The world of business is a fast paced environment and an exciting place to be where things are constantly changing. This includes one of the oldest and biggest parts of business, which is ethics. Every country throughout the world has a different perspective on how they handle business ethics and this is not talking about comparing a third world country to a first world country. This includes the top four largest emerging economies in the world, also known as the BRIC (Brazil, Russia, India and China). These countries do have a lot in common other than the fact that they are leading economic countries in the world. As much as they have in common with the way that they handle business, they all stem from different backgrounds with different ideas and perspectives on ethics.These similarities and differences over the years have been compared to other nations, such as the United States. This is very important because the United States is a leading country in the world of business but compared to the BRIC it is a very young country with a melting pot of people who come from different cultures. It’s important to remember in the world business that ethics plays an important role especially in the BRIC when it comes to their similarities and differences between themselves and also the United States and where it all stems from culturally. Similarities All four of the BRIC countries, as different as they are have one very big thing in common with each other, which is loyalty. All four of them come from cultural backgrounds which all take loyalty very seriously in day to day life and this quality that they all have seeps through into the way they handle business. In Brazil, they have a loyally system known as paternalism, which in their culture dates back to the royal Crown. Paternalism is their relationship they sustain between the bosses and their employees where the leaders of the business make their employees feel like they can count on them to be taken care of and in exchange the employees are loyal to their superiors and the business. In Russia, India and China they are known to rely less on legal business contracts and more on personal contracts that they make with one another on a level of respect and trust they have that each person will hold up their end of the bargain. They rely their business loyalty mostly on friendships and expecting that if you do a favor for someone the favor will one day equally be returned. As different as these countries can be culturally, they do however share the same level of cultural beliefs about loyalty. Differences Although these countries stem from similar roots of loyalty, they have differences in how ethics are portrayed in everyday business. Many of these ethical practices span from peace and harmony to disregard for personal property and high tolerances for corruption. In Russia they are holding true to their cultural backgrounds and they still show to be the least ethical out of four of the countries. They have a very low regard for other people's private property and a very high tolerance for corruption. They also keep a second set of books for their companies, one for mafia purposes and one for casual business purposes. In China and India, they are the opposite of their neighbors in Russia and use much more peaceful values. They do tend to have less formal business contracts and ethics and take everything in as it's own unique situation. In Brazil, they are the in between of the other three countries, starting to see more and more companies become more ethical but the number is still less than half. As of 2009 only 189 out of 500 of their top companies developed modern ethical behaviors. Even though all four of these countries are the top emerging economies in the world they all still portray ethics in very different ways. Cultural History Every country in the BRIC is a very old and culturally established country. Each of them have their own way of doing things that…
Number 1 . January 2010
r 2010 Northeastern Political Science Association 0032-3497/10 www.palgrave-journals.com/polity/
Brazil, the Entrepreneurial and Democratic BRIC*
Leslie Elliott Armijo Portland State University Sean W. Burges University of Ottawa
By most objective metrics, Brazil is the least imposing of the ‘‘BRICs countries’’— less populous than China and India, slower-growing in recent years than China, India, or Russia, and the only member of the group lacking nuclear weapons. We…
Ruff Royalty is a pet store and an indoor dog run with a speakeasy type lounge that serves alcoholic beverages. Ruff Royalty caters to the canine crowd that provides a luxurious social experience for dogs and their owners. The owners who treat their furry friends like their own children. Ruff Royalty does not discriminate by size, breed, or disability factor; this is a place where the outgoing, social mammals can get affiliated…
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The BRICs and the Washington
Consensus: An introduction
Cornel Ban & Mark Blyth
Boston University , Boston , Massachusetts , USA
Brown University , Providence , Rhode Island , USA
Published online: 15 Apr 2013.
To cite this article: Cornel Ban & Mark Blyth (2013) The BRICs and the Washington
Consensus: An introduction, Review of International Political Economy, 20:2, 241-255,
in the business environment. Generally speaking, external analysis involves PEST analysis. It can be used to analyse a firm’s current and future environment as part of the strategic management process (Worthington and Britton, 2006). The following essay will analyse the business environments including political environment, economic environment, society environment and technology environment in India and Brazil through four perspectives as well as being based on the analysis of discussing the impacts…
Mgmt3347 individual case study
TABLE OF CONTENTS
The essay is a strategic analysis for LEGO Group. LEGO Group is a famous toy company in the world, which established in Denmark. LEGO Brand is not only the familiar logo, but also the expectation. LEGO acts as a guarantee of quality and originality. LEGO’s core values are imagination, creativity, fun, learning, caring and quality. The essay will show strategic analysis by identifying the industry, analyzing general and industry…
every 5 of the globe’s people, annually grows its population and middle class how much and must create how many jobs? And so what if it educates members of both sexes?
pg. 26 Globe’s middle...Where is the middle class growing, how much, what is the BRIC and so what?
pg. 27 population growth...What have we just lived through, why and where?
pgs. 28 WHY IS...Where is the problem (especially 75%)and why?
INITIAL KEY DISTRIBUTION CHANNEL ISSUES
pg. 6 What kind... What is a distribution mix, how is it…
ECONOMIC DEVELOPMENT FIRST ASSIGNMENT
Essay: 30% of mark
Please write one essay of 1500 words that answers the following question:
Does Economic Growth lead to Poverty Alleviation? Please compare and contrast very briefly the experiences of China, India and Brazil. What lessons can an African country of your choice learn from these experiences?
STUDENT ID # 8734897
Since economic growth affects directly or indirectly the poverty in some…
You are required to submit an essay that provides a critical analysis (meaning looking at arguments both for and against and stating your reasoned position) of the following statement:
Michael Porter’s theory on National Competitive Advantage, is the best theory to utilize when an internationalising firm wants to select one country over another for new entry
The globalization has become a ubiquitous and potent symbol of the age since the early 1980s. The term globalization was used to describe…
well as technology more common in Russia.
Country Specific Factors and Internationalization decision
According to Wetherly and Otter (2014), Russia can be described as a “riddle, wrapped in a mystery, inside an enigma”. Russia belongs to the BRIC countries; this is an acronym that was proposed by Goldman (2003) to show the growing economies of Brazil, Russia, India and China. While Switzerland is considered as good economy for any firm, there are differences which exist between the two countries…
Bank, which was founded to finance the reconstruction of post war Europe. In 1947 the Havana Charter proposed a third regulatory institution, the International Trade Organization (ITO) that transformed into the World Trade Organization (WTO). This essay will critically evaluate the performance of the three Bretton Wood´s institutions, giving recommendations to operational changes for the IMF and the WTO, and argue to discontinue the WB as it operates currently.
The IMF was one of the key institutions…