Question 1

If there are no clear local ethical standards,companies should revert to their own domestic ethical policies rather than work in the absence of any standards.

Accepted Answer

It is always better for companies to follow ethical standards, and in the absence of clear local standards, reverting to their own domestic policies is the responsible and ethical thing to do. This helps to ensure that the company is still adhering to its own values and principles, even when working in unfamiliar territory. Additionally, it shows that the company is committed to ethical behavior, even in the absence of external guidelines.

Question 2

Ethical Relativism arises when a multinational company comes up against a policy that is banned both in its own country and in the country with which it's doing business.

Accepted Answer

Ethical Relativism suggests that what is considered morally right or wrong can vary from one culture or society to another, and it does not specifically arise from a policy being banned in both countries.

Question 3

Multinational corporations include those corporations that generate products and/or services in multiple countries and implement operational policies (marketing,staffing,and production)that go beyond national boundaries.

Accepted Answer

Multinational corporations operate in multiple countries and have policies that extend beyond national boundaries.

Question 4

The term "globalization" refers to the phenomenon that divided the world into two opposing factions during the Cold War.

Accepted Answer

The term "globalization" refers to the interconnectedness and integration of economies, cultures, and societies around the world, and it is not related to the Cold War or the division of the world into opposing factions.

Question 5

Moving the ethical commitment of an organization to a global stage requires nothing more than increasing the scale of the policies and procedures.

Accepted Answer

Moving the ethical commitment of an organization to a global stage requires not only increasing the scale of the policies and procedures, but also taking into consideration cultural differences, country-specific regulations and laws, and the impact on local communities and the environment.

Question 6

Multinational corporations are also known as intranational corporations.

Accepted Answer

Multinational corporations operate in multiple countries, while intranational corporations operate only within one country.

Question 7

Focusing on doing the greatest good for the greatest number of people often means that there is no accountability for individual actions.

Accepted Answer

The answer of Focusing on doing the greatest good for...

Question 8

A multinational corporation is a company that provides and sells products and services across multiple national borders.

Accepted Answer

A multinational corporation operates in multiple countries and generates revenue from various markets around the world. It may have subsidiaries or branches in several countries and may adapt its products and services to local markets.

Question 9

Ethical Relativism refers to the gray area in which ethical principles are defined by the traditions of society,personal opinions,and the circumstances of the present moment.

Accepted Answer

Ethical Relativism suggests that ethical principles are not absolute and universal, but instead are defined by various factors such as cultural traditions, personal beliefs and experiences, and the particular circumstances of the situation. Therefore, the answer is true.

Question 10

The European Economic Community is an example of a regional trade bloc.

Accepted Answer

The European Economic Community, which later became the European Union, was a regional trade bloc established in 1957 to encourage economic cooperation and free trade among its member countries.

Question 11

Utilitarianism is a theory in ethics that advocates making choices that offer the greatest good for the greatest number of people.

Accepted Answer

Utilitarianism is focused on maximizing overall happiness or well-being, which involves selecting choices that benefit the majority of people rather than just a few.

Question 12

The growth of multinational corporations,as a global phenomenon,has raised no ethical issues.

Accepted Answer

The growth of multinational corporations has raised various ethical issues, including exploitation of cheap labor, environmental degradation, tax avoidance, and cultural imperialism.

Question 13

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

Accepted Answer

A developed nation is typically characterized by a high GDP per capita, advanced infrastructure, high literacy rates, and access to modern healthcare and education.

Question 14

The term "globalization" has applications in commercial,economic,social,and political environments.

Accepted Answer

Globalization refers to the increasing interconnectedness and interdependence of economies, societies, and cultures across the world. It has implications in various domains including commerce, trade, finance, technology, migration, labor, and governance.

Question 15

Globalization benefits corporations from economically advanced nations because access to resources in developing nations enables lower production costs that equate to lower prices and higher income standards for their customers.

Accepted Answer

Globalization allows corporations from economically advanced nations to outsource production to developing nations where labor costs are lower. This allows for lower production costs, which can translate to lower prices for consumers and higher profits for the corporations. Additionally, access to a larger market and resources in developing nations can lead to increased revenue for corporations.

Question 16

The downside of globalization is that corporations are free to take full advantage of less restrictive legal environments in developing countries.

Accepted Answer

Globalization allows corporations to seek out countries with weaker laws and regulations, which can lead to exploitation of workers, environmental damage, and other negative consequences.

Question 17

A less-developed nation is a country that lacks the economic,social,and technological infrastructure of a developed nation.

Accepted Answer

A less-developed nation, also known as an underdeveloped country or a developing country, is a nation that lacks the economic, social, and technological infrastructure of a developed nation. This may include limited access to education, healthcare, transportation, and communication technologies, as well as lower standards of living and higher levels of poverty. Examples of less-developed nations include many countries in Africa, Asia, and South America.

Question 18

Globalization refers to the expansion of international trade to a point where,across the globe,regional trade blocs have overtaken national markets.

Accepted Answer

Globalization is the process of increasing connectivity and interdependence of the world's markets and businesses. This involves the expansion of international trade, with regional trade blocs like the European Union and ASEAN becoming increasingly influential. Globalization has led to the emergence of global markets that transcend national boundaries.

Question 19

For organizations,international markets represent new customers as well as sources of cheaper materials and cheap labor.

Accepted Answer

International markets offer organizations the opportunity to expand their customer base and potentially reduce their production costs by sourcing materials and labor from countries with lower costs of living.

Question 20

The financial strength of the Western nations has made developing nations more amenable to accepting general standards of business practice.

Accepted Answer

The financial strength of the Western nations is seen as a threat to equal representation of the developing nations, and as a result, those developing nations hold onto their national identities and cultures, thereby precluding any agreement on a general standard of business practice.

Quiz 9: Ethics and Globalization