Ch 9
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| Business ethics concerns | the application of general ethical principles and standards to the actions and decisions of companies and the behavior of company personnel.
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| Ethical principles in business | are not materially different from ethical principles in general.
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| Ethical principles as they apply to business conduct and business decisions | are not materially different from ethical principles in general.
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| Notions of right and wrong, fair and unfair, moral and immoral, ethical and unethical | are present in all societies, organizations, and individuals; some of the most important concepts (for example, being truthful) of what is right and what is wrong resonate with people of most cultures, and are thus universal.
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| The school of ethical universalism holds that | some concepts of what is right and what is wrong resonate with peoples of most societies regardless of local traditions and cultural norms—hence common ethical standards can be used to judge the conduct of personnel at companies operating in a variety of
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| According to the school of ethical universalism, | to the extent there is common moral agreement about right and wrong actions and behaviors across multiple cultures and countries, there exists a set of universal ethical standards to which all societies, all companies, and all individuals can be held acco
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| The contention that since different societies and cultures have divergent values and standards of right and wrong it is appropriate to judge behavior as ethical/unethical in the light of local customs and social mores rather than according to a single set | defines what is meant by ethical relativism.
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| The school of ethical relativism holds that | when there are cross-country or cross-cultural differences in what is deemed fair or unfair, what constitutes proper regard for human rights, and what is considered ethical or unethical in business situations, it is appropriate for local moral standards t
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| If one accepts the tenets of the school of ethical relativism, then it follows that | All of these
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| Multinational companies that forbid the payment of bribes and kickbacks in their codes of ethical conduct and that are serious about enforcing this prohibition | still have considerable difficulty in preventing the payments of bribes and kickbacks when such payments are entrenched as normal and customary in locations where they do business.
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