Question

The distinguishing feature of international business is that international firms operate in environments that are highly uncertain and where the rules of the game are often ambiguous, contradictory, and subject to rapid change, as compared to the domestic environment. It is crucial for businesses to understand these differences and find ways to hurdle the barriers these differences present in a socially responsible manner. TASK: Select any organization of your choice. Carry out a research on the following aspects and present it in the form of a Report in Word.

Examine how the ethical and socially responsible behavior is built in the management practices and business operations

Answer 1

Let us take the example of Xiomi, a Chinese technology company that produces hardware products such as smartphones to smart TVs and other such devices.

Xiomi's headquater is in China, however it operates in many different countries. The company's second largest market in terms of sales revenue, and volumes of product sold is India after its home market. Unfortunately China and India do not share a very friendly political and economic or trade relations. There are frequent skirmishes at the borders, or between leaders of the two countries. Many times, the government of India as well Chinese government have imposed various restrictions on the businesses and trade. Overall, we can say that the situation is volatile between both these countries.

When Xiomi arrived in India, it faced a very difficult task of building supply chains, ensuring local assembly of most of the products which required extensive investment in training employees as well as building the platforms for manufacturing of the products to reduce import dependence. Company's continuous focus on achieving targets of production, training of employees, and spending money for csr ( corporate social responsibility ) for right causes has enables the company to be a market leader in India with around 50% of market share.

The ethical and socially responsible behavior built by the company in the management practices and business operations has ensured the sucess of the firm in such a small period of time.