Ill ATT 213 PM 85 Unit 3 Unit 3 Writing Assignment 2 Detail

Ill AT&T; 2:13 PM 85%- Unit 3 Unit 3 Writing Assignment 2 Detail Submission Grade Unit 3 Writing Assignment 2 Due: Jan 29, 2018 at 6:00 PM Prompt: As stated in the readings and the lectures, international business presents challenges in the area of ethics, and the employment issues are often the most challenging. Would you be willing to support a universal code of employment ethics which would also include standardized minimum wages throughout the world? Exploitation. Many say that low wages in emerging economies amount to exploitation. Would you be willing to support a universal code of employment ethics which would also include standardized minimum wages throughout the world? Defend your position.

Solution

Minimum wages refers to wages that a country set considering the minimum living standards, currency rates, inflation and cost of living in a areas, It can vary even within a state or country depending upon the cost of living. For example, wages is rural areas remains low in comparison to that of wages in cities.

            In emerging economies the cost of living and the standard of living is low. This causes lower wages and labor cost in comparison to countries like USA where the poverty line for a family of 4 is $1900 per month. This is even higher than what a average person earns in a year in most of the poor and underdeveloped economies.

            Standardizing the wages will only hurt the organizations and global trade considering the fact that companies going oversees spend millions on training and other facilities to make the labor meet the standard and learn the processes.

            Ethics demand that the conduct of the company should be fair and transparent. This means they should pay the at least the wages decided by the country’s law and regulations. Paying these wages ensures the utility for the labor as well as for customers who get the product at low cost.