Global Codes of Conduct

A global code of conduct may be defined as a set of guidelines or principles for business practice that establish ethical standards for business and employee conduct, especially for those firms operating in the international business environment. Global codes of conduct have grown in importance with the rise of global business as a critical element in the world economy. This rise is one of the most significant developments in business in the past 50 years. This period has been characterized by the rapid growth of direct investment in foreign lands by the United States, western Europe, Japan, and increasingly other Asian countries. Global business has grown by leaps and bounds as technology, communications, and competitive forces have pressured firms to seek new markets.

In recent years, ...