Which of the following statements is true about ethical standards and culture around the world?

Question

Quizplus · Accepted Answer

Business managers working in foreign countries must navigate the cultural differences and set guidelines for their companies on how to operate both within their own culture and in other cultures. Corporate gift-giving customs and standards of business ethics can differ significantly from country to country. For example, in the United States, government officials are generally not allowed to accept expensive gifts from businesses, whereas in some other countries, gift-giving is an important part of business culture. Therefore, it is important for managers to be culturally sensitive and adapt their practices accordingly. American managers operating abroad should be aware of both local and home country standards and strive to strike a balance between the two.

Which of the Following Statements Is True About Ethical Standards