.

Exchange of Technology

One of the most striking manifestation of globalization is the use of new technologies by international oriented firms to exploit new business opportunities.

  • Technology is one of the main tool of the competition and the quality of goods and services.
  • The companies has to used latest technology for increasing their sales and product quality.
  • Globalization has increased the speed of technology transfer and technological improvement.
Knowledge/Information Transfer

“Facts provided or learned about something or someone”

Information can be easily transferred and exchanged from one country to another, if a company have a chance to use knowledge and information then it means that it can adapted to this global changing .

The rapid changing of the market requires also quick transfer of knowledge and efficient using of that knowledge and information.

Portfolio investment (Financial fund flow)

Globalization encourages increased international portfolio investment. Additionally, financial markets have become increasingly open to international capital flows.

A portfolio investment is an investment made by an investor who is not involved in the management of a company. This is in contrast to direct investment, which allows an investor to exercise a certain degree of managerial control over a company.

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