Global Business labor practices
Global Business Labour Practices
Global companies faced some myriad challenges when practising in developing countries. Most of the developing economies are used to most illegal practises, for instance, forced labour, corruption, Long working hours, low payments, child labour, gender inequality and violation of indigenous people rights. When entering such markets, the global companies are faced with the dilemma of abiding by their core principles of respect to humanity and commitment to labour standards or be assimilated to the conditions in the hosting countries(Robb and Bailey). Tax evasion, financial mismanagement, racketeering, and money laundering have severely challenged hosting nation’s stability, governance efficiency, and an increase in national risk.
Issues faced by Global Businesses from Illegal labour practices in Emerging Economies
Any work that harms the well-being of a child by hindering his/her education, future livelihood and development can be referred to as child labour. The ILO provides the frame work or laws to regulate child labour by defining a clear line between acceptable and non-acceptable that encompasses the minimum age for one to be employed. Generally, the minimum age this age shouldn’t be less than that of school completion. Global businesses are forced to adhere to these standards while practising in developing countries. The company has to look into the prevalent of child l…
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