International Management Ethica and Values Essay

International Management Ethica and Values - Essay Example Ethics establishes have certain characteristics since it involves learning the right and wrong. Most ethical decisions have multiple alternatives unlike the legal decisions. Ethical decisions also have mixed outcomes unlike legal decisions that have certain outlines for disobedience. The consequences of the ethical decisions are uncertain unlike in legal decisions whereby the outcome of the legal decision making is known in advance. There are certain decisions that are both unethical but legal for instance betraying the trust of a friend is not illegal, but many people may consider it unethical. An example of decisions that are legal but unethical include a stockbroker recommending a buy option of a particular stock that he has adequate information that prices may likely go down in the future. Another legal but unethical decision is when a mechanic refuses to recommend installing an expensive machine even though he is aware the overall costs of production will decline. Examples of et hical but illegal decisions include writing a post-dated cheque after the client or customer agrees for delivery in next paycheck in the bank. Conflict of interest occurs when the individual has vested private interests whether in employment or discharging professional services. The self interest should appear to influence the objective discharge of the duties. The interest may be personal interest or financial interest. Conflict of interest occurs when there is a convergence between individual relationships and his professional or official responsibilities to the organization. Some areas of conflict of interest include accepting bribery, using the company’s property for self purposes and utilizing the employer’s confidential information for private purposes. In managing the conflict of interests, organizations should establish a code of conduct and policy that guides all employees in the