Moral principles and values that govern the behavior of people, firms, and governments, regarding right and worng
Ethics
The abuse of power to achieve illegitimate personal gain and is a major/severe concern in the global activities of a large proportion of MNEs
Corruption
Most common form of corruption
Bribery
Small payments intended to expedite decisions and transactions, or gain favors
Grease payments
The Pyramid of Ethical Behavior
Tip is corporate social responsibility
Middle is ethical behavior
Base is complying with laws and regulations
Refers to ideas or works created by individuals or firms and includes a variety of proprietary. They are the legal claim through which propriety assets are protected from unauthorized use by other parties, via trademarks, copyrights, and patients
Intellectual Property
Operating a business to meet or exceed the ethical, legal, commercial, and public expectations of customers, shareholders, employees, and communities.
Corporate Social Responsibility (CSR)
Meeting humanity's needs without harming future generations