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Ethical Theories in International Business: Utilitarianism vs Ethics

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Ethical Theories in International Business: Utilitarianism vs Ethics

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Questions and Answers

What ethical theory prioritizes actions that result in the greatest good for the greatest number of people?

Utilitarianism

Which ethical approach focuses on following universal moral principles and standards regardless of outcomes?

Ethics

Which ethical theory emphasizes the cultivation of virtuous traits like honesty and fairness?

Virtue Ethics

What ethical approach stresses the importance of respecting fundamental rights of individuals and groups?

Ethics based on Rights Signup and view all the answers

Why do multinational corporations in the UAE prioritize sustainability and climate change?

Risk Reduction Signup and view all the answers

What is one benefit of meeting consumer and investor demands for sustainable practices?

Enhances brand reputation and attracts investment opportunities Signup and view all the answers

What does integrating sustainability into business strategies enhance?

Long-term profitability, operational efficiency, and access to new markets and opportunities Signup and view all the answers

What does upholding transparency and ethical standards in business operations foster?

Trust and accountability Signup and view all the answers

What does the Social Responsibility Pyramid of Companies include as one of its responsibilities?

Moral Responsibility: Upholding ethical standards in business operations reflects a commitment to fairness, honesty, and integrity Signup and view all the answers

How does personal communication contribute to effective leadership and team building?

Enables leaders to inspire and motivate Signup and view all the answers