In cultural ethical relativism, what is deemed as ethical in one society may be deemed unethical in another society.
This means that diverse culture may view right and wrong in a different way because there are no common standards of morality that exists in the society; thus nobody has the right to judge other people’s cultural beliefs or their norms.
hiring an interpreter to mediate between them during a business transaction (Guffey, Rhodes & Rogin, 2008).
International business ethics refers to the standardized cord of ethics or norms that guides the conduct of transacting businesses in an international field.
In USA, bribes are considered unlawful, but in some parts of china they are part of the business process.
The market penetration may require breaking the law by giving some bribes.
Therefore, business leaders and executives should critically evaluate their business circumstances, especially for those involving specific cross-cultural situations, in order to avoid applying ethnocentrism, which may jeopardize the business transactions.
For instance, one of the parties to the business contract may pull away if he or she feels considered as a junior partner to the contract due to his or her culture or religion (Egger, 2008).
Ethical relativism is a similar practice to ethnocentrism whereby an individual tends to make ethical choices basing on what he or she feels is reasonable or right in accordance with an individual’s own value system or belief.
Globalization intensified the interaction of different cultures across the world.