Identify Ethical and Cultural Issues That Entrepreneurs Face When Creating a New Business in a Foreign Country

Topics: Business ethics, Ethics, Entrepreneurship Pages: 4 (1373 words) Published: July 21, 2013
IDENTIFY ETHICAL AND CULTURAL ISSUES THAT ENTREPRENEURS FACE WHEN CREATING A NEW BUSINESS IN A FOREIGN COUNTRY IDENTIFY ETHICAL AND CULTURAL ISSUES THAT ENTREPRENEURS FACE WHEN CREATING A NEW BUSINESS IN A FOREIGN COUNTRY

INTRODUCTION

This essay aims to identify ethical and cultural issues that entrepreneurs face when creating a new business in a foreign country. Hurn (2008, p.348) presents ethics as ‘the recognition of obligation and acceptance of responsibility for how one’s actions would impact on other people’… elaborating that it is ‘what is not morally acceptable within a particular … culture’. Business ethics can therefore be defined as ‘the application of … ethical considerations in a business setting’ (Hurn 2008, p.348). Geert Hofstede cited in Ogretir (2008, p.96) defines culture as ‘the collective programming of the human mind’ whereas Wood et al. (2006, p.326) elaborates that it is the religious beliefs, values, traditions, importance of the family structure, national identity and cohesion. Wood et al. (2006, p.326) and Hurn (2008, p.348) share a similar view that ethics within an organisational culture can be traced to the national culture and as a result, this distinguishes one society from another whilst it also mirrors particular characteristics and experiences unique to the business. Kuratko and Hodgetts cited by Makhbul (2011, p.116 ) describe an entrepreneur as a ‘creator of new venture who faces uncertainty in many ways’. This paper chooses to explore three key issues, namely ‘Corruption’, followed by ‘Gender Inequality’ and lastly ‘Staff Recruitment and Performance’. Each issue will be structured to firstly consider the cultural differences between countries. Sequentially, ethical dilemmas which arise in that new business will be discussed. This will then lead finally into suggestions for how these dilemmas can be resolved.

CORRUPTION

The conduct of daily business activity is affected when entrepreneurs choose to create a new...
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