According to ongoing research by Berlin-based Transparency International, o corruption in business occurs in roughly 30% of business transactions across the world and the percentage has been steady for the past 5 years. o businesspeople are more corrupt on average than public officials. o corruption in business transactions is relatively low across the world but corruption among public officials in a majority of the world's countries is a serious problem. o corruption in business transactions is a problem in fewer than 15% of the countries of the world, but the percentage is increasing. o corruption among public officials and in business transactions is widespread across the world.According to integrative social contracts theory, o a company's first duty and responsibility is to be respectful of and responsive to the ethical standards and norms of the each of the countries in which it operates. o universal ethical principles or norms based on the collective views of multiple cultures and societies combine to form a "social contract" that is binding on all individuals, groups, organizations, and businesses; however, within the bounds defined by universal ethical principles, there is legitimate room (or "moral free space") for local cultures or groups to specify what other actions may or may not be ethically permissible. o the slippery slope of ethical universalism should be rejected and the principles of ethical relativism should be embraced. o each country's ethical norms and customs form a "social contract" that all individuals, groups, organizations, and businesses in that country have a duty to observe; this contract draws a clear and bright the line between actions and behaviors that are ethically permissible and those that are not and must be strictly observed in all circumstances in that particular country. o the Code of Expected Ethical Conduct developed by the United Nations represents a pragmatic and effective compromise of the best parts of the ethical standards advocated by the school of ethical universalism and the ethical standards advocated by the school of ethical relativism. Business ethics concerns o adhering to and enforcing the consensus ethical principles that companies worldwide have agreed are appropriate for all businesses and their personnel to observe. o the application of general ethical principles and standards to the actions and decisions of businesses and the conduct of their personnel. o the socially responsible actions and behaviors that a company and its personnel are expected to display in conducting business activities. o the special set of ethical standards and behaviors that are applicable only to business situations and the conduct of business-related matters. o a set of behavioral standards, usually established by governmental authorities or organizations such as the United Nations, that businesses worldwide are expected to observe in conducting their activities.
