International Corporate Responsibility Series

Volume 2, 2005

Perspectives On International Corporate Responsibility

New Global Business Moral Order and Business Activities in Developing Countries
The Nigerian Experience

Given the overwhelming expansion of globalization that has reduced the entire globe to a small village, especially in international business activities, there is a pressing need to design a new paradigm of moral rules for global business, in order to take care of emerging moral exigencies in corporate activities—especially multinational activities, which have grave cross-cultural moral implications. While the international business arena has addressed this new reality by fashioning various moral orders to guide activities in the international business scene, this paper observes that the developing countries of the world have been at the receiving end of the moral configuration of global business. This is why the responses of most developing countries to the global business moral order is predicated on resolving the apparent conflicts generated by this moral order vis-à-vis the value systems of individual countries. Specifically, the paper examines the issue of a global business moral order with particular focus on how it is faring in developing countries. It notes that in these countries, the moral order is merely a paper tiger due to its weak implementation framework, whence its inability to make any meaningful impact in developing countries. After a critical survey of the Nigerian business terrain, this paper concludes that the global business moral order barely impacts the Nigerian situation despite the promise of better, honest, fair, and sustainable business practices implied by corporate social responsibility.