Professional Documents
Culture Documents
Size Matters
Due to globalization, organizations have now become interdependent and hence
accountable for the social, environmental, and political challenges that threaten to
affect our shared future.
There are about 80,000 multinational companies and ten times as many subsidiaries in
the world now. There are countless small and medium sized businesses. This makes
the businesses entities to have more responsibility for self-regulation to accompany the
process of globalization.
However, organizations face many challenges too. The ethical challenges for business
organizations include −
Labor Standards
Human Rights
Climate Change and
Marketplace Integrity
Insider Trading
Illegal Political Contributions
Environmental Violations
Health or Safety Violations
Improper Contracts
Contract Violations
Improper Use of Competitor’s Information
Anti-Competitive Practices
Sexual Harassment
Substance Abuse
Stealing
Can Organization Culture become a Bottleneck?
The New York Times published an article by Greg Smith, the former executive director and head of
the firm’s US equity derivatives business in Europe, the Middle East and Africa, on March 14, 2012
edition of the newspaper. Smith described Goldman Sachs’culture as ‘toxic and destructive’. He
said that he resigned because the firm had become a place where profit trumps all other
considerations; what was good for the firm and making money was of dominant value.