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CHAPTER 4 SUMMARY - CHAPTER 4 SUMMARY 1 The term ethics...

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CHAPTER 4 SUMMARY 1. The term ethics refers to accepted principles of right or wrong that govern the conduct of a person, the members of a profession, or the actions of an organization. Business ethics are the accepted principles of right or wrong governing the conduct of businesspeople, and an ethical strategy is one that does not violate these accepted principles. 2. Ethical issues and dilemmas in international business are rooted in the variations among political systems, law, economic, development, and culture from nation to nation. 3. The most common ethical issues in international business involve employment practices, human rights, environmental regulations, corruption, and the moral obligation of multinational corporations. 4. Ethical dilemmas are situations in which none of the available alternatives seems ethically acceptable. 5. Unethical behavior is rooted in poor personal ethics, the psychological and geographical distances of a foreign subsidiary from the home office, a failure to
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