4 – Ethics in International Business – Flashcards
Unlock all answers in this set
Unlock answersquestion
BUSINESS ETHICS
answer
accepted principles of right or wrong governing the conduct of business-people
question
ETHICAL STRATEGY
answer
course of action that does not violate accepted business ethics
question
COMMON ETHICAL ISSUES
answer
employment practices, human rights, environmental regulations, corruption, and the moral obligation of multinational corporations
question
APARTHEID
answer
racial segregation; specifically : a former policy of segregation and political and economic discrimination against non-European groups in the Republic of South Africa
question
FOREIGN CORRUPT PRACTICES ACT IN THE UNITED STATES
answer
passed in 1977 outlawed the paying of bribes to foreign government officials to gain business later amended to allow "facilitating payments"
question
SEED MONEY/GREASE PAYMENTS/FACILITATING PAYMENTS
answer
payments to ensure receiving the standard treatment that a business ought to receive from a foreign government, but might not due to the obstructions of a foreign official NOT payments to secure contracts that would not otherwise be secured NOT payments to obtain exclusive preferential treatment
question
CONVENTION ON COMBATING BRIBERY OF FOREIGN PUBLIC OFFICIALS IN INTERNATIONAL BUSINESS TRANSACTIONS
answer
enforced in 1999 obliges member states and other signatories to make the bribery of foreign public officials a criminal offense excluded facilitating payments made to expedite routine government action
question
SOCIAL RESPONSIBILITY
answer
refers to the idea that business-people should consider the social consequences of economic actions when making business decisions and that there should be a resumption in favor of decisions that have both good economic and social consequences
question
NOBLESSE OBLIGE
answer
French term that refers to honorable and benevolent behavior considered a responsibility of people of high birth. In a business setting, it is taken to mean benevolent behavior that is the responsibility of successful enterprises.
question
ETHICAL DELIMMAS
answer
situations in which none of the available alternatives seem ethically acceptable
question
ORGANIZATION CULTURE
answer
the values and norms that are shared among employees of an organization
question
VALUES
answer
abstract ideas about what a group believes to be good, right, and desirable
question
NORMS
answer
social rules and guidelines that prescribe appropriate behavior in particular situations
question
VALUES AND NORMS
answer
shape the culture of a business organization and that culture has an important influence on the ethics of business and decision making
question
STRAW MEN
answer
approaches to business ethics are raised by business scholars primarily to demonstrate that they offer inappropriate guidelines for ethical decision making in a multinational enterprise ex: Friedman Doctrine, cultural relativism, the righteous moralist, and the naive immoralist
question
FRIEDMAN DOCTRINE
answer
the only social responsibility of business is to increase profits, so long as the company stays within the rules of law
question
CULTURAL RELATIVISM
answer
the belief that ethics are nothing more than the reflection of culture -- all ethics are culturally determines -- and that accordingly, a firm should adopt the ethics of the culture in which it is operating ex: when in Rome do as the Romans
question
RIGHTEOUS MORALIST
answer
claims that a multinational's home-country standards of ethics are the appropriate ones for companies to follow in foreign countries
question
NAIVE IMMORALIST
answer
asserts that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either.
question
UTILITARIAN APPROACH
answer
holds that the moral worth of actions or practices is determined by their consequences committed to the maximization of the good and the minimization of the bad ex: cost-benefit analysis and risk assesment
question
KANTIAN ETHICS
answer
holds that people should be treated as ends and never purely as means to the ends of others ex: people are not instruments - they have dignity and need respect
question
RIGHTS THEORIES
answer
recognize that human beings have fundamental rights and privileges that transcend national boundaries and cultures
