business in emerging markets
Now that you have explored conducting business in emerging markets and several of its associated theories and approaches, reflect upon the reading from this week as well as the readings and articles from the first three weeks of the module. Integrate the knowledge from all four weeks as you address the following:
As the number of countries that are viable players in the global marketplace continues to rise, there has been an inevitable clash of cultural norms and standards. What is acceptable—even praised—in one country may be very offensive in another. Those conducting international business have realised the importance of becoming familiar with the cultures of those with whom they will be associated. Problems arise, however, when the behaviours that differ are based on ethical standards and beliefs.
In the Michaelson article in this week’s Resources, the author recalls asking a group of business executives from major U.S.-based multinationals “whether a change in the economic balance of power [from developed to emerging markets] might portend a change in ethical influence.”
1 How would you respond if this question was posed to you?
If you were a leader in an organisation that operates both in developed and emerging markets,
2 how could you create and maintain personal and organisational standards of business practice that are both ethical and moral?
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