When a Company Chooses What Principle to Follow on Issues

question 94

True/False

When a company chooses what principle to follow on issues of ethics and social responsibility, there are two common philosophies to use as guides: let the free market and legal system decide or let individual managers and companies choose.

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Definitions:

Working Conditions

The environment in which an individual works, including aspects such as safety, hours, physical conditions, and job demands.

Underdeveloped Countries

Nations with low levels of industrialization, infrastructure, and human development indices compared to more developed countries.

Transnational Corporations

Large companies operating in multiple countries, not tied to a single nation, and often influencing global trade and economics.

Traditional Corporations

are companies or businesses that operate in conventional sectors with established structures and practices, often focused on manufacturing and production.