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Discuss current management practices and principles used in the current global business environment.
Summarize the opportunities and risks of doing business in foreign countries.
Explain how differences between foreign and domestic environments impact the conduct of business.
Describe how global managers are able to influence management decisions despite cultural and language differences.
Compare alternative organizational structures for international operations.
Discuss strategies organizations can pursue for international market expansion.
You want to launch a business internationally, and you need to choose 3 countries-1 in the Middle East, 1 in Asia, and 1 in Latin America.
What are some of the components of these cultures that you need to understand from a business standpoint?
How are they different in each country? Specifically, what considerations will be necessary to facilitate collaboration across these cultures? Identify supervisory skills appropriate to respond to your considerations.
Can you have a U.S. management style in these countries? In support of your answer, show how various issues would influence the success of multicultural teamwork.
How are their economic systems classified? Explain why they are classified as such.
After studying these countries, explain whether you should or should not move forward with your business plan.
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Doing business internationally requires a superior comprehension of different cultures because what works in one country might not be applicable to the other one. Moreover, giving consideration to cultural issues from business standpoint allow raising cultural competence in the business and guarantee effectiveness. For launching a business internationally, the three countries selected are Saudi Arabia from Middle East, India from Asia and Brazil from Latin America.
Components of cultures that Need to Understand from a Business Standpoint
One of the vital cultural components, which need to be understood from a business standpoint, is communication style and methods because culture more vitally defines communication style, instead of language. Moreover, dress codes and clothes fashion also holds importance and gets affected by culture, for instance what one country considers part shoes would not have worn in another. Style of government is another important component of culture that needs to be considered from business standpoint for working internationally. Other cultural components that need to understand are level of education, living standards, employment regulation, gender equality, time sensitivity, team organization, risk taking, form of agreement and preferred work environment.
Differences in Each Country
There are phenomenal differences in all the three countries as Indian society is affected by the “caste system,” and individuals generally agree to their relative position. People are expected to arrive on time, but often a double standard is applied as associates can arrive late. Indian culture has strong family orientation so questioning about family is significant and relationships and generating trust are essential apart from the contract.