Addressing International Legal & Ethics Issues Simulaiton

Business Law

Addressing International Legal and Ethical Issues

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Executive Summary

All business organizations are subject to laws of the government of the country wherein they have operations . Aside from making sure that they make profits , business owners need to also be aware of their social responsibility towards their buying public , abide by the laws the government has set , and uphold moral standards that are valued in places that they do business in . Moreover , they have the obligation to be proper and

ethical in the way they handle business affairs (Cheeseman 2007

Ethical standards differ from one place to another . Government laws range from business contracts to employee rights , among other important issues . These standards are dependent on the culture and traditions of a place . When doing business in a foreign country , businessmen ought to be aware of what is considered proper business conduct to avoid offending the foreign business partner . There are a lot of issues to consider . These issues include changes in laws , impact to the environment among others . This way , transactions are conducted smoothly and a good working relationship is developed (Cheeseman , 2007

With the advent of information technology , the way people perform many things have changed . This includes the way people do business . The convenience and the speed that information technology tools , such as the internet and software applications , offer have made them the new tools of choice for the businessmen of today . These technological implements however , are not without their disadvantages . With all of the perks also come drawbacks that include better chances that corrupt practices are perpetrated through the use of the internet , among others (Cheeseman 2007

Practicing good business ethics and social responsibility is also one way by which businesses will be able to maximize their earning capacity Without the public 's support for their products , businesses will not be able to thrive . As a result , business organizations need to give back to the public by doing their share in upholding moral and social responsibility . Business organizations can do this by making sure that their products and services are in no way doing any harm to anybody in society . They can also allot a certain portion of their funds to finance efforts to help conserve energy , keep the environment clean and support other similar efforts

Gentura and Cad Mex Pharma

Cad Mex Pharma is US-based pharmaceutical company which deals mainly with research and development of drugs . Cad Mex is currently considering a partnership with Gentura , a biotechnology company from Candore , which is a small developing country that has very promising growth potential . With limited resources to manufacture drugs on a global scale , Gentura sought the help of Cad Mex Pharma . Negotiations are currently underway to establish a partnership between the two companies . Cad Mex Pharma intends to accredit Gentura to use their manufacturing techniques in mass producing innovative drugs (University of Phoenix , 2004

As a dictatorship , Candore 's political landscape tends to make foreign investors feel a bit...