Political legal and ethical factors affecting business

Cooperation with Disciplinary Authorities. Giving Precedence to the Duties of Judicial Office. A judge shall uphold and apply the law, and shall perform all duties of judicial office fairly and impartially.

Political legal and ethical factors affecting business

However, when well done, HR management pays dividends. A seven-year study in Britain of over foreign companies showed that good HR management, as well as other factors, accounted for more of the variance in profitability and productivity than did technology, or research and development. Doing business globally requires that adaptations be made to reflect these factors.

It is crucial that such concerns be seen as interrelated by managers and professionals as they do business and establish operations globally. Each of those factors will be examined briefly. Legal and Political Factors The nature and stability of political systems vary from country to country.

Although presidents, prime ministers, premiers, governors, senators, and representatives may change, the legal systems are well-established, and global firms can depend on continuity and consistency.

However, in many other nations, the legal and political systems are turbulent. Some governments regularly are overthrown by military coups.

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In some parts of the world, one-party rule has led to pervasive corruption, while in others there are so many parties that governments change constantly. Also, legal systems vary in character and stability, with business contracts sometimes becoming unenforceable because of internal political factors.

International firms may have to decide strategically when to comply with certain laws and regulations and when to ignore them because of operational or political reasons.

Another issue involves ethics. Because of restrictions imposed on U.

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HR regulations and laws vary among countries in character and detail. In many Western European countries, laws on labor unions and employment make it difficult to reduce the number of workers because required payments to former employees can be very high, as the HR Perspective on the next page indicates.

Equal employment legislation exists to varying degrees. In some countries, laws address issues such as employment discrimination and sexual harassment. In others, because of religious or ethical differences, employment discrimination may be an accepted practice. All of these factors reveal that it is crucial for HR professionals to conduct a comprehensive review of the political environment and employment-related laws before beginning operations in a country.

The role and nature of labor unions should be a part of that review. Economic Factors Economic factors affect the other three factors in Figure.

Different countries have different economic systems. Some even still operate with a modified version of communism, which has essentially failed.

For example, in China communism is the official ec onomic approach. But as the government attempts to move to a more mixed model, it is using unemployment and layoffs to reduce government enterprises bloated with too many workers.

Many lesser-developed nations are receptive to foreign investment in order to create jobs for their growing populations. Global firms often obtain significantly cheaper labor rates in these countries than they do in Western Europe, Japan, and the United States.

However, whether firms can realize significant profits in developing nations may be determined by currency fluctuations and restrictions on transfer of earnings. Also, political instability can lead to situations in which t he assets of foreign firms are seized. In addition, nations with weak economies may not be able to invest in maintaining and upgrading the necessary elements of their infrastructures, such as roads, electric power, schools, and telecommunications.

The absence of good infrastructures may make it more difficult to convince managers from the United States or Japan to take assignments overseas. Economic conditions vary greatly.

Cost of living is a major economic consideration for global corporations. The survey ranked cities around the world in terms of costs of such things as housing, transportation and food. Moscow moved up three spots in the latest survey and surpassed perennial cost leader Tokyo.

Political legal and ethical factors affecting business

Nearly half of workers around the world would consider moving to another country for the right job, a pay rise and other incentives such as trips home and language training, according to a new survey released on Monday. With the global economy still struggling, employees in Mexico, Brazil, Russia, Turkey and India were most eager to grasp new opportunities, while workers in Sweden, the United States and Belgium preferred to stay closer to home, the Ipsos international poll showed.

Nearly 20 percent of people questioned said they would be very likely to work abroad for two to three years if they were given a 10 percent pay rise, and 30 percent said it was a possibility they would ponder.

At nearly 40 percent, higher pay was cited as the main incentive for workers to venture abroad, followed by better living conditions, a good career move, adventure and time for a change. A guarantee to resume their current job after two years away was another big incentive when considering a move.There is many similarities between ethical and legal factors affecting business.

Business ethics and ethical business practices. Business ethics deals with moral issues (beliefs, norms, values, etc.) found in the business. It should be noted that business ethics is a term with quite a multifaceted meaning. The Department of Economics and Business seeks to prepare students with the professional skills and academic breadth necessary for leadership and service in the dynamic world of business.

This handbook explores the different roles of ethics and compliance practitioners in promoting ethical conduct in organisations, and analyses benefits and drawbacks of the two approaches to understand whether it is more effective for organisations to have two separate functions dealing with ethics and compliance respectively.

The legal, ethical and political environments generally relate to your need to abide by business laws and to meet the ethical or social responsibility standards of your customers and communities.

1 Though not covered by this Code, there is a Code of Conduct for Employees of the Unified Judicial System (‘‘Employee Code’’). It applies to ‘‘employees’’ defined as, ‘‘Employees of the Unified Judicial System’’ and includes 1) all state-level court employees, and 2) all county-level court employees who are under the supervision and authority of the President Judge of.

Influences of Business Environment - The business environment is constantly changing as time goes by. There are several factors that affect the aspects of the business environment such as benefits, costs, and risks of conducting business.

Code of Judicial Conduct: Effective July 1, – Judicial Conduct Board of Pennsylvania