Doing business globally brings many benefits and is essential to developing a company. However, at the same time, it comes with many risks and complexities, some related to differences in ethics and social responsibility. For this reason, collecting relevant information about the potential market and establishing ethical decision-making criteria is critical.
After a company has decided to enter new markets, the first step is gathering information. Entering new markets, especially in developing countries that are significantly different politically, culturally, ethically, and religiously, can carry serious risks. I would collect information about these aspects. The political situation in the country of the recipient determines not only censorship in marketing but may even prohibit certain types of goods or services. An example of such a constraint is the case of Google entering the Chinese market (Trevino & Nelson, 2021). Studying the country’s cultural features is important, as they do not always coincide with political norms.
It is essential to ensure that the company’s product or service meets the cultural requirements and interests of the country and, simultaneously, does not contradict government regulations. If these criteria differ significantly and the product requires significant adjustments, they must necessarily comply with corporate social responsibility and company ethics. If to enter the market of another country, there is a need to sacrifice these values ​​of the company, despite the potential profitability of such a market, the decision should be abandoned. The ethical and religious aspects of the recipient country should also be considered, as they greatly influence the specifics of decision-making, marketing, and other key activities. All this information will also be used to help make decisions.
Establishing criteria for decision-making in terms of ethics and social responsibility is essential. They must comply with the principles established in the company and, at the same time, not contradict the norms in the host country. I would apply the utilitarian approach to prioritization those solutions that produce the greatest good for the greatest number. At the same time, it is necessary to consider not only the people directly affected by this decision but also those indirectly affected by it. It is these criteria that are most important in the conditions of a new country, as they will create the right image, maintain corporate social responsibility and consider the interests of the maximum number of stakeholders – employees, new customers, society, and the government of the recipient country, while not forgetting about existing responsibilities.
References
Trevino, L. K., & Nelson, K. A. (2021). Managing Business Ethics: Straight Talk about How to Do It Right (8th ed.). Wiley Global Education US.