There are macro and micro-economic factors that could directly or indirectly influence your business operations.

There are macro and micro-economic factors that could directly or indirectly influence your business operations. The social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with scarcity, the incentives that influence those choices, and the arrangements that coordinate them is called economics. (Edition 931) The economic subject matter is broad and can be very complex; nevertheless there are major questions that economist must consider when that wanting to provide clarity for defining the economic scope of a business organization. Fundamentally, there are two major questions and are listed below:  How do choices end up determining what, how, and for whom goods and services get produced?  When do choices made in the pursuit of self-interest also promote the social interest? “Micro-ethical questions arise primarily for subordinates in an organization and concern what should be done when the demands of conscience conflict with perceived occupational requirements.” (Brummer, J. 81-91) “Macro-ethical questions arise principally for superiors and concern the setting of policy for the organization in general.” (Brummer, J. 81-91) International ethical quandaries are a significant challenge to those businesses that opt to engage in globalized business operations. Although, the law may vary from country to country, it is one of the most important aspects of globalized business. Needless to say, although however, is that traditional cross-cultural ethics are superseding major factor that tends to plunder. The application of a moral code of conduct to the strategic and operational management of a business is called business ethics. Even though ethics can be debatable, there have been many years spent in corporate governance trying to determine or define these business related ethics or codes of conduct. Nevertheless, there are three major levels of business ethics. To classify these elements they have been categorized into the following categories:  the macro level  the corporate level  the individual level The international relationships and the role of business on an international scale characterizes the macro level. At the macro level the role of business in the national and international organization of society and the relative morality of different political/social systems, free enterprises and centrally planned economies. The social responsibility of ethical issues facing individual corporate entities (private and public sector) when developing and implementing strategies is at the corporate level. Lastly, behavior and actions of individuals within organizations can be allocated at the individual level. The concept of morality is that it is "proper behavior" and "knowing the difference between “right and wrong". (et al) Therefore, morality provides the underlying foundations and establishes the tone, in which businesses should conduct itself professionally. Unfortunately, in the more recent years, complications with business ethics and morality abroad, has been on a constant rise. Many of the ethical issues arise as a result of poor human management. More concisely, some of the ethical issues are in relation to the hiring, management and dismissal of the people who work in your business. It is unfortunate, that some organizations don’t realize that the people who work in your business also have certain rights that are bound to ethics. On the other hand, microeconomics is the study of financial issues from the perspective of individual economic units, such as a single household, small business or individual. The minimum wage has a number of positive and negative effects on businesses, families and individual workers, from a microeconomics perspective. For clarity purposes, minimum wage is a prescribed wage level that must be met or exceeded by employers in all employment contracts, as set forth in the Fair Labor Standards Act. Likewise, the issue of minimum wage, has been contested time and time again and remains a very highly sensitive and debatable topic. Notwithstanding, one of the main arguments in opposition to raising the minimum wage is that higher wages increase operating costs for small business. Furthermore, the traditional high Global Competitive Reports (GCR), which has raised issues on multiple levels according to the US, is largely attributable to fallacies poor science and ideology. “The GCR purports to be an objective scientific instrument, but is in fact based on ideology that (mis)leads governments, corporations and individuals to make decisions that are unethical in their application and effects”. (Bergsteiner, H., & Avery, G, 392) Immense differences between Eastern and Western cultures and business environments, that once meet in theory in national and regional organizations are now failing. . “Differences in style and culture that may once have appeared to be trivial are having major impacts on the ability of global organizations to maintain uniform standards of practice and operating procedures.” (Finfleman, J., & Lopez, O.) Lastly, the issues with the environmental sustainability which involves making decisions and taking action that are in the interests of protecting the planet. Currently, environmental sustainability is a topical issue that receives plenty of attention from the media and from different governmental departments. This is a result of the amount of research going into assessing the impact that human activity can have on the environment. References Brummer, J. (1985). Business Ethics: Micro and Macro. Journal of Business Ethics, 4(2), 81-91. Edition, Custom. SKS 5000-Business Strategies for Organizational Effectiveness within the Global Perspective VitalSource eBook for Northcentral University. Pearson Learning Solutions. VitalBook file. Strubler, D., Park, S., Agarwal, A., & Cayo, K. (2012). DEVELOPMENT OF A MACRO-MODEL OF CROSS CULTURAL ETHICS. Journal Of Legal, Ethical & Regulatory Issues, 15(2), 25-34. Bergsteiner, H., & Avery, G (2012). When Ethics are Compromised by ideology: The Global Competitiveness Report. Journal Of Business Ethics, 109(4), 391-410 Finfleman, J., & Lopez, O. (2012). Global consulting in a culturally diverse world; Ethical and legal implications. Consulting Psychology Journal: Practice And Research, 64(4), 307-324. Doi:10.1037/a0031675