Global Business Today Study Set 7

Business

Quiz 5 :

Ethics, Corporate Social Responsibility, and Sustainability

Quiz 5 :

Ethics, Corporate Social Responsibility, and Sustainability

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An individual's personal ethical code generally has little influence on their behavior in business.
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False

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Many of the ethical issues in international business are rooted in the fact that political systems, law, economic development, and culture vary significantly from nation to nation.
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True

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John Rawls argues that all economic goods and services should be distributed equally except when an unequal distribution would work to everyone's advantage.
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True

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Business leaders should use every relevant opportunity to stress the importance of business ethics and make sure that key business decisions not only make good economic sense but also are ethical.
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According to the concept of cultural relativism, a firm, while operating in any host country, should adopt the ethics of the culture that is predominant in its home country.
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One criticism of the righteous moralist approach to ethics is that adopting home-country standards isn't always appropriate.
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The term ethics refers to accepted principles of right or wrong that govern the conduct of a person, the members of a profession, or the actions of an organization.
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An ethical dilemma occurs when neither of the choices in a situation seem appropriate or right.
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The utilitarian approaches to ethics are based on the idea that the moral worth of actions is determined by their ultimate consequences.
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In order to create a business culture that places a high value on ethical behavior, a system of incentives and rewards must be in place.
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After it was amended, the Foreign Corrupt Practices Act allowed for "facilitating payments."
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The phenomenon known as the tragedy of the commons occurs when multiple companies attempt to produce and sell the same products.
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One concern with the utilitarian approach is that the action that produces the greatest good for the greatest number of people may result in the unjustified treatment of a minority.
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The social rules that provide guidelines for appropriate behavior in a particular situation are known as values.
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Kantian ethics is concerned with environmental ethical issues such as manufacturing emissions and polluted waters.
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The Sullivan principles stem from the beliefs of Leon Sullivan who felt it was not ethical for General Motors to operate in South Africa unless the company participated in apartheid laws for its African operations.
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According to John Rawls's veil of ignorance, inequalities are justified if they benefit the position of the least-advantaged person.
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Unfortunately, it is common in business practices to assume that people from different cultures make ethical decisions using the same process.
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"Facilitating payments" are payments to secure contracts that would not otherwise be secured.
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The OECD convention on bribery obliges member states and other signatories to make the bribery of foreign public officials a criminal offense.
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