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16 Cards in this Set

  • Front
  • Back

Pros of globalization

Lower prices for goods, greater economic growth, higher consumer income, more jobs

Cons of globalization

Job losses, environmental degradation, cultural imperialism of global media and MNEs

Righteous moralist

A multinationals home country standards of ethics should be followed in foreign countries

Ethical issues faced by international businesses

Employment practices, human rights, environmental regulations, corruption, moral obligation of multinational companies.


Removing legal restrictions to the free play of markets, the establishment of private enterprises, and the manner in which private enterprises operate.


Transfers the ownership of state property into the hands of private investors.

Determinants of culture

Religion, language, education, social structure, political and economic philosophies.

Four dimensions of culture

Masculinity, individualism, power distance, uncertainty.

Implications of cultural differences for international businesses

Cross cultural literacy to appreciate cultural differences and what they mean for business, connection between culture and competitive advantages, culture and ethics

Ways to ensure ethical issues are considered in business decisions

Ethical employees, ethical leadership, organizational culture, moral courage, decision making processes, code of ethics, ethics officers.

How can managers make ethical decisions

Ask: does this decision fall within accepted values

How would I feel if this decision was made public to stake holders

What would family/friends/colleauges think

Audit and review decisions, think with moral intent

Costs of a market

Corruption, lack of infrastructure, legal fees

Political risks of a market

Social unrest, anti business trends

Economic risks of a market

Economic mismanagement


Failure to safeguard property rights

Indicators of evonomic development

Gross national income, purchasing power parity, human development jndex