Corporate Compliance and Ethics
Short Description: Today’s economy is a global one, and many businesses are adapting to work within an international climate. Some businesses are only involving themselves in the domestic economy, but all businesses have legal, social, and ethical responsibilities.
All businesses are subject to the laws of the countries in which they operate. Laws may be similar throughout the United States, but laws of foreign nations may be different. Businesses are responsible for becoming familiar with the laws of their nation and other nations with whom they will interact.
Ethics is a code of behavior. A code of business ethics is a code that businesses follow in the way they conduct business in a specific country. Codes of ethics can vary between nations. In one country, it may be permissible to give “gifts” to the people with whom you want to conduct business. However, when this practice is considered permissible, businesses must understand when the practice of “gift giving” goes beyond what is ethical and becomes unethical. Ethical standards are not necessarily part of the legal framework of a nation. Conflicts can arise when a practice that is considered ethical in one country is considered unethical in the country that is the domicile of the corporation.
Social responsibility addresses issues different from ethical issues. Social responsibility is an obligation on the part of a company to act in a way that does not harm others. Social responsibility may be addressed when child labor is being used to manufacture products and when environmentally questionable practices are employed.
The law, ethics, and social responsibility are interrelated in today’s business environment.
Instructor Description: This class is an independent-study course. Students will have all the resources needed to successfully complete the course within the online material. A student helpdesk is available for technical support during the course enrollment.