Exam 3: Politics, Law, and Business Ethics

Scenario: Common and Civil Law Wayne's Computer Corporation is considering the possibility of building a new manufacturing facility in a foreign country in order to lower labor and production costs.The legal department of Wayne's has been evaluating Paribo and Kirawi-the two countries which are the top contenders for the new facility-carefully. -Which of the following statements is true of Kirawi,a democratic nation whose legal system is based on common law?

The cultural relativist view says that a company's sole responsibility is to maximize profits for its owners while operating within the law.

Democracies try to preserve peaceful coexistence among groups of people with diverse cultural,ethnic,and racial backgrounds.These rights are known as ________ rights.

Which of the following terms refers to the forced transfer of assets from a company to the government without compensation?

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

Pluralism is a political system in which political leaders rely on military and bureaucratic power.

Explain each of the four means of incorporating risk into business strategies when companies employ an adaptation strategy.

Anarchism is the belief that every aspect of people's lives must be controlled in order for a nation's political system to be effective.

Laws designed to prevent companies from fixing prices,sharing markets,and gaining unfair monopoly advantages are called ________.

Which of the following is a disadvantage of local requirement laws to foreign companies?

Explain the risk-management method of "adaptation." Why would it most likely be less costly and time-consuming to pursue this method in a nation that practices civil law rather than in a nation that practices common law?

Which of the following does the secondary footprint measure?

Explain the three types of property seizure.Why might property seizure be a risk for a business operating in a totalitarian nation?

Describe four corporate responsibility issues and explain how these issues can impact a company's international relations.

Pluralistic political systems include authoritarian regimes such as communism and fascism.

What do communists and socialists have in common?

Under ________ the government endorses private ownership of property and a market-based economy but grants little or no political freedom.

Compare and contrast two prevalent political systems: totalitarianism and democracy,and explain how a country's political system influences its legal system.

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

Which of the following philosophies asserts that ownership of the means of production belongs in the hands of individuals and private businesses?