The school of ethical relativism holds that
A. concepts of right and wrong as they apply to business behavior are always absolute and usually more stringent than universal ethical principles.
B. concepts of right and wrong are always governed by business norms in each country, culture, or society.
C. what constitutes ethical or unethical conduct should be determined by the religious convictions of each society or each culture within a country.
D. concepts of right and wrong are always a function of each individual's own set of values, beliefs, and ethical convictions.
E. when there are cross-country or cross-cultural differences in what is deemed ethical or unethical in business situations, it is appropriate for local moral standards to take precedence over what the ethical standards may be elsewhere.
Answer: E
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