Difference in Indian and US Economies Essay
Indian and U.S. economies differ in various aspects. First, the two countries differ in terms of the current gross domestic product (GDP). The U.S has a relatively higher GDP ($21.4 trillion) than India; hence ranked as the world’s largest economy by 2019 (Abidi, 2022). On the other hand, India’s GDP by 2019 was approximately $2.94 trillion, becoming the fifth largest economy globally (Abidi, 2022). Additionally, the economies of the two countries differ in terms of anticipated growth. By 2030, the U.S economy is expected to grow by 866, 727, while that of India will grow by about half of the U.S anticipated growth (428, 452) (Abidi, 2022).
Business ethics is a system of ethical beliefs, values, and behaviors that guide decisions and business operations in the organization. Ethics define accepted behavior and code of ethics within an organization, creating a conducive working environment. Parties involved in an organization, including the management and employees act in an ethical manner (Ezeanyim & Ezeanolue, 2021). The management adhered to organizational ethical guidelines when leading the workers. On the other hand, employees uphold honesty and integrity in their work, benefiting clients and the entire organization. Therefore, ethics significantly contribute to the overall performance and productivity of an organization.
I would sacrifice my integrity or ethics to earn $1,000,000 or $10 million. I believe that integrity is a strong value that should not be compromised even when one is offered a huge volume of money. Exchanging one’s integrity or honesty with money would result in the loss of one’s personality and character. It would then be difficult for a person without morals to secure employment in any organization that upholds ethical values and integrity.
Abidi. A. (2022). India and the US: 5 ways the countries compare. World Economic Forum. https://www.weforum.org/agenda/2020/02/india-and-the-us-how-the-worlds-largest-democracies-compare/
Ezeanyim, E. E., & Ezeanolue, E. T. (2021). Business Ethics and Organizational Performance in Manufacturing Firms in South-East, Nigeria. International Journal of Business & Law Research, 9(3), 1-14. https://seahipaj.org/journals-ci/sept-2021/IJBLR/full/IJBLR-S-1-2021.pdf
Discuss the difference between Indian and US economies? What is business ethics? How does ethics affect business in general? Would you sacrifice you integrity or ethics to earn $1,000,000? What about $10 million?