International Business Practice Research Articles

The Role of Ethics in Business Decision Making: A Study of Moral Philosophy in the Context of Economic Globalization

This study explores the critical role of ethics in business decision-making within the framework of moral philosophy, focusing on the challenges posed by economic globalization. Employing a qualitative approach through literature review and library research, the article delves into the integration of ethical considerations in corporate strategies to address the multifaceted dilemmas that arise in a globalized economy. The research highlights how moral philosophy provides a foundational framework for evaluating business practices, ensuring alignment with universal ethical principles while accommodating cultural diversity. Key themes include the impact of utilitarianism, deontology, and virtue ethics in shaping corporate policies, particularly in navigating complex global trade environments and stakeholder expectations. Findings suggest that ethical decision-making fosters trust, promotes long-term sustainability, and mitigates risks associated with unethical practices, such as reputational damage and legal penalties. The study underscores the importance of embedding ethical frameworks into corporate governance structures to address evolving challenges like labor exploitation, environmental degradation, and socio-economic inequality. Additionally, it emphasizes the role of ethical leadership in cultivating organizational cultures that prioritize integrity and accountability. The article concludes by advocating for interdisciplinary approaches combining ethics, economics, and sociology to refine decision-making frameworks suited to a globalized world. By integrating theoretical insights and practical implications, this study contributes to advancing the discourse on ethics in international business practices.

The Impact of Global Economic Policy on Corporate Internationalization Pathways: A Comprehensive Analysis of Trade Agreements, Exchange Rate Fluctuations, and Import-Export Restrictions

This article outlines the effects of global economic policy on corporate internationalization, with an emphasis on trade agreements, exchange rates and import-export controls. In using a representative sample of MNCs in multiple industries, this paper employs a quantitative framework to investigate how such policy considerations influence firms market entry decisions and use of resources. Findings show that trade agreements tend to make it extremely tempting for firms to use high-capital entry channels like FDI, by minimising tariffs and standardizing rules. Conversely, exchange rate volatility pushes firms towards low-capital activities such as exports in order to offset currency risks. Additionally, strict import-export regulations force firms to respond by manufacturing in-house or domestically sourcing inputs, thereby altering competitive positioning. These studies offer useful insight into the complicated connection between global economic policy and international business practices and the need for flexible financial models to deal with changing policy environments.

Ethical Ramifications of the Dark Side of Business Practices in the International Business Area

ABSTRACTThe dark side of international business practices has attracted significant research attention recently. However, researchers are struggling to delve into the ethical ramifications of these practices because of a limited understanding of ethical and digital transformation issues in international business, which may be caused, inter alia, by sociocultural and market disparities, lack of regulatory frameworks, information asymmetries, data ubiquity, and power imbalance among key stakeholders. This paper addresses this important gap through four key themes—ethical considerations, data processing issues, legal considerations, and managerial contingencies. We discuss how to step forward in research on ethics in international business, assessing potential risks associated with privacy concerns, big data, cybersecurity, content analysis, stakeholder relationships, and discriminatory outcomes. Finally, we propose a research agenda and recommendations to address the ethical challenges and dilemmas international businesses face due to disruptive technologies (e.g., artificial intelligence) and cross‐market challenges (e.g., legal jurisdictions).

Identificación de herramientas de internacionalización del currículo implementadas en las instituciones de educación superior

The purpose of the article is to reflect and analyze the concept and tools of internationalization of the curriculum in higher education. The defined methodology was based on a systematic review of the literature of some pioneering texts, specialized publications and institutional repositories, based on defined search descriptors. This review constitutes an opportunity to systematize the tools used for the internationalization of the curriculum in higher education institutions and investigate how these contribute to the quality of their substantive functions. Among the findings, we can highlight the identification of the dimensions of the internationalization of the curriculum, the participation and responsibilities of teachers, students and administrators, the tools used by institutions for the insertion of the curriculum and their actors in global environments. The comparability of studies between institutions, virtual education, academic committees, international collaborative learning and business practices in international environments stand out among the most used tools. The internationalization of the curriculum is recognized as a characteristic of the quality of higher education institutions.

The seven ‘C’s of strategic pricing in international markets

This paper introduces a conceptual framework addressing the complexities of pricing strategies in international markets, focusing on pivotal elements such as customer value, the impact of technological advancements, and the harmonisation of global and local strategies. An examination of existing literature and diverse pricing models reveals how the interplay between digitisation and global market dynamics necessitates innovative pricing approaches. These approaches must navigate specific challenges, including the accessibility of digital goods and the intricacies of information preservation costs. Emphasising the importance of distinguishing a company’s offerings from its competitors, the framework advocates for tailored distribution strategies that meet local market needs while maintaining global standards, alongside compliance with international legal pricing frameworks. The framework elaborates on the critical role of deep customer understanding and strategic branding in significantly boosting a company’s profitability and enhancing customer satisfaction across various geographical markets. It further integrates contemporary insights on the agility and adaptability required in pricing strategies amid market fluctuations, the application of behavioural economics principles in pricing, and the strategic employment of analytics to refine pricing decisions. Highlighting the dynamic nature of pricing that accommodates cultural sensitivities, the framework encourages innovation and a careful balance between widespread market reach and localised relevance. Offering strategic insights, this conceptual exploration aids businesses in navigating the intricacies of pricing within the digital era and the expanding global marketplace. It underscores the substantial benefits for business practitioners, including enhanced clarity in pricing decisions, facilitation of competitive differentiation, and alignment with broad business objectives. For marketers aiming to engage with the multicultural consumer markets of the 21st century, this framework serves as a crucial tool, elevating cultural comprehension and promoting product innovation tailored to diverse consumer groups. The paper concludes by emphasising the broader implications for international business practices, advocating for a strategic blend of scalability and customisation to achieve sustainable growth in the global economy.

Strategy planning and business performance: the moderating roles of market sensing and tolerance for failure

PurposeThis study aims to examine the relevance of strategic marketing planning in this agile era and its effect on firms’ international performance and explores conditions under which the influence of planning changes.Design/methodology/approachBased on contingency theory, a conceptual model is tested based on survey data from internationalizing firms. Data were analyzed using partial least squares -structural equation modeling.FindingsMarketing strategy planning is (still) associated with enhanced performance, and depends on external and internal contingencies. While the planning−performance relationship is amplified by market sensing (external contingency), surprisingly, it is decreased in presence of high tolerance for failure (internal contingency).Practical implicationsFindings seek to transform marketing planning in international business practice by requiring that its implementation receives the attention of senior management.Originality/valueMarketing strategy planning should not be deemphasized. While planning appears to be undergoing an identity crisis, practitioners’ attention to marketing planning is warranted.

Artificial intelligence in international business

AbstractArtificial intelligence is poised to transform international business through the adoption of new digital technology practices as part of the fourth industrial revolution. The how, when, and why of artificial intelligence implementation in international business is still somewhat unknown but will likely significantly influence performance outcomes, market interpretation, risk prediction, consumer interactions, and technology‐based metrics. With greater emphasis on artificial intelligence‐based tools, the future practice of international business will require digital literacy. This means business managers need to improve the way they analyze artificial intelligence in terms of appreciating its usefulness while maintaining privacy and mitigation strategies. In this editorial, we discuss the current developments regarding artificial intelligence in international business with the goal of identifying future research areas of importance.

Artificial intelligence for international business: Its use, challenges, and suggestions for future research and practice

AbstractThe emergence of artificial intelligence (AI) has transformed global business, aiding operational efficiency and innovation. It utilizes machine learning and big data analytics, driving predictive market trends and strategic decision‐making. However, despite the rising discussion and accessibility of AI tools, understanding its impact on international business remains limited. This article explores AI's potential in international business strategies, practices, and activities. To address this aim, we reviewed 37 articles in the existing literature to critically explore AI within the context of international business. More specifically, we explored how AI can be applied to innovation approaches in international business, international market selection, entry modes, foreign exchange, international human resource management, international supply chains, managing across cultures, and more topics. AI has necessitated changes in workplace configurations and the need for organizational and employee adjustments in response to this technology. As a result of the foregoing issues on AI integration within international business, our analysis provided an exploratory discussion around its use, challenges, managerial implications, and suggested areas requiring future studies.

МІЖНАРОДНИЙ БІЗНЕС В УМОВАХ ТУРБУЛЕНТНОСТІ ГЛОБАЛЬНОЇ ЕКОНОМІКИ

The article is devoted to the study of trends in the evolutionary changes of international business in the context of global economic turbulence. It is established that the global economy is currently at the stage of turbulent fluctuations, the factors and at the same time the results of which are the strengthening of new features that are almost polar to the attributes of the economy of the past decade. The turbulence of the global economy provokes relevant trends in the development of international business: a decrease in the rate of scaling of the international companies activities; comprehensive digitization of business processes; reformatting of global chains of value formation in terms of length, fragmentation and localization; strengthening cyber security and information protection in order to minimize financial and reputational risks; the growth of e-commerce; multichannel communications with consumers; increasing the social responsibility of international companies and increasing investments in sustainable development; increasing the value of human capital and permanent modernization of the international companies HR management. Artificial intelligence and human creative capital are becoming the identifying carrier of globalization changes, which is a source of innovative efficiency of international business processes and a critical factor for sustainable development. This stimulates a steady increase of investment in the development of artificial intelligence and its implementation in international business practices. Artificial intelligence has become a factor in the development of traditional economic sectors and a driver of the creative economy as a new global phenomenon. It is established that the growth of the creative economy is characterized by the disparity between countries with different levels of development in international trade in goods and services of creative industries: a clear dominance of developed countries in the services segment and a dynamic increase in the contribution of developing countries in the segment of creative goods. On a global scale, artificial intelligence is not limited to international business and is being actively integrated into the process of developing and implementing sustainable development strategies.

Exploring the Impact of Organizational Culture on International Business Practices : A Study of Training in U.S. Multinational Companies Established in Hungary

The idea of business culture is fundamentally connected to societal business practices within a specific cultural environment(Wangchuk et al., 2020). Organizational culture can be definedas the collection of core beliefs and assumptions formulated, discovered, or developed by a group addressing external and internal challenges (Schein, 1992).A well-established connection exists between the culture within an organization and its performance outcomes, with a wealth of research supporting a positive linkage(Ouchi, 1981; Kotter and Heskett, 1992).This study looks at how the work culture in American companies affects the way they manage their employees, especially in their offices in Hungary and how HR practices in American multinational companies adapt to and influence training and development in a Hungarian context.In today's world, understanding and working with different cultures is very important for international business (Twose, 2019). This paper explores how the typical values and ways of doing things in American culture affect the training and growth of employees in other countries.Through qualitative interviews with HR professionals, the study identifies three pivotal training themes: Competency Development, On-the-job Training, and Innovation in Learning. These themes highlight a commitment to continuous skill enhancement, practical learning experiences, and progressive educational practices, aligning with American cultural valuesof individualism and innovation. The findings articulate how such cultural traits are translated into HR practices, emphasizing the interdependencebetween individual professional growth and broader organizational objectives. This research enriches the understanding of transnational cultural impacts on corporate training strategies, offering insights for global HR management and the successful navigation ofcross-cultural business landscapes.

A CROSS-CULTURAL EXAMINATION OF CORPORATE SOCIAL RESPONSIBILITY FRAMEWORKS: CONTRASTING PARADIGMS IN CHINA AND THE WEST

Purpose: This study explores the unique characteristics of Corporate Social Responsibility (CSR) in China, contrasting them with Western CSR frameworks to provide a comprehensive understanding of China's distinct approach to CSR. Design/methodology/approach: The research utilizes a cross-cultural examination of CSR practices, drawing on empirical data and literature to identify key dimensions unique to Chinese CSR. It incorporates qualitative analysis of CSR reports and stakeholder interviews to highlight the socio-cultural, economic, and regulatory factors influencing CSR in China. Findings: The study identifies several unique dimensions of CSR in China, including good faith, employment, social stability and progress, and patriotism. These dimensions reflect China's cultural values, historical context, and governmental influence. Chinese CSR practices emphasize business ethics, job creation, social harmony, and national development, differing significantly from the profit-driven and shareholder-focused CSR models prevalent in the West. Research limitations/implications: The study's findings are based on data from specific regions and may not be universally applicable across all of China. Further research is needed to explore CSR practices in different types of Chinese firms and regions to validate these dimensions. Practical implications: For multinational corporations operating in China, understanding these unique CSR dimensions can enhance their engagement strategies, aligning their practices with local expectations and regulatory requirements. Social implications: The study highlights the role of CSR in addressing social issues in China, such as employment and social stability, providing insights into how corporations can contribute to societal well-being in a rapidly developing economy. Originality/value: This research contributes to the global discourse on CSR by elucidating the distinctive characteristics of Chinese CSR. It underscores the importance of localized approaches to CSR, enhancing cross-cultural understanding and fostering more effective international business practices.

МАЙБУТНЄ ТРУДОВОЇ МІГРАЦІЇ В ЄС: ПРОГНОЗИ ДЛЯ МІЖНАРОДНОГО БІЗНЕСУ

The article examines the dynamics of labour migration in the European Union (EU) and its future prospects. This topic is relevant, against the backdrop of changes taking place in the European Union and developing countries, which necessitates the need to re-learn this nutrition. The dual nature of labor migration is highlighted: it facilitates the influx of skilled workers into countries facing labor shortages, it also offers people from nations with high unemployment rates a chance to enhance their economic prospects. However, contemporary labor migration encounters challenges and opportunities, primarily influenced by globalization, technological advancements, and demographic shifts. The relevance of this scholarly work is based on its comprehensive analysis of current research and forecasts regarding the future of labor migration in the EU and its implications for international business. The aim is to explain unresolved issues through providing recommendations for businesses. A review of existing literature let us know that the subject of labor migration has been actively examined over recent decades. Particularly, in the context of EU expansion and the impact of economic crises. The focus is placed also on demographic changes, aging populations, and the necessity of filling labor market gaps through migration. This article explores the socio-economic aspects of labor migration, emphasizing the critical role migrants play in economic growth amidst crises, as highlighted by OECD reports during the COVID-19 pandemic. It also gives information about challenges related to social integration, including language barriers and legal employment issues. These accusations have not yet been able to completely solve this problem, and they are still facing new and new nuances. This article provides insights into the future of labor migration in the European Union, focusing on potential strategic changes in international business practices to exploit the opportunities and address the challenges associated with this complex phenomenon. The better European countries solve the described problems, the better it will be for them and for migrants.

The Impact of Sustainable Trade Practices on Economic Transformation in Saudi Arabia: Lessons for Developing Economies

The trade practices in Saudi Arabia include farming, date exports, and trade generated by pilgrims. There was less economic growth. However, the oil exports and earnings from the oil sector generated funds for economic development, which helped international trade to flourish in the Kingdom of Saudi Arabia (KSA). The present study sheds light on the economic transformation of the KSA due to its sustainable trade practices. A qualitative methodology approach of the resource-based view was carried out in the international context. The present study discussed KSA’s initiatives to boost international business, including the Future Investment Initiative and the creation of small and medium-sized enterprises (SMEs). The study will evaluate the international business practices and economic transformation in KSA. This study will present the Saudi business environment and the government’s contribution to the country’s economic transformation.

Leveraging foreign diversification to build firm resilience: A conditional process perspective

Foreign diversification is crucial for risk management, but its role in building resilient international firms is underexplored. This research combines the organizational information processing theory with international business literature to examine how and when foreign diversification relates to firm resilience in the context of SME exporters. The study suggests that while foreign diversification may contribute to firm resilience, foreign market scanning mediates this effect under varying supply chain disruption conditions. An analysis of primary data from 272 SME exporters in Ghana reveals that foreign diversification alone does not explain firm resilience. Instead, the results support the arguments that foreign market scanning positively mediates the foreign diversification – firm resilience relationship, and that this indirect relationship is stronger in highly disruptive supply chain environments. Implications of these findings for international business research and practice are discussed.

The Impact of Multi-Culture on International Business


 
 
 
 Migration of populations from various backgrounds and cultures is an important feature of globalisation and the development of global society. Migration, free labour movement, and the cultural diversity they generate have all become significant components of current global economic theory and demographic growth. They stress the importance of coexistence and collaboration among different ethnicities, countries, and cultures. As many Western cultures experience declining working-age populations, the solution appears to be in the hiring of immigrants and foreigners. However, this results in a clash of cultures, beliefs, and fundamental societal ideals. It is consequently critical to recognise and grasp the nuances that exist in multicultural corporate environments, as well as to benefit from the managerial techniques that emerge in those environments. Multicultural and diversity management can thus become a useful instrument for boosting the efficacy of international business practices and, as a result, become more widely adopted.
 
 
 

Supply Chains in International Business Practices: Legal Characteristics

Over two thirds of world trade and production is carried out by multinational corporations and takes place in cross-border supply chains (global value chains). This figure reflects the scale and vastness of the geography of distribution of such systems. Global (cross-border) supply chains have attracted close attention from business and political circles, academic economists and sociologists. However, legal scholars have remained aloof from such debates. The paper is the first to integrate the concept of cross-border supply chains (global value chains) into domestic legal science. From a legal point of view, the supply chain is a multi-level (modular) system of contracts subordinated to a single goal and designed to centralize, organize and coordinate the management of the flow of production, supplies and services in the international business environment. An important feature of such contractual systems is their role as an intermediary in the dissemination of foreign legal norms, norms of non-state regulation, private standards and in the legitimization of socially significant attitudes.

Local, yet global: Implications of caste for MNEs and international business

Caste is an informal institution that influences socioeconomic action in many contexts. It is becoming increasingly evident that international business research, practice, and policy need to programmatically address caste. To facilitate this endeavor, we review the limited research in IB that has addressed caste, and theorize caste as a distinct informal institution by distinguishing it from other systems of stratification like race, class, and gender. In addition, we propose a parsimonious framework to highlight the implications of caste for Indian and non-Indian MNEs in their Indian and global operations. In doing this, we focus on implications with respect to the internal organization and inter-organizational relationships of MNEs, and consider how these implications might differ as based on the MNEs’ organizational forms. We then build on these implications to discuss how MNEs and other stakeholders of international business can address caste inequalities via policies related to human rights, anti-racism, and affirmative action. By bridging theory, practice, and policy, we pave the way for MNEs to address global inequalities that relate to caste.

Bank Guarantees in the Czech Republic

The article is focused on the legal regulation of bank guarantees in the Czech Republic. Bank guarantees have a significant benefit for conducting foreign trade. Although the legal regulation in the Civil Code is relatively new, it follows on from earlier laws and international business practices. The article points out some specifics of Czech legal regulation and important court case law.

ЗАБЕЗПЕЧЕННЯ ДІДЖИТАЛІЗАЦІЇ БІЗНЕС-ПРОЦЕСІВ ПІДПРИЄМСТВ У СФЕРІ МІЖНАРОДНОГО БІЗНЕСУ

In the innovation economy, organizations seek to integrate digital technologies into all aspects of business, with a digital transformation strategy that encompasses digitization, modernization and change management being key. In today's world, where technologies are rapidly developing, digitalization is one of the key success factors and is the process of implementing and using digital technologies to automate, optimize, and improve business processes. The relevance of the mentioned topic made it necessary to consider the practical possibilities of implementing digitization in the business model, which will allow creating new innovative management models to achieve business success. The article presents the results of research on the importance of using digital transformation to integrate technological tools into international business practice. Recommendations have been developed for implementing business models and providing them with new opportunities in order to generate profit and create additional value in the conditions of globalization and technical progress. It has been proven that a multinational firm, which only unites a set of national enterprises under a global company, has become an anachronism. Instead, large multinational corporations are creating globally integrated organizations that can locate their functions anywhere in the world to take advantage of low costs, the availability of skills or access to local natural resources in the context of digitizing process management. The advantages and challenges of digital transformation are indicated and analyzed, key factors and methods of organization that can ensure successful digitalization of business processes are determined. A study of the possibilities of implementing digitization was conducted using the examples of modern international companies. State-of-the-art digitization services for analysis and optimization of the enterprise's work have been identified. Recommendations for the implementation of digitalization in business processes have been developed, which can be implemented in both international and domestic business. For the implementation of digitalization, it is proposed to define a set of priority tools for the restoration of economic growth, based on the paradigms of the digital economy, taking into account international experience and domestic specifics, which can act as a powerful multiplier of the company's resources.

Opportunities and Risks of Digitization for Labor Market Subjects

Digital transformation has changed consumer expectations and behavior, putting great pressure on organizations and multiple markets. The article examines the impact of digitalization on employment in the world, provides information on the nature of the impact of digitalization shifts, provides examples of professions that will be the first to suffer from an increase or decrease in demand, and identifies new needs for competencies. Increased attention in the work is given to the importance of digital transformation for the integration of technological tools in international business practice and strategy, as well as the obstacles that arise during the implementation of digital new technologies. It is noted that in order to improve the quality of management decision-making in the conditions of digital transformation, ways of obtaining a sustainable competitive advantage must be determined, taking into account international experience and available resources, consistency with new strategies aimed at growth and entering new markets, this implies significant changes in internal organizational structure of enterprises and organizations. Remote work from non-traditional forms of employment has turned into a traditional form of organizing the labor process and interaction in organizations. With the stabilization of the situation in Ukraine and the elimination of the influence of the negative factors of the external environment, it is impossible to refuse remote work, many companies have already made the hybrid work model permanent. Industries such as food processing, retail, and construction show the lowest rates of remote staff employment. Among the main threats of digital transformations, the decrease in social protection of employees is mentioned. The emergence of new types of jobs and working conditions contributes to the growth of the number of self-employed people who are not ready to enter into a dialogue with the employer regarding their social protection. The responsibility for social protection of the employee in new work models is transferred to him, while society is not yet ready for such changes. Eliminating or minimizing the disadvantages of remote forms of work needs to be taken into account in the development strategies of every organization and enterprise.