The owners of XYZ Construction Inc. see a market potential to expand their operations into Asia. The owners believe that expansion into global markets may improve their IPO in 12 months because the company would have increased market diversity. They would like specific information from you regarding any potential issues or considerations relative to expanding from an exclusive domestic market into a global market with their horizontal construction operation.
For this second assignment, your requirement is to research and write in APA format a paper that describes and analyzes:
1. Ethical and social issues within the global market of Asia.
2. Cultural diversity considerations for the company relative to establishing field offices in Asia.
Business Ethics and the Global Dimensions of Business
The purpose of this research is to impart a scholastic opinion to the XYZ Construction Inc. on the topics of the ethical and social issues within the global market of Asia, and the cultural diversity considerations for the company relative to establishing field offices in Asia. Before instituting the research paper, it is, in the first place, necessary to discern the definitions of business ethics, social issues, and cultural diversity. Ethics is a set of principles dealing with what is good and bad and also with moral duty and obligation (Merriam-Webster’s collegiate dictionary, 2003). Business ethics is the contemplation of appropriate business policies and procedures that are generally governed by laws and businesses ought to espouse it in order to effectuate communal acceptance (Investopedia, 2012). Social issues are the ones inherent to the people living in that specific locality, e.g. child labor practices, health and safety standards at workplaces, etc. (Anonymous, 2010). Cultural diversity is the cultural conglomeration and cultural idiosyncrasies that prevail in the world, in a community, or in an organization (Business dictionary, 2012).
Corporate social responsibility and mannerism in which organizations carry out their ethical and social engagements are of pivotal importance involving all businesses, primarily international businesses in today’s global business territories. As business activities have become voluminous in both scope and economic imperia, it calls for extrinsic surveillance into t