Emerging Economies and BRICS
Globalization efforts may reveal or intensify ethical differences and ethical conflicts for organizations. The variety of cultures in different countries creates challenges to be overcome by those that want to expand their operations into new markets. Consider for example, the challenges McDonald’s faced when the corporation decided to enter the Indian market, in which the culture reveres the cow as a sacred animal. Situations like that may cause you to ask: Why go abroad? The answer is simple—that is where the consumers are. Currently, the emerging economies together represent a percentage of the world’s consumer market that is bigger than the US and European Union markets combined. Countries like the BRICs (Brazil, Russia, India, and China, also sometimes South Africa) and others like Mexico and South Korea have increased their importance in the global marketplace and are considered target audiences for many multinational enterprises from different industries.
Using University online library resources and the readings for this module, research emerging economies. You can also research these countries using the Central Intelligence Agency (CIA) World Factbook (available online for free athttps://www.cia.gov/library/publications/the-world-factbook/). The website provides comprehensive information about demographics and economic trends and is a starting point for getting an initial overview of the chosen country. However, be sure to complement the information with scholarly articles and business websites.
Based on your research, choose one of those markets and identify a minimum of three additional scholarly sources to support your response to the following:
- Identify what you think are the greatest advantages of that region and the greatest drawbacks that could hold it back from becoming a good market for expanding business. Justify your claims by citing research and providing specific examples.
- Compare and contrast your insights with the findings of your peers in your responses.
Give reasons in support of your responses. Be sure to cite any relevant resources.
Write your initial response in 500 words. Your response should be thorough and address all components of the discussion question in detail; include citations of all sources, where needed, according to the APA style; and demonstrate accurate spelling, grammar, and punctuation.