Question 1

Ethical relativism equates to sometimes conflicting sets of ethical standards.True or false? Explain your answer.

Accepted Answer

The school of ethical relativism holds that when there are national or cross-cultural differences in what is deemed an ethical or unethical business situation,it is appropriate for local moral standards to take precedence over what the ethical standards may be in a company's home market.The thesis is that whatever a culture thinks is right or wrong really is right or wrong for that culture.From a global markets perspective,ethical relativism may result in a maze of conflicting ethical standards for multinational companies.

Question 2

What is the essence of the theory of corporate social responsibility (CSR)? How does the CSR theory differ from the concept of corporate citizenship?

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Question 3

Discuss briefly what is meant by the terms ethical universalism and ethical relativism.Where does integrative social contracts theory fit into the debate about ethical standards? Which of the three schools of thought stands on the strongest ground?

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Question 4

Explain what is meant by the "triple bottom line."

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Question 5

Explain how companies committed to environmental sustainability are able to address society's concerns about protecting the environment while lowering costs and/or creating value for customers.

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Question 6

What is meant by integrative social contracts theory? How does such an approach ensure a strong commitment to business ethics in companies with international operations?

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Question 7

Why should a company endeavor to be socially responsible in its actions and conduct?

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Question 8

There is a high correlation between socially responsible behavior that addresses social issues and a firm's competitive advantage and financial performance.Comment.

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Question 9

Explain the difference between the school of ethical universalism and the school of ethical relativism.

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Question 10

Explain the key tenets of the concept of environmental sustainability.How does striving for environmental sustainability impact strategic initiatives involving a company's shareholders,its employees,and the environment?

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Question 11

Explain what is meant by "sustainable business practices," and using that explanation,provide three examples of companies that pursue sustainability strategies.

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Question 12

Explain the difference between ethical universalism and integrative social contracts theory.Which school of thought do you think is most valid? Explain the reasons for your answer.

Accepted Answer

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Quiz 9: Ethics,Corporate Social Responsibility,Environmental Sustainability, and Strategy