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This paper aims to identify and discuss new and novel business paradigms in China and India. In addition, this study examines the new business environment in those countries (2020 onwards) in the context of COVID 19 and explores the challenges and opportunities in the post COVID period.

Based on content analysis, this study discusses contemporary topics such as innovation, exports, foreign direct investment, technology, social capital, board independence as part of corporate governance and explores novel themes such as consumer behaviour in regard to luxury brands and women entrepreneurship in an emerging country context in this paper.

It was found that there are several novel paradigms in the context of China and India. A paradigm shift in diplomatic relations has taken place as an aftermath of COVID-19 in the world.

This paper explores most of the unique dimensions of new and novel paradigms in the context of China and India.

This chapter aims to help redirect Business and Society (BAS) scholarship to embrace the unprecedented challenges of the Anthropocene era including climate collapse and ecological breakdown. The existential risk presented by the new reality of the Anthropocene requires a radical rethinking of the purpose of business and its dominating working models. This chapter discusses the main problems of efficiency and growth and shows that business efficiency often results in aggregate ecological overshot. It is argued with Herman Daly that frugality, that is, substantial reduction of the material throughput, should precede business efficiency for achieving ecological sustainability. This chapter suggests new directions for BAS scholarship by highlighting three major issues, namely the scale of business activities relative to the ecosystem of the planet, short termism that is the discrepancy between the time horizon of business decisions and that of ecological processes, and inequality which is the result of current business models that are all about accumulation of wealth and not paying enough attention to distribution of wealth. The chapter concludes that the Anthropocene era represents a clear disjuncture and discontinuity from the past and business needs to find a new realignment to achieve a sustainable world. That realignment requires a drastic modification of business-nature relations.

Managers, consultants, and management researchers are increasingly realizing the important role of organizational culture in determining the decision‐making patterns and the long‐term success of organizations. A unique characteristic of most continuously successful organizations, according to Peters and Waterman, is that they possess consciously developed recognizable cultures that support innovation and strategic actions.

While mergers may be a good way to grow rapidly, can one sustain growth and performance for long periods? The answer lies in how well one integrates the business after the merger.

Corporate crises are becoming more frequent and devastating for corporations. The Bhopal disaster cost Union Carbide Corporation over half a billion dollars and forced it into a restructuring that reduced its size by one half.

Although inflation has abated somewhat in the United States, its specter still looms on the horizon. Indeed, inflation is expected to remain endemic to most advanced nations in the coming years. Perhaps no industry is as affected by inflation as retailing. In order to cope, retailers need to understand the changes in the behavior of their consumers, suppliers, and competitors and must formulate constructive strategies to respond to these.

The widening rift at the macro level between the proponents of economic growth and those of environmental protection may have triggered forces acting in the opposite direction at the micro‐level where competitive performance is increasingly becoming a function of the ability of firms to respond to environmentally‐defined strategic advantages. We cite examples of current corporate behavior which suggest a stages model of responses to environmental threats and opportunities. The model portrays an evolutionary process in which competitiveness and environmental goals may converge to become complementary forces driving pro‐active firms toward a strategy of competitive environmentalism.

Has the public affairs function significantly changed the way major U.S. corporations meet the growing external challenge to traditional corporate practices? Examining in detail the actions of Exxon (Valdez) and Union Carbide (Bhopal), this paper raises some questions as to whether the difference between public affairs and traditional public relations is a real one or merely a matter of semantics. Then, utilizing an unpublished corporate public affairs survey conducted by Central Michigan University, the writer argues that the problem with the public affairs function lies not with the function itself, but in its implementation by corporations.