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The Relativism Approach to international business states that the only guide for business conduct abroad is what is legally
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The relativism approach in international business is related to the culture of different countries. According to the relativism approach, there is no universal ‘right’ or ‘wrong based on the culture. Some practices are acceptable in some countries, which are not acceptable in other countries. In order to survive in the international business, organizations should follow the practices which are practiced in that society. In other words, businesses should follow the business conduct that is accepted in the host country.

Hence, the given statement is true.

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