Question 1: Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?

Question 1: Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible? Ethical standards are essential in regulating conduct and behavior especially in a setup engaging different persons. Such standards include honesty, fairness, and responsibility. However, they are subject to disparate interpretation based on each individual’s values. Particularly on a business point of view, it is quite impractical to formulate universal ethical standards for every business to follow and act upon globally. This is because people have their own cultural identity and what may be termed acceptable by one society is wrong to another. The western culture for instance does not resemble the Arab one likewise the Russian culture to the United States. Hereby ethnical and political cultures toe the line world’s cultures hindering common ethical standards. Ethnicity is a considerable ethical standards factor of disparity for businesses. The surrounding community in which a business operates affects its values. According to the National Institutes of Health (2015), “there are six ethnic categories constituting the American Indian or Alaska Native, Asian, Black or African American, Hispanic or Latino, Native Hawaiian or other Pacific Islander and the whites”. This classification bases on a people’s origin, tribal affiliation, and communal attachment. The people of North and South America in this case categorize as American Native and the same transpires in the other ethnic groups. In these groups the language spoken is different same to religion and race. A business operating in the Asian will therefore have to maintain its relation with the Asian people making them key stakeholders for the business. Hinduism and Islam are the most common religion in this region and each dictates its own moral values. Question 2: Do corporations have a right and/or a responsibility to influence ethics in the countries in which they operate? Defend your position. Ethics are an essential aspect of our lives owing to the disparate nature of us human being thoughtfully and in our ways of doing things. For corporations ethics is key in maintaining productivity internally through employees and externally in developing good relations with society. Lack of understanding and uniform values among employees would disrupt production substantially. Similarly, bad relations with society affect reputation and market consumption. Therefore, corporations have the responsibility to develop and uphold the right ethics favoring the business as well as in unison with the communal cultures in countries they operate.