What is the role of international norms and standards in global business?

International norms and standards are important elements that play a key role in global business. These are international standards for legal, trade, and ethical behavior that are accepted in most global markets. These international norms and standards set the stage for global business to thrive. They provide a framework for trade and investment, and other activities that take place in global markets. They also provide guidance on how global businesses should conduct themselves. This ensures that global businesses are following ethical practices, fair trading practices, and anti-corruption measures. International norms and standards also help to protect the rights of workers, consumers, and investors. They set out legal rights, such as minimum wage and workplace safety standards, to ensure that people are treated fairly. They also help to combat discrimination, bribery, and illegal activities. The laws of individual countries may differ from the international norms and standards, but they must be respected and adhered to in order for global business to succeed. This is especially true when it comes to California, which is home to many international businesses, and thus has a strong involvement in international business law. Adhering to international norms and standards will help California to stay competitive, and also ensure fair and ethical business practices for all involved.

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What is the role of international norms and standards in global business?

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