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Global Business Environment

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Would you agree with Global Standards not American Standards regarding ethics in the global business environment? Elaborate your answer.

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The solution discusses one's point of view regarding Global Standards against American standards regarding ethics in the global business environment. References for more information are included.

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Would you agree with Global Standards not American Standards regarding ethics in the global business environment? Can you elaborate?

The ICFAI center for management research state that the global business environment can be defined as the environment in different sovereign countries, with factors exogenous to the home environment of the organization, influencing decision making on resource use and capabilities. This includes the social, political, economic, regulatory, tax, cultural, legal, and technological environments. Since the world is getting smaller and smaller with the impact of globalization, organizations must learn to adhere to global ethical standards as these firms have no control over the external environment and their success depends on how well they can adapt to the new environment. As the international environment changes, businesses must learn to maintain or gain a competitive advantage over the others. An example of this can be hiring staff from developing countries in order to spend lower labor costs. If business institutions want to stay in business and wish to capitalize on key social ...

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