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21 Cards in this Set

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  • Back
business ethics
accepted principles o fright or wrong governing the conduct of businesspeople
ethical strategy
a course of action that does not violate a company's business ethics
Foreign Corrupt Practices Act
U.S. law regulating behavior regarding the condcut of international business in taking bribes and other unethical actions
Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
obliges member states to make the bribery of foreign public officials a criminal offense
social responsibility
the idea that businesspeople should consider the social consequences of economic actions when making business decisions
ethical dilemma
a situation in which there is no ethically acceptable solution
organization culture
the values and norms shared among an organization's employees
cultural relativism
the belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate
righteous moralist
claims that a multinational's home-country standards of ethics are the appropriate ones to follow in foreign countries
naive immoralist
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
utilitarian approaches
hold that the moral worth of actions or practices is determined by their consequences
Kantian ethics
hold that people should be treated as ends, and never purely as means to the ends of others
rights theories
a 20th century theory thatrecognizes that human being shave fundamental rights and privileges that transcend national boundaries and cultures
Universal Declaration of Human Rights
UN document that lays down the basic principles of human rights taht should be adhered to
just distribution
a distribution that is considered fair and equitable
code of ethics
a business's formal statement of ethical priorities
stakeholders
the individuals or groups who have an interest, stake, or claim in the actions and overall performance of a company
internal stakeholders
people who work for or who own the business such as employees, the board of directors, and stockholders
external stakeholders
the individuals or groups who have some claim on a firm, such as customers, suppliers, and unions
unethical behavior is rooted in:
poor personal ethics, the psychological and geographical distances of a foreign subsidiary from the home office, a failure to incorporate ethical issues into strategic and operation decision making, a dysfunctional culture, and fialure of leaders to act in an ethical manner
Friedman doctrine
states that the only social responsiblity of business is to increase profits, as long as the company stays within the rules of law