Social Responsibility and ethical issues related to Italy
Social responsibility and ethical issues are two very important factors which a businessman should check before starting any business in a country. In Italy, codes of conduct on ethics, bribery, exploitation and dishonesty are very common issues. Italy gained the attention of world by getting involved into one of the biggest accounting scandals in a prominent global company Parmalat in the year 2003. In Italy, even the corporate governance was up to the mark as per the international standards. All the prospective investors were worried about the level of political interference and conflicts between the politics and business.
In spite of all the issues and problems, there were many small business groups which function there following all the corporate social responsibilities and taking care of ethical issue (Agraa, 2011). They are bringing in new and innovative ideas to ensure social corporate responsibilities and ethical issues. One of the examples of such company is Monalisa which is an average clothing company. It ensures that all the relations with suppliers are on ethical values and they could do a lot for Italy if the resources are supplied properly. Also there are many companies which started to publish “District Social Reports” mentioning the positive impacts of their work on the society and the communities.
So looking at these initiatives, even the large companies started to make social responsibilities and the ethical issues as the major part of their businesses. This would definitely create a positive image of Italy among the investors (Ellerman & Buchner, 2007).
Type of business in Italy
Italy food is famous all over the world and the tourist’s destinations like Rome would never have enough number of restaurants. So I decided to start a restaurant business in Italy. Italians are very fond of food and hence it is a very good option for external investors. The restaurant’s menu would contain Italian as well as other food items to attract local as well as the tourists from all over the world.