Scandals Unscathed: Corporate Secrets Exposed

October 2023
London School of Economics (LSE)

Scandals Unscathed: Corporate Secrets Exposed

Introduction

Dive into the intriguing world of corporate mischief with the London School of Economics' eye-opening article, Why multinational firms sometimes get away with behaving irresponsibly. Ever wondered why companies caught in scandals like the Volkswagen emissions fiasco or the Rana Plaza collapse don't seem to suffer much? This piece explores the baffling resilience of corporate reputations and suggests that what happens abroad might just stay abroad, thanks to various biases. A must-read for anyone curious about the dark side of big business and the complex interplay of ethics, location, and reputation.

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Why It Matters

Discover how this topic shapes your world and future

Unraveling the Tangled Web of Corporate Behavior

Imagine a world where companies could do anything they wanted, anywhere, without facing consequences. Sounds unfair, right? This is where the topic of multinational firms behaving irresponsibly across the globe becomes a critical discussion. It's like having a superhero who decides to break the rules in another city because they think no one will recognize them there. But why should we care? Well, these actions impact real people's lives—like workers in far-off factories or the environment. Plus, it challenges our sense of justice and fairness, making us wonder if "out of sight" really means "out of mind." By delving into this topic, you're not just learning about global business ethics; you're exploring how decisions made thousands of miles away can ripple through the world, including your own backyard. It's about connecting the dots between what we buy, who makes it, and the planet we all share. Fascinating, isn't it?

Speak like a Scholar

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Corporate Social Responsibility (CSR)

When companies make an effort to behave ethically and contribute positively to society, the environment, and the economy.

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Multinational Enterprises (MNEs)

Big companies that operate in several countries around the world. Think of them as global giants with homes in many places.

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Reputational Risk

The danger of losing a good name. For companies, it's like the risk of everyone finding out they broke a promise or did something wrong.

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Ethnocentric Bias

The tendency to view the world from the perspective of one's own culture, and to favor people or products from one's own country.

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Corporate Social Irresponsibility (CSI)

This is when companies don't care about the ethical side of business and make decisions that can harm people, the environment, or society.

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Institutional Norms

The unwritten rules that everyone in a certain place agrees on about how things should be done. It's like an invisible guidebook for behavior.

Independent Research Ideas

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The Role of Social Media in Exposing and Combating Corporate Social Irresponsibility

Investigate how platforms like Twitter and Instagram can shine a light on unethical business practices and mobilize global communities for change.

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Cultural Differences in Perceptions of CSR

Explore how different cultures around the world view corporate responsibility and what practices are considered ethical or unethical.

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The Impact of Consumer Boycotts on Multinational Corporations

Dive into case studies where public boycotts have forced big companies to change their ways. What works and what doesn't?

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The Psychology Behind Ethnocentric Bias in Global Business Ethics

Why do people care more about wrongdoing in their own backyard than across the globe? This topic invites you to explore the human mind and societal norms.

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Sustainable Supply Chains in the Fashion Industry

Focus on how clothing giants can ensure ethical practices from the drawing board to the retail store, highlighting challenges and solutions in making fashion sustainable.