MIB International Business Law & Ethics 3

Question 1

Which ethical framework holds that actions are morally right if they produce the greatest good for the greatest number of people?

Accepted Answer

Utilitarianism

Answer

Utilitarianism, associated with philosophers Jeremy Bentham and John Stuart Mill, evaluates the morality of actions based on their outcomes and overall welfare maximization.

Question 2

Corporate Social Responsibility (CSR) in an international business context primarily refers to:

Accepted Answer

A company's voluntary commitment to operate ethically and contribute positively to society and the environment

Answer

CSR encompasses voluntary initiatives by businesses to integrate ethical, social, and environmental considerations into their operations and interactions with stakeholders beyond minimum legal requirements.

Question 3

The UN Global Compact, the world's largest corporate sustainability initiative, asks companies to align with principles related to:

Accepted Answer

Human rights, labor standards, environmental responsibility, and anti-corruption

Answer

The UN Global Compact's ten principles are organized around four areas: human rights, labor, environment, and anti-corruption, calling on companies to embrace and enact them.

Question 4

'Cultural relativism' in international business ethics argues that:

Accepted Answer

Moral standards differ across cultures and practices should be judged within their own cultural context

Answer

Cultural relativism holds that ethical norms are culturally contingent and that business practices should be understood and evaluated within the specific cultural context in which they occur.

Question 5

The OECD Guidelines for Multinational Enterprises provide:

Accepted Answer

Voluntary recommendations on responsible business conduct covering human rights, labor, environment, and corruption

Answer

The OECD Guidelines are non-binding recommendations addressed by governments to MNEs operating in or from adhering countries, covering a broad range of responsible business conduct issues.

MIB - Master of International Business Practice Test

MIB - Master of International Business Practice Test

MIB International Business Law & Ethics 3