A company that adopts the principle of ethical relativism in providing guidance to company personnel Multiple Choice O po places itself in a perilous position if it is required to defend these activities to its stakeholders in countries with higher ethical expectations or standards because it has no ethical standards or principles of its own. bases its standards of what is ethical and what is unethical on the Global Code of Ethical Conduct first developed in 1935 and since subscribed to by the governments of 180 countries. allows each company employee to determine what set of ethical standards to observe Oo oo has no fair way to judge the ethical correctness of the conduct of company personnel O has a one-size-fits-all set of ethical standards.