In the global marketplace, one often runs across the idea that borders are quickly becoming a thing of the past. This idea is supported by the growing power of multi-national companies, by the interconnectedness of markets powered by fast supply chains and even faster communications, and by a trend towards greater co-operation among governments, perhaps best illustrated by the formation of the European Union.
Running contrary to the idea of disappearing borders, however, is the way in which different countries regulate their pieces of the global marketplace. As corporate scandals have plagued countries around the world, there has been a growing acceptance of the need for legislation designed to increase the financial transparency and accountability of publicly traded companies. Each country, however, tends to approach this issue a little differently, and even as the world seems to have taken a unified step forward in embracing a greater sense of corporate integrity, CEOs attempting to conduct business abroad may feel like they are constantly taking a step backward as they are forced to navigate complex and sometimes contradictory laws and regulations.
Thus, the present moment is definitely one of transition, confusion, and even worry. The future, however, promises a brighter picture, one where ethics programmes are driven by economics, not just scandals, and where outsourced solution providers remove from their clients the burden of implementing and maintaining complex international ethics programmes.
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