Chapter Five - Ethics In International Business

Front 1

business ethics

Back 1

Accepted principles of right or wrong governing the conduct of businesspeople.

Front 2

ethical strategy

Back 2

A course of action that does not violate a company's business ethics.

Front 3

Foreign Corrupt Practices Act

Back 3

U.S. law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions.

Front 4

Organization for Economic Cooperation and Development

Back 4

A Paris-based intergovernmental organization of wealthy nations whose purpose is to provide its 29 member states with a forum in which governments can compare their experiences, discuss the problems they share, and seek solutions that can then be applied within their own national contexts.

Front 5

Convention on Combating Bribery of Foreign Public Officials in International Business Transactions

Back 5

an OECD convention that establishes legally binding standards to criminalize bribery of foreign public officials in international business transactions and provides for a host of related measures that make this effective.

Front 6

social responsibility

Back 6

The idea that businesspeople should consider the social consequences of economic actions when making business decisions.

Front 7

ethical dilemma

Back 7

A situation in which there is no ethically acceptable solution.

Front 8

organization culture

Back 8

The values and norms shared among an organizations employees.

Front 9

cultural relativism

Back 9

The belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate.

Front 10

righteous moralist

Back 10

Claims that a multinationals home-country standards of ethics are the appropriate ones to follow in foreign countries.

Front 11

naive immoralist

Back 11

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.

Front 12

utilitarian approaches to ethics

Back 12

These hold that the moral worth of actions or practices is determined by their consequences.

Front 13

Kantian ethics

Back 13

Holds that people should be treated as ends, and never purely as means to the ends of others.

Front 14

right theories

Back 14

A twentieth-century theory that recognizes that human beings have fundamental rights and privileges that transcend national boundaries and cultures.

Front 15

Universal Declaration of Human Rights

Back 15

A United Nations document that lays down the basic principles of human rights that should be adhered to.

Front 16

just distribution

Back 16

A distribution that is considered fair and equitable.

Front 17

code of ethics

Back 17

A business formal statement of ethical priorities.

Front 18

stakeholders

Back 18

The individuals or groups that have an interest, stake, or claim in the actions and overall performance of a company

Front 19

internal stakeholders

Back 19

People who work for or own the business such as employees, directors, and stockholders.

Front 20

external stakeholders

Back 20

Individuals or groups who have some claim on a firm such as customers, suppliers, and unions.