The company is expected to conform to the set applicable rules, regulations and laws that affect its business or relevant matters relating to the conduct of business. Differences in custom or culture are not considered to be excuses for illegal endeavors. In case of doubt relating to the appropriate course of action or conflicts with foreign laws, the company is required to seek consultations with the Secretariat. Therefore, executives’ and employees’ actions and indulgences are expected to observe and comply with these regulations.
The company is to obtain relevant authorizations, licenses and permits that allow it to carry out various activities business related in the country. Acquisition of the permits or licenses is subject to fulfillment and compliance with certain appropriate equipment. Certain activities that require permits include business dinners, business meetings and appointments with state officials to discuss business. The permits help in the follow-ups in case of reported illegal business activities within the country (Dunning, 2014).
The company is expected to build business relationships based on mutual trust and integrity during negotiations. Its employees and top executives are expected to deal fairly with its investors, suppliers or customers while in the country. No employee should be manipulated, presented with misrepresented information or treated unfairly. Therefore, the company should endeavor to promote free completion within the market by observing integrity while conducting business (Kojima & Kyoshi. 2010).
In observing the country’s environmental policies, the company should commit to conducting its business in a manner that protects or preserves all the environmental resources available. The company should strive to achieve sustainable developments and reduce the environmental footprint in the country. It should update, review and set environmental goals that help to improve, routinely, its performance environmentally. (Domtar, 2015, p11)
In observing the country’s Work Safety and Health policies, the company should ensure that its employees work on safe equipment and acceptable working sites and conditions. In a bid to identify, prevent or eliminate injury risks and harmful conditions, the company should engage the employees to cultivate good work relations. Safety activities through close teamwork with the unions and management will ensure constant improvements in safety performances and contribute to safety conditions and good health for the employees.
Boatright, John Raymond. Ethics and the Conduct of Business. 4th ed. Upper Saddle River, N.J.: Prentice Hall, 2003. Print.
Dunning, John H. The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge, 2014.
Kojima, Kyoshi. Direct Foreign Investment: A Japanese Model of Multi-National Business Operations. Routledge, 2010.
Trevino, Linda K., and Katherine A. Nelson. Managing business ethics. John Wiley & Sons, 2010.
Wilson, Joan Hoff. American Business and Foreign Policy: 1920--1933. University Press of Kentucky, 2015.