MEXICO

Mexico – the sixth largest country in Americas. It ranks 11th in population. The country is a part
of the NAFTA treaty. It is a growing economy and is the third largest trading partner of US.

Business Ethics and Evolution

Ethics developed over time. It is hard for both the companies and professionals to operate within
a set of defined standards or guidelines only to see them change over a period of time.

Business in Mexico is done in person and not over phones or emails. Strong personal
relationships are a factor of prime importance in doing business with the Mexican people.
Therefore developing relationships is very much required. And the manager expects loyalty.
Hierarchy is considered very important in the country. In Mexico, decision making is done by
the most superior one in the hierarchy. The final decision relies with the boss. The country has
high men to women employee ratio and moreover the women in Mexico face gender
discrimination. For Mexicans, being on time can be compromised with personal obligations. The
country is working on raising its technological standards but the larger companies are more
advanced in comparison with the smaller ones. The country is not well known for the CSR
activities. As per the studies, lack of information about these has affected their capability to
understand and support the CSR activities. Mexicans do show an interest to participate in
charitable programs promoted by corporations.

The country maintains written code of ethics for various industrial sectors, say, petroleum,
pharmaceuticals, etc. Mexico follows federal consumer protection law called PROFECO to
protect consumer rights. Industry property law and copyright law take care of the Intellectual
property rights in the country.