Doing Business with Islamic Countries - Literature review Example

There are certain specific issues which are faced by multinational corporations (MNCs) while performing their business activities in Islamic countries. These issues or problems hamper mainly the business enterprises of western nations. Furthermore, MNCs have adopted certain strategies with the objective of conducting business operations effectively in Islamic countries. These strategies of business enterprises have assisted them in acquiring a better knowledge of culture as well as practices. Moreover, the acquired knowledge of the business environment has assisted business enterprises to perform business operations in accordance with Islamic countries’ principles as well as values.

A critical evaluation of the issues as well as factors has been performed with the intention of determining the various threats as well as opportunities that are available for MNCs to conduct business operations in Islamic countries in a successful and skillful manner. At last, a few recommendations are made with the motive of providing better opportunities for enterprises to perform their business operations effectively. In this context, with the incorporation of recommended features an enhanced development of industrial sectors, as well as the economic conditions of Islamic countries, can be attained.

Globalization has been a key constituent for spreading out of business activities of enterprises worldwide. This phenomenon has increased the reliance of countries on one another. It has been observed that this interdependence of countries has widened the world civilizations. Moreover, world civilizations have widened up due to the differences of cultures, ethics, social norms, and religions.