Chapter 9: Ethics And Globalization

Question 1

Less Developed Nations

Answer 1

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

Question 2

Developed Nation

Answer 2

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

Question 3

Ethical relativism

Answer 3

Gray area in which your ethical principles are defined by the traditions of your society, your personal opinions, and circumstances of the present moment.

Question 4

Global code of conduct

Answer 4

A general standard of business practice that can be applied equally to all countries over and above their local customs and social norms.

Question 5

UN Global compact

Answer 5

A voluntary corporate citizenship initiative endorsing 10 key principles that focus on four key areas of concern.

Question 6

OECD Guidelines for Multinational Enterprises definition:

Answer 6

Organization for Economic Cooperation and Development

Guidelines that promote principles and standards of behavior in the following areas: Human rights, information disclosure, anticorruption, taxation, Labor Relations, environment, competition, and consumer protection.

Question 7

What are the U.N. Global Compact’s 4 key areas of concern?

Answer 7

1. Human Rights
2. Labor Standards
3. Environment
4. Anti corruption

Question 8

What are the U.N. Global Compact’s 2 Principles associated with “Human Rights?”

Answer 8

1. Business should support and respect the protection of internationally proclaimed human rights.
2. Business should make sure they are not complicit in Human rights abuses.

Question 9

What are the U.N. Global Compact’s 4 Principles associated with “Labor Standards?”

Answer 9

1. Business should uphold the freedom of association and the effective recognition of the right to collective bargaining.
2. Business should uphold the elimination of all forms of forced and compulsory labor.
3. Business should uphold the effective abolition of child labor.
4. Business should uphold the elimination of discrimination in employment and occupation.

Question 10

What are the U.N. Global Compact’s 3 Principles associated with “Environment?”

Answer 10

1. Business should support a precautionary approach to environmental challenges.
2. Undertake initiatives to promote greater environmental responsibility.
3. Encourage the development and diffusion of environmentally friendly technologies.

Question 11

What is the U.N. Global Compact’s 1 Principle associated with “Anti Corruption?”

Answer 11

1. Business should work against all forms of corruption, including extortion and bribery.

Question 12

First set of five OECD Guidelines:

Answer 12

1. Concepts and principles
2. General policies
3. Disclosure
4. Employment and industrial relations
5. Environment

Question 13

Second set of five OECD Guidelines:

Answer 13

6. Bribery
7. Consumer interests
8. Science and tech
9. Competition
10. Taxation

Question 14

Define Globalization:

Answer 14

The expansion of international trade to a point where national markets have been overtaken by regional trade blocks, Leading eventually to a global marketplace.