By Mohammad Naquib. R
The emergence of global and cross cultural market, the nature of business strategies has passed through a dynamic change. The cross cultural and global market, after the amalgamation of companies keeping in view of liberalised economic policy, has created a new brand of consumer, having a preferential attitude with a new set of consumer behaviour. For instance, strongest indigenous brand Thumps Up in the beverage company is taken over multinational Coca Cola. In the same way in the Middle East, Western Bakeries, Riyadh Laben, International Backing Services and Hadco has taken over by the Al-Marai Milk Company in Saudi Arabia.
The traditional business ethics and strategies hardly cater to the demand preference and attitude of the new consumer. Therefore, it needs to be understood why the incoming multinational companies are getting amalgamated with the indigenous ones. The traditional theories of business ethics has been badly affected by the new launching of inflow of multi-nationals i.e. indigenous market. Further, the existence of the indigenous market is threatened by the inflow of multinational companies. That the multinationals are selling indigenous buyers with new branded slogans keeping in view of the nature of change both strategy and advertisement is implied need to go for the readjustment for business ethics with the growing market strategy of advertisement.
The traditional theories of business ethics in the given global scenario no more cater to demands preferences market potential, therefore, what is importance to evolve a new system in which business ethics needs to be readjusted with growing strategies of advertisement and market polices. The present approach towards advertisement intends to such for a new business strategy in which business ethics can’t be kept static, rather it needs to more amend the changing trends and forms of business strategies.
The emerging market trends, forms, behaviour and preference can’t address unless business ethics is radical reviewed and changed. Furthermore, new emerging multinational market in which amalgamation is sharp and rapid has badly made traditional theories of ups and downs. That the traditional theories, business strategy are no more relevant in the present cross global market and you will have to take care of all those changes in arena of business ethics, strategies and mercurial changes in role advertisement. We will have to strict vigilant on the growing trends of emergence global market in view of the inflow of multinational so that business ethics could be accommodated and adjusted in the business strategies.
[Mohammad Naquibur Rahman, Ph.D, is Assistant Professor of Marketing in Umm Al-Qura University, Makkah Al–Mukarrmah, Saudi Arabia. He can be contacted at firstname.lastname@example.org]