Can Ethics help you select the right partner in international business?
A prerequisite in international business in a majority of cases, is trust
Ethics prescribe ways for honest and fair business behavior no matter what: Thus they help make less consequential, things like geographic distance, different foreign justice systems or any power relationship between the parties involved
Trust is therefore increased if and when you know that your partner or agent holds his/her company to high ethical standards of behavior and actions.
Would it therefore be advisable to ask before making a choice of your partner/agent that his/her company’s credentials include their endorsement of a code of ethics or conduct?
Would that be enough or will you think it necessary to ask for more to ensure that you will select the right partner in your international business?
My opinion is that you should seek to find out more:
A code of ethics is a start
Whether the company code is a living document or a dead one forgotten in closed drawers, is second and
Proof of the practice of the code in terms of metrics like company turnover rates, social contributions and customer reviews could lend a big hand to the verification process.
Watch for my next discussion topic on CSR (Corporate Social Responsibility)