Business ethics in latin america

How do business ethics differ among various countries? By Investopedia Updated September 6, — 7:

Business ethics in latin america

A new era for governance in Latin America By Andrea Bonime-Blanc on Sep 11, High-profile recent scandals affecting Latin America reflect a changing landscape for accountability in the region Dramatic opportunities for better business are developing in Latin America.

Accelerated by the eruption of the Petrobras and Fifa scandals of the past year, this trend towards greater accountability and transparency was already under way. And the trend is unlikely to be reversed. Much like the political turn towards democracy that took root in Latin America over the past two decades, a trend towards better governance, risk, and integrity management is also occurring, even if imperfectly and unevenly.

The movement is, arguably, inexorably in one direction, reflecting a global pattern linked to the rise of the age of hyper-transparency where everything is known and few can hide. The regional view must also acknowledge the more specific picture that exists within each country — historically, culturally, ethnically, linguistically, geographically, economically and politically.

Petrobras and Fifa — opportunity within chaos The two charts below tracking the reputation risk exposure of both Petrobras and Fifa underscore the importance of this issue to stakeholders — whether the public, the voter, the consumer, the employee or the prosecutor. As compared with its peers in the oil and gas sector today, which average an RRI of 30, it is evident how damaging the current corruption scandal is to Petrobras and its stakeholders.

While the Fifa scandal is not specifically Latin American, it is an unfolding global scandal with serious reverberations in Latin America given that the football World Cup took place in Brazil in and many national football bodies and government officials in the region are being dragged into investigations.


As compared with the sporting sector with an average RRI of 26, the negative reputational impact on Fifa is clear. Putting Petrobras and Fifa in context: Six are outlined below. The growth of the anti-corruption movement and related law enforcement: Over the past five years several countries in the region have adopted broader anti-corruption laws and, in some cases anti-money-laundering laws — Chile inColombia inPeru in and Argentina in The Brazilian prosecutors in charge of the case demonstrate an important trend: The impact of global corporate best practices: Many global companies are doing business in Latin America and as they become more established locally, their business practices and standards also become part of the local fabric as they bring with them their ethics, compliance, risk and corporate responsibility programmes to local operations, thereby directly or indirectly influencing local and regional competitors, third parties and supply chains.

This takes the shape, for example, of unique new forms of corporate training, adapting to local conditions and issues that may not have a parallel elsewhere.

Webcast | Managing Ethics and Compliance Challenges in Latin America – Ethisphere Events

For example, in the autumn ofEcopetrol led an initiative in Colombia to influence its entire supply chain to sign a commitment to anti-corruption practices. Growth of a profession — the ethics and compliance officer: These trends demonstrate a continuing interest and growth by local, national and international businesses in spreading and deepening the adoption of such programmes in the region.

Corporate responsibility and stakeholder awakening: The power of the global supply chain: As local and national businesses compete for global supply chain clients, they are being increasingly asked to live up to higher business practice standards — whether ISO, code of conduct or quality-related.

They need to elevate their standards or risk misrepresenting or defrauding their prospective clients. This is acting as a catalyst for change at the local, national and regional levels. Other catalysts and environmental factors There are a number of other important factors that will continue to play an important role in the development of governance, risk and integrity programmes in Latin American countries.

The third stand corresponds to a third sense of business ethics which refers to a movement within business or the movement to explicitly build ethics into the structures of corporations in the form of ethics codes, ethics officers, . The post discusses a body of work regarding business ethics in Latin America and compares it to teh ethical dilemma of sustainable development initiatives that are derived in crisis relief rather. Latin America Introduction Latin America is comprised of Central and South America. An important trade partner, United States trade with Latin America is approximately $ billion in .

The Rio Olympics, especially in light of the Fifa and Petrobras scandals The continuing development of human rights and indigenous rights issues in several countries Environmental health and safety developments especially in the context of the oil and gas business Political developments including upcoming elections in several countries and the continuing increase in public outrage against political corruption including in Brazil, Argentina, Guatemala, Honduras and Mexico.Business ethics is a relatively new topic of academic discussion in Latin America.

Corruption and impunity came to be serious moral diseases in the region, probably as a result of a long period of.

Business ethics in latin america

Ethics and compliance leaders from across Mexico and Latin America will come together for the Mexico City Ethics Summit. This program will provide an opportunity for participants to share thoughts and insights around the latest trends in ethics and compliance program development and strategy, as well as put a spotlight on the best .

Business ethics in latin america

Given China’s increasing business operations and growing investment in Latin America, corruption at home is likely to have a significant impact on societies at the receiving end of Chinese expansionism.

On the other hand, Latin American corporate training and development divisions suffer significant internal conflict when it comes time to provide more advanced business training.

The business ethics climate in Latin America Written by Florien H. International Business Semester Course: Business Ethics The business ethics climate in Latin America A problem for international companies, taking Peru as an example!

The business ethics climate in Latin America Written by Florien H. International Business Semester Course: Business Ethics The business ethics climate in Latin America A problem for international companies, taking Peru as an example!

Business Ethics in Latin America