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Lack of research about the economy, politics, legal and culture of a new market can hurt, even destroy, international business plans. For example, after ten years of struggling in Germany, Walmart exited in 2007. One of Walmart’s errors was to ignore the cultural differences between the United States and Germany. The organization failed to change the types of products it offered or how they were displayed to match the preferences of German consumers. (Hill and McKaig, Edition 4th)

You have been hired as the new CEO of Walmart Germany to explore the business opportunities in that country once more and this time, based on conducting an international market research and collecting market intelligence.

Ethical Systems

Business ethics are not laws; they arise from an organization’s rules, norms and laws. Internally, when agreed upon or used as a screening tool for potential employees, ethics provide a foundation of the shared values and acceptable behavior that establish the organization as a group of individuals working toward shared goals. Externally, business ethics can guide corporations or firms through when dealing with investors, media, communities, customers, and the government, either locally or internationally.

As the new CEO of Walmart Germany, recommend three new important subjects that should be included in a code of ethics for your business operation in the country.