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Integration paper - Assignment Example

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Without an iota of doubt, all these concepts and theories have come to add to my existing knowledge to make them more refined and consolidated. There are several new…
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Download file to see previous pages Even though each of the concepts and theories learnt can be testified as transforming my learning in a very tremendous way, two concepts and theories I believe will continue to impact my corporate knowledge about emerging markets forever are the concepts on legal and ethical practices in emerging markets, and the ways in which local emerging businesses can effectively compete with multinational companies. These two concepts and theories are selected generally because they are transcending to both multinational companies and local companies.
While learning about legal and ethical practice in emerging markets, I came to appreciate the kind of power and authority that the consumer in these emerging markets have as far as the command that they can have on the market is concerned. This is because for all this while, I thought that because most multinational companies that went to these emerging markets were from developed countries, they would go and influence the local people directly with their foreign ethics and culture. However, I have now come to appreciate the fact that culture and ethics are important concepts that establish the identities of people and so local consumers would not just allow the influx of foreign and strange ethics and legal practices to overtake what they have practiced for long. For multinational companies that are poised for success, the essential role that they can play is to admit a sense of readiness to comply by local ethical and legal standards. This is because with the ethical and legal inclination that the local people have, they form a social hub, which is not easy to penetrate or break apart. Multinational companies must therefore see themselves as part of social network, where they are the ones who have to comply with set standards.
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