There are two primary ways you could expand your business with franchising. The first way is to buy an existing business or franchise. This option tends to cost more upfront, but can be less risky than trying to start from scratch. The second way is to build your own franchise.

A new market entry may easily costs you 100,000 USD in investments, let alone the working capital.

There are a variety of ways in which a company can enter a foreign market. Direct exporting may be the most appropriate strategy in one market while in another you may need to set up a joint venture and in another you may well license your manufacturing. …

When pondering if international expansion is right for you, consider these four factors:

• Culture. The cultural difference can determine whether the business is successful or not.
• Legal and regulatory barriers.
• Foreign government consideration.
• Business case.

When entering a foreign market, the least risky strategy is exporting Brands can be extremely valuable domestically, but challenging internationally. Companies can help to overcome language difficulties in using brands by developing brand names that are meaningless in known languages.

However, doing business in other countries presents US companies with ethical issues to face before opening a foreign operation.

• Outsourcing Production Jobs.
• Working Conditions and Standards.
• Bribery and Corruption.
• Gifts and Favors.
• Human Rights Issues.
• The Role of Religion.
• The Impact on the Environment.

Some of the most common ethical issues in international business include outsourcing, working standards and conditions, workplace diversity and equal opportunity, child labor, trust and integrity, supervisory oversight, human rights, religion, the political arena, the environment, bribery and corruption.

Going Global: 6 Factors to Consider

• Time Zones. Working across time zones can pose challenges when trying to schedule meetings or reviews.
• Language.
• Culture.
• Legalities.
• Payment.
• Communication.

The most ethical way of doing business internationally is to become culturally sensitive. The companies have to adopt to the culture of host country so as to cater to the specific needs of local customers. They should not try to impose the culture of their home country in the host country market.

Some of the most common ethical issues organizations encounter globally include outsourcing, working standards and conditions, workplace diversity and equal opportunity, child labor, trust and integrity, supervisory oversight, human rights, religion, the political arena, the environment, bribery, and corruption.

5 tips to overcome barriers to international business growth

• 1 – Harnessing local market expertise. Moving into a new market requires local knowledge.
• 2 – Cultivating partnerships in the region.
• 3 – Navigating new legislation.
• 4 – Managing expectations.
• 5 – Cross-border knowledge sharing.

Creating a code of ethics and/or a code of conduct is not required by law. However, these documents help improve company culture. While writing your code of ethics or code of conduct, make the language clear and concise. You should include examples to help strengthen the rules.

A code of ethics is important because it clearly lays out the rules for behavior and provides the groundwork for a preemptive warning. Regardless of size, businesses count on their management staff to set a standard of ethical conduct for other employees to follow.

Four Branches of Ethics

• Descriptive Ethics.
• Normative Ethics.
• Meta Ethics.
• Applied Ethics.

Honesty, caring and compassion, integrity, and personal responsibility are values that can help you behave ethically when faced with ethical dilemmas in your personal life. The following illustrates the application of these values and ethical reasoning in real life issues and issues you may face personally.

• 2.1 Major Ethical Systems.
• 2.2 Utilitarian Ethics.
• 2.3 Deontology.
• 2.4 Virtue Ethics.
• 2.5 Ethics of Care.
• 2.6 Egoism.
• 2.7 Religion or Divine Command Theory.
• 2.8 Natural Law.

There exist six vital ethical principles: antinomianism, situationism, generalism, unqualified absolutism, conflicting absolutism, and graded absolutism. All of them are connected through their ethical nature and differ in their approach to a human nature.

The normative ethical theories that are briefly covered in this chapter are:

• Utilitarianism.
• Deontology.
• Virtue ethics.
• Ethics of care.
• Egoism.
• Religion or divine command theory.
• Natural Law.
• Social contract theory.

2 There are six major ethical systems: antinomianism, situationism, generalism, unqualified absolutism, conflicting absolutism, and graded absolutism. Each has its own tenets/beliefs and its own set of problems.

Utilitarianism

The Golden Rule is great (the idea that you should treat others as you would like them to treat you), but it disregards moral autonomy and leaves no room for the imposition of justice (such as jailing criminals), and can even be used to justify oppression. …

‘ The following chapters analyse the answers provided by eight different theories of ethics: egoism, hedonism, naturalism and virtue theory, existentialism, Kantianism, utilitarianism, contractualism and religion.

Here, we take a brief look at (1) utilitarianism, (2) deontology, (3) social justice and social contract theory, and (4) virtue theory.

Five Basic Approaches to Ethical Decision-Making

• The Rights Approach.
• The Utilitarian Approach.
• The Virtue Approach.
• The Fairness (or Justice) Approach.
• The Common Good Approach.
• The Utilitarian Approach.
• The Rights Approach.
• The Virtue Approach.

Theories of Morality

• (2) Cultural Relativism.
• (3) Ethical Egoism.
• (4) Divine Command Theory.
• (5) Virtue Ethics.
• (6) Feminist Ethics.
• (7) Utilitarianism.
• (8) Kantian Theory.
• (9) Rights-based Theories.