Exam 3: Politics, Law, and Business Ethics

________ law is based on a detailed set of written rules and statutes.

The likelihood that a society will undergo political changes that negatively affect local business activity is called ________.

All of the following are methods of managing political risk EXCEPT ________.

________ law is the most widely practiced theocratic system.

________ is the forced transfer of assets from a company to the government with compensation.

________ entails modifying operations, the product mix, or some other business element to suit local tastes and culture.

Explain how political relations between nations impacts international business.

A ________ system includes the structures, processes, and activities by which a nation governs itself.

Distinguish between the two types of political participation, citing examples in your answer.

Corporate social responsibility is the practice of going beyond ________ to actively balance commitments to investors, customers, other companies, and communities.

Conflict can arise from a people's resentment toward their government or from territorial disputes between countries.

The United Nations ________ has a broad mandate in the areas of international trade and economic development.

________ requirements are laws stipulating that a specified amount of a good or service be supplied by producers in the domestic market.

Most democracies have resorted to "representative" democracies in which citizens elect individuals from their groups to represent their political needs and views.

No legal system can anticipate nor address every conceivable situation in which a person or firm may find themselves.

The forced transfer of assets from a company to the government without compensation is called ________.

Socialism is an economic system in which the government owns and controls all types of economic activity without a Communist Party.

Explain how terrorism and kidnapping can affect international business and what companies can do to manage such risks.