Operating abroad, especially in less-developed countries, creates dilemmas that lead to charges of serious ethical failings. Multinational corporations ( MN C s ) generally recognize a social responsibility and attempt to fulfill their responsibilities everywhere they are located. The major cause of occasional failures to act responsibly is not the lack of effort but the diversity of political and legal systems around the world and differences in economic development. Foreign operations give rise to challengesand also create opportunities for misconductthat simply do not exist for purely domestic enterprises. The main quandary facing all MNCs is deciding which standards to follow. Neither of the two extreme positions is satisfactory. The familiar adage When in Rome, do as the Romans do and the opposite, When in Rome or anywhere else, do as you would at home, are both inadequate guides. Instead, this chapter offers guidelines for developing special standards for the conduct of international business that can be applied to such matters as so-called sweatshops, foreign bribery, and human rights abuses. Ultimately, the solution to many of the ethical problems of international business lies in the development of international agreements and codes of ethics. As the guidelines for multinational corporations become more detailed and comprehensive, the need for special standards of international business may diminish, and business conduct may eventually be the same worldwide.

In approx. 20 sentences, how would you respond to someone who says that "transparency matters" in business dealings