Global Finance Issues Term Paper

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Multinational Corporation (MNC) and Ethical Standards

Multinational Corporations (MNCs) have usually faced several challenges with regards to developing standards that deal with issues associated with corporate social responsibility. These corporations are forced to embrace more specific ethical codes in their corporate strategy because of the materialization and growth of a global economy. In the recent past, multinational corporations have started rethinking strategies that may be regarded unethical based on international standards (Manakkalathil & Rudolf, 1995). As a result, some people have argued that the corporations should lessen their ethical standards to compete globally. In contrast, others have stated that a multinational corporation to should retain its ethical standards to develop more credibility throughout the world.

Proponents of this statement argue that an MNC should lessen its ethical standards because it may encounter some business laws that are not permitted in some countries. For instance, a company operating in the United States can sometimes provide payoffs like expensive golf outing to government officials in charge of decision-making.

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This may not be acceptable when competing for a government contract in another country or may be forced to match the payoffs offered by its rivals. In contrast, opponents argue that these corporations should maintain an ethical code of standards that is applicable to any country, which enhances the global credibility of the organization.

Even though it is easy to propose that an MNC should maintain a standard code of ethics that is applicable globally, it would be difficult for the corporation to compete in certain cases. Nonetheless, an MNC should not lessen its ethical standards to compete globally because it is a global citizen. As a good global corporate citizen, an MNC should not lessen its ethical standards and express them as its corporate philosophy in any country.

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