As the number of countries that are viable players in the global marketplace continues to rise, an inevitable clash of cultural norms and standards has occurred. 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 associate. It becomes more problematic when the behaviours that differ are based on ethical standards and beliefs.

In the Michaelson (2010) article in this week’s Learning 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’.

You are required to evaluate the changing dynamics of global business. You will also critically assess the process of establishing ethical standards to avoid corruption and support corporate social responsibility when doing business in emerging markets.

To prepare for this Individual Assignment:
• Read the Michaelson article in this week’s Learning Resources.
• Consider the changing dynamics of global business.
• Supplement your observations with some original secondary-sourced references drawn from the Academic writings or other reliable sources.

In approximately 1,000 words, complete the following:

• Evaluate the changing dynamics of global business from developed to developing nations. Consider the impact changes have had on ethical standards.

• Critically assess the process of establishing ethical standards to avoid corruption and support corporate social responsibility when doing business in emerging markets.

• Provide a properly formatted references list.

•
In formulating your analyses, consider the following questions:
• ‘When moral business conduct standards conflict across borders, whose standards should prevail?’ (Michaelson, 2010): 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, how could you create and maintain personal and organisational standards of business practice that are both ethical and moral?