What is meant by ethical relativism in business conduct?
Correct answer: B. The view that ethical standards may differ between cultures or situations
- A. The view that one universal rule governs every culture
- B. The view that ethical standards may differ between cultures or situations
- C. The view that only legal conduct is ethical
- D. The view that profits determine moral correctness
Explanation
Ethical relativism holds that judgments about right and wrong can depend on cultural or situational standards. It differs from the claim that legality or profitability alone determines whether conduct is ethical.
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About Business Ethics and Corporate Governance
Business ethics applies principles such as honesty, fairness, responsibility and transparency to decisions involving employees, customers, investors, competitors and society. Corporate governance covers the board of directors, accountability, disclosure, internal controls, stakeholder interests, agency conflicts, corporate social responsibility, codes of conduct and whistleblowing.
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