ABSTRACT
This chapter examined business practices in developed markets as well as the critical issues that arise because of divergent, regulatory environments of emerging markets. The most common scenario one imagines in dealing with problems arising from ethics and compliance lapses in companies is that of companies entering developing markets and not imposing their culture. An examination of the complexities of emerging markets is incomplete without examining developed markets as well. Developed markets have comparatively stable economic growth and are considered high-income economies, particularly yielding high per capita income and gross domestic product rates. Developed and emerging markets also resist change because standardization conflicts with their local customs and traditional ways of conducting business. The influx of new and emerging markets, seemingly irrelevant in the past, is now spearheading the move towards a globalized and interconnected business system. Many of the issues that face both markets parallel each other or are inexorable processes.
