This approach is often summarized by the maxim "when in Rome do as Romans do"

It refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions.

These are abstract ideas about what a group believes to be good, right, and desirable.

Its approach to ethics hold that the moral worth of actions or practices is determined by their consequences.

This theory is attributed to philosopher John Rawls.

It enables the managers to walk away from a decision that is profitable, but unethical.

They are situations in which none of the available alternatives seems ethically acceptable.

The social rules and guidelines that prescribe appropriate behaviour in particular situations.

This approach was raise to primarily demonstrate that they offer inappropriate guidelines for ethical decision making in a multinational enterprise.

Kantian ethics are based on the philosophy of Immanuel Kant.

Ethical strategy are the accepted principles of right or wrong governing the conduct of business people.

Our organizational culture exerts a profound influence on the way we behave as businesspeople.

Just as societies have cultures, so do business organizations.

Friedman states that the businesses should behave in an ethical manner and not engage in deception and fraud.