Blog Post #1: Business Ethics
A general consensus about what is “business ethics” can be defined as to how a company manages its daily operations and its stakeholders’ interests. In many countries, the government plays a large role in these said operations through the use of regulations, laws, and policies. Recently, as according to an article by The Vancouver Sun posted on September 11, 2013, China has relaxed its markets to allow for an increase in private competition and foreign investment. This move by the government can possibly lead to both positive and negative business ethics, depending on the view of stakeholders, in particular, the employees and the consumers. On one hand, by allowing for more competition among businesses, the consumers are allowed to have a greater range of prices and goods to choose from. Eventually, this will lead to an overall higher standard of living in China.This serves as a positive factor for the general public, as the businesses will have to provide enough incentive for people to purchase their goods and services. However, workers may possibly face a decrease in job security due to how the Chinese government will have a looser grip on business regulations, which allows for private businesses to stray away from the communistic goals of providing enough work for all able workers set by the Chinese government. In general, the government plays a large part in how businesses perform and its conduct either directly or indirectly through government-laid regulations.
