Which of the Following Statements About the Ethical Relativism School

question 3

Multiple Choice

Which of the following statements about the ethical relativism school of thinking is FALSE?

• A) In a multinational company, application of ethical relativism equates to multiple sets of ethical standards.
• B) There are few absolutes when it comes to business ethics and thus few ethical absolutes for consistently judging a company's conduct in various countries and markets.
• C) When there are cross-country or cross-cultural differences in ethical standards, it is appropriate for ethical standards in a company's home market to take precedence over what the local ethical standards may be.
• D) A company that adopts the principle of ethical relativism and holds company personnel to local ethical standards necessarily assumes that what prevails as local morality is an adequate guide to ethical behavior.
• E) According to the ethical relativism school of thinking, a "one-size-fits-all" template for judging the ethical appropriateness of business actions and the behaviors of company personnel does not exist.

Identifying the advanced strategies in knowledge management.

Assessing the evolving expectations from business leaders in terms of analytical and results-oriented approaches.

Understanding strategic leadership's involvement in providing direction and inspiring organizational sustainability and creation.

Distinguishing between various business strategies such as the Hedgehog concept, acquisition, competitive advantage, differentiation, and the significance of a focused approach.

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Definitions:

Cash Receipts

Money received by a business, recorded in its financial statements, typically from transactions such as sales or services rendered.

Cash Sales

Transactions where payment is made in cash (or equivalent) at the time of sale, with no delay in payment.

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cash Remittances

Money transfers from one party to another, often sent by individuals working abroad to their family back home.