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| Refers to accepted principles of right or wrong governing the conduct of a person, the members of a profession or the actions of an organization |
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| The accepted principles of right or wrong governing the conduct of businesspeople |
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| The accepted principles of right or wrong governing the conduct of businesspeople |
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The most common ethical issues in the international business setting involve
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- Employment practices
- Human rights
- Environmental regulations
- Corruption
- Moral obligation of multinational corporations
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Organization for Economic Coorporation and Development
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French term for the payments made to speed the approval process, which is not made illegal by the FCPA (Foreign Corrupt Practices Act). |
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Individuals or groups that have an interest, claim, or stake in the company, in what it does, and in how well it performs. |
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Refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions, and that there should be a presumption in favor of decisions that have both good economic and social consequences.
(International Business: Competing in the Global Marketplace, 7th Edition. McGraw-Hill Create p. 138).
<vbk:9780390426451#page(138)>
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Situation in which none of the available alternatives seems ethically acceptable |
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was designed to allow GM (General Motors) to operate ethically in South Africa as long as the company did not obey the aparteid laws in its own South African operations. |
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denied basic political rightst to the majority non-white population of South Africa until 1994 |
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has one of the worst human rights records in the world |
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Foreign Corrupt Practices Act |
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outlaws the paying of bribes to foreign government officials to gain business
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payment paid to corrupt officials to secure a large order or to facilitate business |
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Speed money or grease money |
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the only social responsibility of business is to increase profits, so long as the company stays within the rules of law. |
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the belief that ethics are nothing more than the reflection of culture, and therefore, a firm should adopt the ethics of the culture in which it is operating |
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| everyone benefits from the atmosphere and oceans but no one is specifically responsible for them. Atmosphere and oceans are global commons. |
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Tragedy of the commons occurs |
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when a resource is shared by all, but owned by no one is overused by individuals, resulting in its degradation |
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