According to the ethical relativism school of thought, whether the payment of bribes/kickbacks is ethically acceptable or not hinges upon the ethical standards that each industry establishes for its member businesses. O if the payment of bribes/kickbacks is legal in a particular country, then it is ethical for a company to pay bribes/kickbacks in conducting its business activities in that country, no matter what the legality of paying bribes/kickbacks happens to be in other countries. businesses have the flexibility to set their own standards for deciding whether the payment of bribes/kickbacks is ethically acceptable or not. because local ethical standards take precedence over ethical standards elsewhere, then if the payment of bribes/kickbacks is acceptable in a particular country, it is ethically acceptable for a company to pay bribes/kickbacks in conducting its business activities in that country. it is very clear that the payment of bribes and kickbacks is ethically impermissible even in those countries and situations where it is the local custom to engage in such payments