Chat with AIExam 2: Managing Interdependence Social Responsibility and Ethics
"When in Rome, do as the Romans do". Would this be a suitable guideline for MNC's doing business in developing countries with respect to ethical practices and social responsibility? Discuss.
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VerifiedIt would be quite easy for MNCs to adopt and follow the business practices of host countries with respect to ethical standards and social responsibility.However, MNC stakeholders expect that when MNCs operate in the global context, they should use their capital, skills and power to play a proactive role in handling worldwide social and economic problems and be concerned with host country welfare.It is in this context that MNC's should follow the highest ethical standards with respect to questionable payments as practical business considerations allow.Many MNCs have clear-cut policies regarding payment of bribes, kickbacks to suppliers etc.U.S MNCs are subject to the provisions of the Foreign Corrupt Practices Act 1977 that prohibits U.S companies from making illegal payments or other gifts or political contributions to foreign government officials for the purposes of influencing them in business transactions.As far as social responsibility is concerned, MNCs should concern themselves with issues of use of hazardous technology, poverty and lack of equal opportunity, environment, consumer concerns and employee safety and welfare.Several international agencies have developed codes of conduct for MNCs operating in less developed countries just so MNCs do not exploit host countries under the guise of "When in Rome, do as the Romans do.
All of the following are SA8000 proposed global labor standards that would be monitored by outside organizations EXCEPT ________.
(41) VerifiedB
What level of social responsibility is expected from domestic firms? What level is expected from international firms?
(31) VerifiedOpinions on the level of social responsibility that a domestic firm should demonstrate range from one extreme-the only responsibility of a business is to make a profit, within the confines of the law, in order to produce goods and services and serve its shareholders' interests to another extreme-companies should anticipate and try to solve problems in society.The stance toward social responsibility that a firm should take in its international operations, however, is much more complex-ranging perhaps from assuming some responsibility for economic development in a subsidiary's host country to taking an active role in identifying and solving world problems.
The concept of international social responsibility is the expectation that MNCs concern themselves about ________ effects of their decisions regarding activities in other countries.
(28) What are the different perceptions regarding corporations conducting business in China? What are the challenges faced by international managers regarding human rights issues?
(41) If McDonald's applies the morality it practices in the United States to all foreign countries in which it operates, then McDonald's is most likely adhering to ________.
(36) Which of the following best defines the concept of managing interdependence?
(44) The primary dilemma that Del Monte managers in Kenya face is whether to ________.
(39) What are some of the criticisms of MNCs operating in developing countries? What recommendations could you make to an MNC to avoid these criticisms?
(38) Firms with operations overseas are most likely to deal effectively with cross-cultural CSR dilemmas by ________.
(33) One of the primary complaints about the Foreign Corrupt Practices Act is that the legislation ________.
(40) As an international manager, what can you do to deal with the increasing scarcity of natural resources?
(42) How can international managers know what the "right" decision is when faced with questionable business practices? How can MNCs ensure that "right" decisions are made?
(40) What is the difference between ethics and social responsibility? What are some of the social responsibility issues that MNCs must consider?
(32) A firm's concern towards the community, workers, and environment in which it operates is known as ________.
(40) In a brief essay, discuss the three forms by which MNCs run the risk of their assets becoming hostage to host control.
(44) Transparency International is best described as a(n) ________.
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