is an idea proposed by economic theorist Milton Friedman, which states that a company's only responsibility is to increase its profits.
Frieman Doctrine (economic theory)
Ethics in global market
Any recruitment, hiring, or selection practice, or any transfer or promotion policy, or any benefit provision or other function of the employer's employment process that operates as an analysis or screening device.
An international organization (or organisation) is an organization with an international membership
The belief that people should be treated as ens and never as means to the ends of others.
The belief that a multinationals home-country standards of ethics are the appropriate ones for companies to follow in foreign countries.
The belief that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either.
The shift toward a more integrated and interdependent world economy.
Theory predicts that nations that are home to firms that gained a first mover advantage in certain products may have an advantage in the trade of those products.
New trade Theory
An economic system in which the government plans the allocation of resources, including determination of what foods and services should be produced and in what quantity.
The four determinants of competitive advantage of nations, as identified by Porter (1990): factor conditions; demand conditions; related and supporting industries; and firm strategy, structure, and rivalry.
are the cost advantages that enterprises obtain due to size, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output
Economies of scale.
is the advantage gained by the initial ("first-moving") significant occupant of a market segment
First mover advantage
The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area in which it was invented.
the Product life cycle theory
An economic system combining private and public enterprise.
The doctrine that actions are right if they are useful or for the benefit of a majority.