1. The concept of international social responsibility includes the expectation that MNCs should be concerned about the social and the economic effects of their decisions regarding activities in other countries.
2. Moral universalism refers to the need for a moral standard that is accepted by all cultures.
3. Concerns about MNC social responsibility revolve around issues of human rights in other countries, such as South Africa and China. Many organizations develop codes of conduct for their approach to business around the world.
4. International business ethics refers to the conduct of MNCs in their relationships to all individuals and entities with whom they come into contact. Ethical behavior is judged and based largely on the cultural value system and the generally accepted ways of doing business in each country or society. MNC .managers must decide whether to base their ethical standards on those of the host country or those of the home country and whether these different standards can be reconciled.
5. MNCs must balance their responsibility to various stakeholders, such as owners, creditors, consumers, employees, suppliers, governments, and societies.
6. Questionable payments are those payments that raise significant questions about appropriate moral behavior either in the host nation or other nations. The Foreign Corrupt Practices Act prohibits most questionable payments by U.S. companies doing business in other countries.
7. Managers must control their activities relative to interdependent relationships at all levels, from simple, daily business transactions involving local workers, intermediaries, or consumers to global concerns of ecological responsibility.
8. The MNC-host country relationship is generally a love-hate relationship from the host-country's viewpoint in that it wants the economic growth that the MNC can provtde but does not want the dependency and other problems that result.
9. The failure to effectively manage interdependence will result in constraints on strategy, in the least, or in disastrous consequences for the local area, the subsidiary, and the global reputation of the company.
10. Managing environmental interdependence includes the need to consider ecological interdependence as well as the economic and social implications of MNC activities.
SUMMARY OF KEY POINTS : Managing Interdependence article from Global Management Catagory SUMMARY OF KEY POINTS
SUMMARY OF KEY POINTS Managing Interdependence article from Managing Interdependence Global Management.Free learning from data about SUMMARY OF KEY POINTS Managing Interdependence Global Management Business Management,online business management,business management classes,online business management degrees