Chapter 15: Globalization and Society

Question 1

Deontological Approach

Answer 1

an approach which asserts that moral reasoning occurs independent of consequences

Question 2

Foreign Corrupt Practices Act (FCPA)

Answer 2

a law that criminalizes certain types of payments by US companies, such as bribes to foreign government officials

Question 3

Normativism

Answer 3

a theory stating that universal standards of behavior (based on people’s own values) exist that all cultures should follow, making nonintervention unethical

Question 4

Relativism

Answer 4

ethical truths depend on the groups holding them, making intervention by outsiders unethical. The belief that behaviour has meaning and can be judged only in its specific cultural context.

Question 5

Stakeholders

Answer 5

The collection of groups, including stockholders, employees, customers, and society at large, that a company must satisfy to be successful.

Question 6

Sustainability

Answer 6

the ability to meet the needs of the present without compromising the needs of future generations, while taking into account what’s best for the people and the environment

Question 7

teleological approach

Answer 7

an approach based on the idea that decisions are made based on the consequences of the action

Question 8

Utilitarianism

Answer 8

A consequence-based approach to moral reasoning that judges an action to be right if it does the most good to the most people