Question 1

From a business ethics perspective,the constant hunger for growth at any cost does not present an ethical dilemma.

Accepted Answer

The constant hunger for growth at any cost can present ethical dilemmas. For example, a company's pursuit of growth may lead to exploitation of workers, environmental destruction, or engaging in activities that harm society. Ethical considerations should be taken into account when making decisions about business growth.

Question 2

International markets represent growth,and with profitable growth comes happy shareholders and rising stock prices.

Accepted Answer

The statement is correct. As companies expand into international markets, they have the potential to increase profits and drive growth. This leads to a positivity for shareholders and can result in rising stock prices.

Question 3

Globalization is the expansion of international trade to a point,where regional trade blocs have overtaken national markets,leading eventually to a global marketplace.

Accepted Answer

Globalization refers to the interconnectedness and integration of economies, societies, and cultures across national borders, resulting in the expansion of international trade and the development of regional trade blocs. As regional trade blocs grow in significance, they may eventually lead to the emergence of a global marketplace that transcends national markets.

Question 4

Business transactions in different countries do not force North American companies to revisit the ethical principles to which they are committed.

Accepted Answer

When conducting business in different countries, North American companies must consider the cultural and ethical differences that may exist and may need to revisit or adapt their ethical principles to ensure that they are still being upheld. Failure to do so can lead to negative impacts on the company's reputation and relationships with stakeholders.

Question 5

Less-developed nations are countries that lack the economic,social,and technological infrastructure of a developed nation.

Accepted Answer

Less-developed nations (also known as developing countries) are characterized by a low level of economic development, social development, and technological infrastructure when compared to developed nations.

Question 6

The term globalization has the same meaning for both developed and less developed countries.

Accepted Answer

The term globalization has different meanings for developed and less developed countries. Developed countries may see it as an opportunity for growth and expansion, whereas less developed countries may see it as a threat to their local economies and cultures.

Question 7

Less-developed nations stereotypically know how to play the game of globalization.

Accepted Answer

This statement is false. Less-developed nations often struggle to compete in the global market due to lack of resources and infrastructure, as well as facing unequal trade practices and barriers from wealthier nations.

Question 8

Multinational corporations are also referred to as crossnational corporations.

Accepted Answer

Multinational corporations are typically referred to as multinational enterprises or transnational corporations, not crossnational corporations.

Question 9

Utilitarianism is ethical choices that offer the greatest good for a small portion of individuals within a nation.

Accepted Answer

Utilitarianism is a type of ethical theory that suggests the best action is the one that maximizes overall happiness or pleasure for the greatest number of people. It focuses on the collective welfare and benefits of society rather than a small portion of individuals. Therefore, the statement is inaccurate, and the correct answer is B).

Question 10

A multinational corporation is a company that operates across multiple national borders in the provision and sale of products and services.

Accepted Answer

A multinational corporation is defined as a firm that operates in multiple countries, typically with headquarters in one country and operations in several others. This can include the production, marketing, and sale of goods or services in various regions around the world. Examples of multinational corporations include Coca-Cola, McDonald's, and Apple.

Question 11

The term globalization only has applications in economic and political environments.

Accepted Answer

The term globalization has applications not only in economic and political environments, but also in social, cultural, and technological environments. It refers to the increasing interconnectedness and interdependence of countries and people across the world in various aspects of life.

Question 12

The ideal "black and white" world of ethics must give way to a gray area of ethical relativism.

Accepted Answer

The answer of The ideal "black and white" world of...

Question 13

The assumption that "what works here works there" has made several companies extremely wealthy over the years.

Accepted Answer

The answer of The assumption that "what works here works...

Question 14

Critics argue that most MNCs have chosen to ignore all ethical standards in the pursuit of the all mighty dollar.

Accepted Answer

The answer of Critics argue that most MNCs have chosen...

Question 15

Developed nations typically have a low standard of living.

Accepted Answer

Developed nations typically have a high standard of living, with access to better healthcare, education, infrastructure, and technology.

Question 16

When you focus on doing the greatest good for the greatest number of people,there is no accountability for individual actions.

Accepted Answer

The answer of When you focus on doing the greatest...

Question 17

Less-developed countries lack the economic,social,and technological infrastructure of a developed nation.

Accepted Answer

Less-developed countries usually have limited resources and capabilities in terms of technology, education, healthcare, infrastructure, and other areas that are necessary for economic and social development. These countries often face poverty, inequality, and lack of basic necessities such as food, water, and shelter.

Question 18

Critics have argued that most MNCs ignore all ethical standards in the pursuit of the almighty dollar because if they didn't pursue the business,somebody else would,and they are operating in full compliance with local laws and regulations.

Accepted Answer

The answer of Critics have argued that most MNCs ignore...

Question 19

Any country that enjoys a high standard of living as measured by economic,social,and technological criteria is a developed nation.

Accepted Answer

This statement is true. A developed nation is usually characterized by high levels of economic growth, social welfare and technological advancements. Some examples of developed nations include the United States, Japan, Canada, Australia, and the countries of Western Europe.

Question 20

Ethical relativism exists when ethical principles are defined by the traditions of a person's society,his or her personal opinions,and the circumstances of the present moment.

Accepted Answer

Ethical relativism asserts that moral principles are not universally applicable and that ethical judgments should be made according to cultural, historical, and contextual factors. Thus, ethical principles are created based on a person's society, personal beliefs, and the particular situations they encounter.

Quiz 9: Ethics and Globalization