Business Overseas

In: Business and Management

Submitted By loveL0V3N
Words 755
Pages 4
Business Overseas
James Hall
AIU Online
Unit 5 IP

Business Overseas
“No culture can live if it attempts to be exclusive”. -Mahatma Gandhi
In order for any business to travel overseas and find success they must first learn to understand and appreciate the culture in which they plan to thrive. Learning this and losing your sense of ethnocentrism, the belief that your own culture is superior to another, is something that many business fail to do and in turn never find success. In order to find success overseas we must first learn to view their culture with and open-mind, or cultural relativism, and judge them according to the standards of their society, not our own. You must look at many things before trying to establish a foothold overseas. To prevent culture clash you must recognize the barriers you may face including language, cultural values and cultural norms. One way to avoid language barrier is to make sure the plant opened in Asia has local personal that not only understand the language but also understand the region in which you expect to establish a foothold. If a business is unaware of the values in which the society holds they can risk offending rather than satisfying their desire for your product. This is why local personal is important. These individuals will not only be knowledgeable of the language, religion, values, and culture norms but they will be comfortable executing these values. This prevents the culture shock or disorientation one might feel when in a society with a culture different from our own. When trying to establish a foothold overseas there are a few very important questions one must answer before their attempt overseas. Failing to answer these questions can result in unforeseen difficulties later. These questions include “Is my product needed in Asia and Europe?” knowing the demand for your product in this new society…...

Similar Documents

Cultural Challenges of Doing Business Overseas

...Cultural Challenges Globalization and overseas business expansion has brought about the need for in-depth understanding of cultural differences. When researching and considering cross cultural business ventures, it is important to understand that culture before vocally communicating that wish. Take time to research and understand the audience you are making your sell too. The Situation Steve Kafka, an American of Czech decent is contemplating expanding his franchise, Chicago Style Pizza, into Prague, Czech Republic. Steve currently franchises his business in the U.S. Steve must investigate this venture thoroughly and become familiar with the Czech culture to realize opportunities and mitigate risks to meet his end state goal of expanding his Pizzeria business into the Prague. Czech Culture and Comparative Advantages Czech cultures focuses on non confrontational and indirect communication. Czechs are non-confrontational and prefer to do business over through a series of meetings during different times. American’s can be confrontation and usually like to get to the point of their business negotiations, without getting to understand the other people within the meeting. When conducting business in the Czech Republic it is important to understand that Czechs are not as expressive as Americans can come off. A direct approach could be viewed as confrontational and rude, which goes along with the misconceptions of foreign understanding of the American culture. The......

Words: 1119 - Pages: 5

Overseas Listing

...available at SciVerse ScienceDirect Journal of Banking & Finance journal homepage: www.elsevier.com/locate/jbf Overseas listing as a policy tool: Evidence from China’s H-shares Qian Sun a,⇑, Wilson H.S. Tong b, Yujun Wu c a Department of Finance, School of Management, Fudan University, Shanghai 200433, China School of Accounting and Finance, Faculty of Business and Information Systems, Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong Special Administrative Region c Wealth Management Institute of Lujiazui, Shanghai 200122, China b a r t i c l e i n f o a b s t r a c t We investigate why the Chinese government chooses to perform share issue privatization (SIP) of its state-owned enterprises (SOEs) in Hong Kong, despite the benefit of facilitating the domestic stock market development if performing SIP in China (Subrahmanyam and Titman, 1999) and the higher cost to list in Hong Kong. We address this issue by arguing that the positive effect of SIPs on the development of the domestic market may have limitations, especially when the domestic market is not well developed and cannot absorb rapid and large-scale SIP activities. To maintain domestic market order, it may be optimal to carry out SIP in overseas markets. Furthermore, by listing shares in developed overseas markets, SOEs from the less developed countries could leverage on the overseas markets’ better accounting, governance, and legal standards. By examining a sample of 92 Chinese firms......

Words: 18188 - Pages: 73

France Brazil Business Overseas

...des activités et des fonctions où le risque est limité. D’où une administration très réglementée qui facilite le fonctionnement d’un système sans menace de risque. Comme nous pouvons voir dans les exemples cités ci-dessous, extraits du questionnaire en annexe : - « … Au Brésil, un très grand optimisme et peu de préoccupation au respect des délais : si cela ne marche pas aujourd’hui, ne t’en fais pas ça ira mieux demain » (Français au Brésil). - …La forte présence de la religion au Brésil, fait dire aux Brésiliens que cela va bien se passer « grâce à Dieu ». Ceci est difficile d’accepter par les Français extrêmement cartésiens qui ne peuvent insérer le facteur chance dans les paramètres de choses aussi sérieuses que le business… ». 4.2.4. L’individualisme et le collectivisme appliqué à la France et au Brésil En ce qui concerne l’individualisme, le Brésil montre un faible niveau d’individualisme. Paradoxalement, le Brésil est considéré comme le pays le plus inégalitaire au monde. Les villes brésiliennes où l'on trouve plus de richesse (São Paulo, par exemple) sont logiquement plus individualistes que celles moins riches, où le degré de solidarité et l’attachement aux valeurs communautaires sont plus élevés. La France, en revanche, est considérée comme un pays possédant une mentalité individualiste. Style paternaliste, modéré par l’individualisme des subordonnés. Nous pouvons citer comme exemple les phrases suivantes, extraite de notre......

Words: 30938 - Pages: 124

Overseas Chinese

...OVERSEAS CHINESE TABLE INTRODUCTION: Defining overseas Chinese 4 UNDERSTANDING OVERSEAS CHINESE A. History and cultural background 1. Southeast Asia 2. North America 3. Europe 4. Chinatowns B. The reasons for immigrating abroad 1. Political reasons 2. Economic and social reasons C. Current status 1. Population distribution 2. Southeast Asia a. The overseas Chinese’s paradox b. The Indonesian case 3. The United States 4. Europe BUSINESS WORLD OF CHINESE A. Rise of Global Chinese Companies & Huaqiao B. Regional Analysis 1. Asia 2. The United States 3. Europe C. Size of Chinese Capital Worldwide SUCCESS OF OVERSEAS CHINESE A. The Business Style B. The Downside of their Business Style THE CHANGES IN THE OVERSEAS CHINSESE SOCIETY A. Old and New Generation: How are they Different? B. The New Business of the New Generation C. The New Trend in the Chinese Immigration CONCLUSION A. Future Outlook of the Hua Qiao B. The opportunity to work with Overseas Chinese: WCEC 2005 in Seoul Introduction Defining overseas Chinese Overseas Chinese are ethnic Chinese people who live outside of China. China, in this usage, may refer to Greater China including territory currently administered by the rival governments of the People's Republic of China and the Republic of China as per traditional definitions of the term prior to the Chinese civil war, or only to the People's Republic of China by some quarters. In addition, the government of the Republic of China granted......

Words: 7862 - Pages: 32

Eco 561 Cultural Challenges of Doing Business Overseas

...Running head: THE CULTURAL CHALLENGES OF DOING BUSINESS OVERSEAS Week 6 Paper The Cultural Challenges of Doing Business Overseas University of Phoenix Online ECO/561 July, 26 2010 Dr. George Sharghi Abstract Mr. Kafka is an American of Czech origin. He’s a franchisor for Chicago Style Pizza and decided to expand his business into the Czech Republic and anticipates he will face some difficulties at the new location in Prague, Czech Republic. Born in the United States, he has family and friends in the Czech Republic, speaks Czech fluently, and has visited the country of his origin several times (University of Phoenix, 2010). This paper will identify major differences, incompatibilities, risks, mitigation factor, comparative advantages that exist and how best Steve can benefit, Hofstede's four primary dimensions, trade barriers, assessment of demand, cost, and what Mr. Steve Kafka should know about price and income elasticites.   U.S./Czech Cultures & Comparative Advantages Some of the major differences and incompatibilities between the United States and Czech cultures are; norms, values, beliefs and behavior. The citizens of the Czech Republic believe in the firm hand shakes upon introduction and again when departing. They address each other by their first name takes time and occur when the consent is mutual. They raise a hand in order to get their attention.  Czech citizens are well informed about politics and religion.  The general attitude of......

Words: 979 - Pages: 4

Doing Business Overseas

...video we used for this project is 'Doing Business in the USA', presented by Scott James. It focuses on an overseas (UK) perspective regarding the legal environment surrounding doing business in the United States from another country; particularly intellectual property, market entry, contracts, and liability. He explains how intellectual property laws (copyrights, patents, trademarks) vary between the US and other nations, and advises foreign companies to register their intellectual property within the US in order to secure their rights in the event of dispute. With regard to entering the US market, James points out red tape surrounding obtaining Visa's, in addition to concerns over which type of company to set up in the US and how tax laws can impact this decision. James mentions contracts, and how they should be written to be effective under the law in the target nation; within the US disclaimers must be 'conspicuous' in order to be enforceable. Liability is the final element James discusses; the US has very strict liability laws for products: These center around the knowledge, action, and potential for action of those liable. James's seminar is significant to 'Global Business Environment' because it focuses on the legal environment surrounding doing business globally. Legal issues are a major part of the overall business spectrum; misread a law and your company can be liable for extensive damages. What are perfectly legal business practices in one country are often......

Words: 283 - Pages: 2

The Cultural Challenges of Doing Business Overseas

...The Cultural Challenges of Doing Business Overseas EC0/561 8/2/2014 Dr. Sharghi The Cultural Challenges of Doing Business Overseas This paper will provide an analysis of Steve Kafka’s decision to open and operate a Chicago-style pizza business in the Czech Republic (University of Phoenix, 2011). This analysis will include information on the cultural differences between the United States and the Czech Republic and how these differences may affect the business climate. This paper will also review potential risks in doing business overseas and what Kafka may be able to do to mitigate these risks. In addition, trade barriers and price structures will also be discussed. Background Kafka is an American of Czech heritage, speaks fluent Czech, and has traveled to the Czech Republic on many occasions, thus giving him confidence in his understanding of the business environment and economy opportunities (University of Phoenix, 2011). Kafka also has many friends and family members living in the Czech Republic which also give him the ability to better learn about cultural differences and standard customs. The Czech Republic is a member of the European Union, NATO, the World Trade Organization, the European Bank for Reconstruction, and the International Monetary Fund, and the International Bank for Reconstruction (Doing Business, 2011). The monetary unit used is the Czech crown rather than the Euro and credit cards are commonly accepted, including......

Words: 1110 - Pages: 5

Doing Business Overseas

...particular position or action in relation to this topic. For example, if you choose affirmative action, your presentation would not simply explain what affirmative action is; that would be an informative presentation. Rather, your purpose might be to try to persuade managers to adopt an affirmative action program or to alter an existing one in some way. Topics for Persuasive Presentation Choose one of the topics from the following list. Imagine a workplace situation in which you would need to persuade a particular audience to take a particular action in connection with this topic. Develop a presentation in which you would persuade that audience to take that action.  * Customer Service Training * Diversity Training * Doing Business Overseas * Employee Wellness Programs * Family Friendly Policies * Going Green in the Workplace * Internet Use Monitoring * Productivity Incentives * Teams as an Organizational Strategy * Telecommuting * Tuition Reimbursement Policy * Workplace Safety Week-by-Week Steps for Developing and Delivering the Oral Presentation Assignment 1. In Week 2, choose a topic from the list, and in the Discussion, share the topic you have chosen. You will explain the hypothetical situation in which you will be making your presentation. Who will be your audience? What specifically will you try to persuade this audience to do in connection with your chosen topic? This will be the thesis or goal of your......

Words: 872 - Pages: 4

Cultural Challenges of Doing Business Overseas

...The Cultural Challenges of Doing Business Overseas Karinna Kruse MMPBL501 November 22, 2010 David Francom Steve Kafka is an American citizen from Chicago, Illinois, who is looking to expand his business overseas. Steve is a franchisor for Chicago Style Pizza and sees the opportunity of introducing the famous food in Czech Republic, a country his family came from. Because he is familiar with the language, customs and culture, Steve is confident that he will make his business successful in Czech Republic. Therefore, before starting his franchise overseas, Steve needs to conduct a cultural and economic study to determining the cost of business, the risks of investment, and the any trade barriers for his pizza business. “Culture is the acquired knowledge that people use to interpret experience and generate social behavior. This knowledge forms values, creates attitudes, and influences behavior” (Hodgetts, Luthans, & Doh, 2005, p. 93-94). United States and Czech Republic are two countries situated on two different continents, and with significant cultural differences between their cultures. Czech Republic was part of Czechoslovakia, a former Easter communist country. Czech Republic gained its independence in 1989, after the Velvet Revolution, when the Eastern communist bloc ceded to exist The economic, political and cultural relationship between United States and Czech Republic are strong, furthermore, the United States encourages the economic transformation in Czech...

Words: 1029 - Pages: 5

The Cultural Challenges of Doing Business Overseas

...The Cultural Challenges of Doing Business Overseas MMPBL/501 August 23, 2011 Dr. Sangeeta Bishop Steve Kafka, an American of Czech origin and a franchisor for Chicago Style Pizza, has decided to expand his business into the Czech Republic. He knows it is a risky decision. When he became a franchisor, he had to overcome many difficulties. Steve anticipates he will face some of these difficulties again at the new location in Prague, Czech Republic. Although he was born in the United States, he has family and friends in the Czech Republic. Steve speaks Czech fluently, and has visited the country of his origin several times. In other words, he knows the people and the culture. Or does he? The purpose of this Cultural Challenges of Doing Business Overseas paper is to analyze the major differences and incompatibilities between the U.S. and Czech cultures.  I will analyze the cross-cultural differences between the United States and Czech Republic, determine comparative advantages in this country, and recommend ways to minimize the risks of establishing a franchise overseas. It is important for Steve Hafka to understand Czech Cuisine being that he has decided to expand his business in Czech. If he does not research the Czech culture, his pizza franchise may not be successful. Both cultures are quite compatible and the major differences come in attitudes of people. Americans are generally optimists, where the majority of Czechs are pessimists. Another difference between......

Words: 537 - Pages: 3

Overseas Companies

...Overseas companies registered in the UK GPO1 March 2015 Companies Act 2006 Is this guidance for you? This guide will be relevant to you if: • you are an overseas company thinking of opening a UK establishment • you are an overseas company with a UK establishment looking for basic guidance on your continuing filing and disclosure obligations • you act as an adviser to an overseas company and are looking for guidance on registration and disclosure requirements in the UK GPO1 March 2015 – Version 3.1 Companies Act 2006 Page 2 of 22 Contents Introduction Chapter 1. Who needs to register? Chapter 2. Registration Chapter 3. Delivery requirements Chapter 4. Changing the accounting reference date or accounting requirements Chapter 5. Disclosure requirements Chapter 6. Insolvency, winding up and closure Chapter 7. Quality of documents Chapter 8. Further information This guide answers many frequently asked questions and provides information on completing the most commonly used filings relating to this area. The guide is not drafted with unusual or complex transactions in mind. Specialist professional advice may be needed in those circumstances. GPO1 March 2015 – Version 3.1 Companies Act 2006 Page 3 of 22 Companies Act 2006 Introduction This guide explains how to register an overseas company that opens an establishment in the UK. It also provides guidance on the disclosure......

Words: 6462 - Pages: 26

Doing Business Overseas

...Cultural Challenges of Doing Business Overseas Major differences and incompatibilities exist between the United States and the Czech Republic Culture. These differences create major business risks when doing business in the Czech Republic. Comparative advantages exist in the Czech Republic. Hofstede’s has four primary dimensions to evaluate the Czech business environment. Czech Republic has trade barriers that has to be followed. Czech Republic is about 78,861 square kilometers in Central Europe. The Czech Republic is about the size of the state of Virginia with a population of 10.5 million. The Czech Republic operates with a Parliamentary republic type of government. “A parliamentary republic is a type of republic which operates under a parliamentary system of government”. (CountryWatch, 2011, p. 1) Czech Republic primary language Czech is spoken by 95 % of the population. English language is not widely used in the country. In a parliamentary republic there is no clear-cut separation of powers between the executive and legislative branches. The Czech Republic considers education important the literacy rate is 99.8 %. Student who attend a public university pay a small amount for tuition. Czechs are both formal and somewhat indirect in their communication. They try not to purposely offend and will often go out of their way to protect someone’s feelings. Czechs are non-confrontational and often take an indirect approach to business dealings. If they......

Words: 1071 - Pages: 5

Overseas Learning

...Name: Ramlah Binte Eesah Student ID: K1571682 Course Title: BA English with Psychology Assignment Number: TMA02 Should the Singapore MOE continue to conduct overseas learning journeys even after the incident of the Sabah Earthquake? One of the best ways to broaden our minds is to travel and be exposed to the world. Schools in Singapore provide overseas learning journeys to encourage students to learn not only through the classroom but also through experiential learning, giving them the chance to break out of their academic routine. Students should be encouraged to embark on overseas learning journeys provided by their schools as it develops their leadership skills, gives them a greater sense of independence and confidence, and allows them to become appreciative and altruistic individuals (Ministry of Education (MOE), Para 1, 2014). Overseas learning journeys have allowed students to develop their leadership skills. The Member of Parliament, Dr Lim Wee Kiak, highlighted that “For many of the students, the experience of having to overcome the physical and mental challenges to conquer Mount Kinabalu was a metaphor for learning to conquer themselves and future challenges in life” (MOE, Para 7, 2015). Such trips have enhanced students’ social competence, allowing them to go beyond their comfort zones and confront challenges that may befall them. These experiences have been beneficial to students as they learn to resolve issues and make independent decisions without......

Words: 1380 - Pages: 6

Expanding Overseas

...Expanding Abroad: Is it Worth the Effort Owning and operating a business is not something that comes easily to most people, after all many businesses struggle to keep afloat in their own country forget about opening a business overseas. Running a business can be a challenge especially trying to do it from a different country. There are many things that you need to take into consideration such as language barriers, currency exchange and customs to name a few. Many entrepreneurs look to the international market because they have lower startup costs and there is less business around to compete for startup costs. This by no means makes starting a business overseas easy however; there are definitely tricks to the trade. As with anything there are challenges, setting up an international business takes a lot of time and could potentially take longer than a business started in your own country. Dealing with the international laws and tax regulations is a job in itself. A lot of thought needs to be put into starting the business as there are far more things to think about such as transportation, utilities, internet speed and economic stability. Not many people would think about it but traffic and transportation are huge things to consider. Traveling three miles to the office in the United States which takes ten minutes could take easily three hours while in another country. Opening a business in unfamiliar territory certainly opens up a myriad of roads to be traveled and the......

Words: 1472 - Pages: 6

Are Us Companies at an Ethical Disadvantage When Doing Business Overseas?

...Are US Companies at an ethical disadvantage when doing business overseas? Whether or not US companies are at a disadvantage when dealing overseas has remain a focal point for several years since the passing of The Foreign Corrupt Practices Act (FCPA) in 1977, as bribery has become more common place in the business world with the current trend towards globalization. Despite efforts in the US trying to hold US companies at higher standards, bribery is not considered unethical around the world (De George, 1986). In many foreign countries, bribery is considered the standard medium for businesses transactions and is even allowed to be deducted as legitimate business expenses for accounting purposes, giving legitimacy to the practice. The US Department of Commerce has estimated that foreign companies have used bribes to beat out US companies out of more than $45 billion of international business between1994 to 2000 (Hodgetts, 2000). Bribery is usually defined as the “remuneration for the performance of an act that is inconsistent with the work contract or the nature of the work one has been hired to perform” (Shaw, 1989). Research suggests that bribery is more prevalent in developing countries; however, developed countries (including individualistic countries) also suffer from unethical issues (Shaw, 1989). Recently, American executives at Lindsey Manufacturing Company became the first to be convicted of foreign bribery in more than 34 years of the passing of FCPA (Fulbright &......

Words: 480 - Pages: 2

michael porter | PoinBreak 3D HOU BluRay 3D 1080p | Economic growth in China - 917 Words