The underlying thesis of ethical relativism does not imply that

there are few absolutes when it comes to business ethics and thus few ethical absolutes for consistently judging a company's conduct in various countries and markets.

according to the ethical relativism school of thinking, a "one$-$size$-$fits$-$all" template for judging the ethical appropriateness of business actions and the behaviors of company personnel does not exist.

in a multinational company, application of ethical relativism equates to multiple sets of ethical standards.

when there are cross$-$country or cross$-$cultural differences in ethical standards, it is appropriate for ethical standards in a company's home market to take precedence over what the local ethical standards may be$.$

a company that adopts the principle of ethical relativism and holds company personnel to local ethical standards necessarily assumes that what prevails as local morality is an adequate guide to ethical behavior.