Abstract: Following the implementation of globalization and liberalization policies, the phenomenon of business ethics in a globalized business environment has emerged as a critical issue, attracting business and management research scholars to participate in critical debates and discussions at both the local and international levels. This is because, as a result of globalization policy, business risks, changing demographics, and a push for diversity have resulted in corporate business cultures that are less homogeneous and more competitive. This study finds its significance in the day-to-day infractions of business ethics in today's globalized corporate climate and believes that commercial organizations must accept responsibility for these violations or omit at their peril. The business malpractices that we continue to see are centered on the self-indulgent, introspective, and myopic perspectives of business organizations that are unable to transform their thoughts in order to consider all possible perceptions and ramifications of their actions. Despite the different aims of relativism, imperialism, and universalism as philosophies aimed at finding global solutions to ethical quandaries, we maintain that they are far from the solution. The phenomenon that, unlike established laws whose infraction is directly penalized in a court of law, business ethics is self-regulatory is a barrier to global corporate ethics. What remains challenging is determining what is and is not ethical. Though an alternate technique—the relational approach—is proposed in this article, we accept it as a traditional strategy with some support from the present body of literature.
Keywords: Ethical Dilemmas, Relativism, Imperialism, Universalism, Relationship Approach, Globalization Policy.
Title: Global Business Environment: Reconsidering Ethical Issues
Author: Ven. Rex Ufomba., Francis Akubuilo
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
Vol. 10, Issue 2, April 2022 - June 2022
Page No: 514-525
Research Publish Journals
Website: www.researchpublish.com
Published Date: 21-June-2022
