What is ethical relativism in business practices?

What is ethical relativism in business practices?

Ethical relativism in business practices suggests that moral standards are not universal and can vary based on culture or context.

Can you give me an example of ethical relativism in action?

Sure! For instance, a company may operate differently in a country where bribery is common and accepted, compared to a country where it's illegal.

How does this impact international business?

It complicates international business as companies must navigate varying ethical standards and practices, which can lead to conflicts.

What are the criticisms of ethical relativism?

Critics argue that ethical relativism can lead to moral ambiguity, allowing harmful practices to be justified under cultural norms.

Is there a way to balance ethical relativism with universal ethics?

Yes, some suggest a framework that respects cultural differences while upholding certain universal human rights and ethical standards.