Global Business - Local Laws

Paper Summary:

A paper which discusses the legal and ethical issues involved in operating globally. It is noticed that many multinational companies can run into trouble when establishing their businesses overseas because they fail to take local laws and culture into consideration. The paper shows that this can be avoided if the company pays attention to the religious and cultural beliefs of the people in foreign countries and also abide by the trade and business laws of those lands.

From the Paper:

"It is also important to take into account their religious beliefs because religion normally plays an important role in all third world countries. For example in Pakistan, they wouldn't allow a fast food chain to operate if it doesn't use HALAL meat. By HALAL, they are simply referring to meat, which has been prepared according to their religious rituals. It is important thus to follow those practices because there is no chance of gaining any success if a fast food or any other restaurant chain forgets to take into account this important law. We are taking examples of restaurants only for the sake of ease and convenience in explanation of laws, but it must be kept in mind that laws applies to every business no matter what its nature is."

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