Key Terms
Enculturation
The process by which humans learn the rules, customs, skills, and values to participate in a society. Nobody is born wit
Acculturation
The cultural transmission and socialization process that results from cultural exchange. Different from enculturation be
Consumerism
A lifestyle defined by the acquisition of goods and services. Creates the problem of diminishing marginal utility — you
Globalization
The interconnection of domestic markets worldwide. Creates ethical challenges around labor standards, supply chains, and
Localization
Adapting a product or practice for a non-native culture or environment. Includes language translation, currency conversi
Mercantilism
The theory that global wealth is fixed; prosperity depends on extracting or accumulating wealth from others. Dominant fr
Moral agency
The self-awareness, freedom, and ability to make choices based on one's perception of right and wrong. The foundation of
Universal values
Ethical principles that apply everywhere despite differences in time, geography, and culture.
Humanistic business model
Treats employees as whole human beings. Supports professional training, health care, education, and family responsibilit
EXAMPLE
In the U.S., time is tied to speed and competition — "time is money." In some African and Middle Eastern cultures, relat
UN Global Compact
A voluntary initiative where CEOs commit to principles covering human rights, labor, the environment, and anticorruption
Protestant ethic
Frugality, hard work, industriousness, and simplicity. These values shaped the culture of entrepreneurship in Great Brit
Stewardship
An attitude toward money and capital that stresses care and responsibility rather than pure utility. Found across Judais
Absolute values
Prohibitions against cheating, fraud, lying, and murder. These are as close to universal as ethics gets.
Relative values
Contextual. The application and expression of values shift across time, geography, and culture — even when the underlyin