Considering Values, Norms, and Ethical Standards

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January 6, 2022

A warm greeting to everyone. The night is silent and I am currently on my bed while listening to some relaxing song while my hands are busy typing down random words which suddenly turn to sentences and now, a paragraph.

I can't think of a unique topic for today so I have just chosen randomly and so for today's post, I prepared something about values, norms, and ethical standards. All which we have learned.

It is more on the academic side so the tone of the next paragraphs is really more serious as compared to these introductory remarks. Anyway, hope you will appreciate it.

Whether it is necessary to study the values and norms of other countries before entering International Business or not.

The importance of researching the values and norms of other countries prior to entering the international business world is just as important as the essence of establishing a business in the international market.

This is due to the fact that each country has its own culture. Understanding them would aid in the development of the best products while also ensuring that they do not have a negative impact on other people's belief systems.

Additionally, as your company grows and expands, you may find yourself promoting various services and products to customers. Yes, diversity can be beneficial to a company's success, but it is important to remember that cultural differences can have a significant impact on a company's success and even cause serious problems.

It is possible that it will interfere with productivity and that some conventions and ignorance about diverse beliefs and idiosyncrasies will be established, which may cause interference. These factors could have an impact on the products and services offered, or even worse, result in the loss of potential customers in other countries. As a result, it is extremely important to conduct thorough research on the subject.

Importance of establishing ethical standards in businesses.

The establishment of ethical standards for businesses, particularly on an international scale, is a reasonable requirement, as these standards serve to guide the values, practices, and judgments of a particular company and its employees.

The ethical standards I would set for myself as a businessman in an IBT would include integrity and transparency, which adhere to being sincere on equality and truthfulness, interpreting facts in their entirety, and demonstrating a responsible and commendable attitude.

Then there's dependability, which implies adhering to one's principles and following through on promises. As a result, I would also formulate loyalty, reverence, and empathy, which would help to subdue the influence of external opposing interests while also promoting the importance of kindness and achieving business objectives in order to provide the greatest benefit with the least amount of harm.

Maintaining one's reputation, being accountable, and providing excellent service are all things I would also consider. These would help to maintain and preserve a positive reputation that could help to create a motivating work environment, while also guiding the company toward making sound decisions that benefit everyone, such as providing exceptional products or services to the general public.

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These are actually very good ethical standards anyone should hold for themselves both in and out of a business setting

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