Essay about Importance of Cultural Differences in International Business

Essay about Importance of Cultural Differences in International Business

Length: 1761 words (5 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Our economic development will forever be defined as our ability to succeed internationally. PwC forecasts India’s real annual GDP growth until 2050 at 8.9 percent, Vietnam’s at 8.8 percent, and China’s at 5.9 percent. The list of fast-growing emerging markets goes on and on. The U.S. forecast is a meager 2.4 percent, comparable with most Western economies. The domestic companies that are likely to see incremental growth in the coming decades are those that are not only doing business internationally, but that are developing the strategic skill set to master doing business across cultures. Cross-cultural core competence is at the crux of today’s sustainable competitive advantage. For example, political environment will tell us, as to how and why political leaders control, whether and how of international business. Legal environment, both national and international will tell us about many kinds of laws by which business firms must work. The cultural environment will tell us about attitudes, beliefs and opinions important to business people. Economic environment will tell us about the economic system being followed by the host country, which may or may not be different from home country. It will also explain the variables such as level of development, human resources, Gross Domestic Per Capita and consumption patterns that determine a firm’s ability to do business. Geography will tell us about location, quantity, and quality of the world’s resources.
By study their viewpoint of business, this can give value to international business. Every business as part of its economic objectives always wants to grow. Domestic market is likely to saturate after a limit and ...


... middle of paper ...


... – Explained! [online] available from < http://www.shareyouressays.com/114495/10-main-advantages-of-studying-international-business-explained > [1 April 2014]
• YahooAnswer (2011) what is the definition of "cultural programming"? [online] available from < https://answers.yahoo.com/question/index?qid=20101026164816AA4Wc0J > [1 April 2014]






Online Journal
• Fredric William Swierczek (2006) ‘Dimensions of Success in International Business Negotiations’ Journal of Intercultural Communication 11. Available from < http://www.immi.se/intercultural/nr11/numprasertchai.htm > [ 1 April 2014]
• jeswald w. salacuse (2) 005 ‘The Top Ten ways that Culture can Affect International Negotiations ‘. Available from < http://iveybusinessjournal.com/topics/global-business/the-top-ten-ways-that-culture-can-affect-international-negotiations#.Uzwdh6iSySp > [ 3 April 2014]

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay about Importance of Cultural Differences in International Business

- Our economic development will forever be defined as our ability to succeed internationally. PwC forecasts India’s real annual GDP growth until 2050 at 8.9 percent, Vietnam’s at 8.8 percent, and China’s at 5.9 percent. The list of fast-growing emerging markets goes on and on. The U.S. forecast is a meager 2.4 percent, comparable with most Western economies. The domestic companies that are likely to see incremental growth in the coming decades are those that are not only doing business internationally, but that are developing the strategic skill set to master doing business across cultures....   [tags: Culture, Negotiation, Profit]

Better Essays
1761 words (5 pages)

Essay about Business Failure Due to Cultural Differences

- Business Failure Due to Cultural Differences “Red is a positive color in Denmark, but represents witchcraft and death in many African countries,” (Understand and heed, 1991, p.1). Simple understandings, such as this one, can make the difference in a business’ success or failure in a foreign country. Various countries have different customs and beliefs that need to be accustomed to when business are to be successful. American businesses especially have difficulties with this concept. “At times in the past, Americans have not had a good track record of being sensitive to cultural distinctions,” (Understand and heed, 1991, p.3)....   [tags: Culture ]

Better Essays
1011 words (2.9 pages)

Hofstede 's Cultural Framework And Business Practices Essay

- “Using Hofstede’s Cultural Framework to Reveal Different Management and Business Practices between Countries” Differences in management and business practices become more obvious as globalization increases (Carpenter, Taylor, & Erdogan, 2009). These differences can be revealed by using Geert Hoftstede’s six cultural dimensions. This essay will explain Hofstede’s cultural framework and how it reveals some differences in managerial styles and business practices between South Korea and the United Kingdom....   [tags: Cross-cultural communication, Culture]

Better Essays
738 words (2.1 pages)

Essay about What is Corporate Social Responsibility?

- What is Corporate Social Responsibility. As characterized by investopedia the saying “Corporate Social Responsibility” states that, corporate activity to survey and assume ownership over the organization's impacts on nature’s turf and effect on social welfare. The term by and large applies to organization deliberations that go past what may be needed by natural assurance bunches”. (Definition of Corporate Social Responsibility – CSR, n.d) CSR may also be said to as "corporate citizenship" it is a business’ concern for welfare....   [tags: Breadtalk, Cultural Differences, Businessess]

Better Essays
883 words (2.5 pages)

Cultural Relativism On A Global Scale Essay

- It is not uncommon for an individual to describe a culture that is not their own as exotic, unique, or dated. However, they would be overlooking the idea and importance of cultural relativism on a global scale. It is understandable that a cultural aspect, different from what an individual is used to interacting in, seems hard to understand or too complex to recognize, but it is important to look at one’s own culture and others from multiple angles. The lack of familiarity of another culture that often produces words like “exotic” can be put away with a proper amount of time researching, understanding, and appreciating the normal behavior of another culture....   [tags: Culture, Anthropology, Cultural relativism]

Better Essays
1222 words (3.5 pages)

Essay on Cross-Cultural Differences Between Doing Business In France And China

- As we revel in the wake of Globalization, models of organizations and styles of management are becoming increasingly similar. However, this conversion has a limit. Some cross-cultural differences will not disappear so easily and managers will have to understand and appreciate these cultural ‘oddities' if they wish to run a successful business. Let us take China and France as examples of two very different countries that may have cross-cultural problems while doing business. First we will give a general overview of the two countries and then discuss some management practices that may vary between these eastern and western cultures....   [tags: International Business]

Better Essays
1970 words (5.6 pages)

Cultural Dimensions In People Management Essay

- Cultural Dimensions in People Management For any international organization, it is of extremely significance to understand cultural differences and make good use of them in the global context. Through insight into a culture perspective, the article analyzes the role and impact of culture. It starts by introducing prerequisite concept of socialization and then deals with four cultural dimensions on the national level. Finally, it copes with corporate culture.  Socialization Socialization, referred here, is the way in which a person is conditioned by environment(s)....   [tags: Business Management Cultural]

Free Essays
1971 words (5.6 pages)

Cultural Challenges Of Doing Business Overseas Essay

- Cultural Challenges of Doing Business Overseas Culture (from the Latin cultura stemming from colere, meaning "to cultivate,") generally refers to patterns of human activity and the symbolic structures that give such activity significant importance. Different definitions of "culture" reflect different theoretical bases for understanding, or criteria for evaluating, human activity. Culture has been called the way of life for an entire society. As such, it includes codes of manners, dress, language, religion, rituals, norms of behavior such as law and morality, and systems of belief (Wikipedia)....   [tags: International Business]

Free Essays
1625 words (4.6 pages)

The Cultural Challenges Of Doing Business Overseas Essay example

- The Cultural Challenges of Doing Business Overseas Introduction There are several challenges such as the impact culture and management practices to succeed overseas with business ventures for an American Company that takes the greatest risks in making decisions. In this Scenario, Steve Kafka, an American of Czech origin and a franchisor for Chicago Style Pizza, has decided to expand his business into the Czech Republic....   [tags: International Business Culture]

Better Essays
1336 words (3.8 pages)

Cultural Differences in Joint Ventures Essay

- ESSAY TOPIC (1) :A joint venture is affected by the cultural distance between two partners. In what ways are joint ventures and types of international collaboration affected by cultural differences. INDEX INTRODUCTION…………………………………………………………………2 What is culture?…………………………………………………………………2-3 The Cultural Orientation Model……………………………………………….4 The cultural Gap…………………………………………………………………5-6 Understanding Cultural Differences………………………………………….6 The Challenge of Cultural Success…………………………………………..7 Cross-cultural training as a solution…………………………………………8 The effectiveness of the cross cultural training programs………………8-9 Future Directions for Cross-Cultural Training and International Business Ass...   [tags: essays research papers fc]

Better Essays
3352 words (9.6 pages)