October 18, 2021

Coin Tastic

Business Managements for you

Social Entrepreneurs Vs Business Entrepreneurs (The Similarities And Differences)

International business is becoming the norm these days. Cultural differences in themselves can be a...

International business is becoming the norm these days. Cultural differences in themselves can be a selling point suggesting luxury, prestige, or status. Sometimes U.S. companies use domestic marketing approaches when selling abroad because they believe the American look will sell the product. In Japan, Borden sells Lady Borden ice cream and Borden cheese and Borden cheese deliberately packaged and labeled in English, exactly as they are in the United States. Similarly in France, General Foods sells a chewing gum called Hollywood with an accompanying Pepsi-generation type of as campaign that pictures teenagers riding bicycles on the beach. Realizing that it is virtually impossible to create so many job positions annually in the formal segment, Prime Minister Narendra Modi is giving thrust to the idea of self-employment through skill development and promotion of business management by supporting ‘startups’. The government is actively encouraging young graduates to start their own business, rather than ‘looking for job’. This way they also become ‘job providers’ as their business grows.

Another core issue is the company’s growth and the importance of networking and interaction. This view looks at the way in which companies and organisations interact and consequently network with each other to gain commercial advantage in world markets. The network can be using similar subcontractors or components, sharing research and development costs or operating within the same governmental framework. Clearly, when businesses formulate a trading block with no internal barriers they are actually creating their own networks. Collaborations in aerospace, vehicle manufactures and engineering have all sponsored the development of a country’s or a group of countries’ outlook based on their own internal market network. This network and interaction approach to internationalisation shows the substance of being able to influence decisions when knowing how the global network players work or interact.

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Managers also must analyze and become familiar with the hidden language of foreign cultures. Five key topics time, space, material possessions, friendship patterns, and business agreements offer a starting point from which managers can begin to acquire the understanding necessary to do business in foreign countries. In many parts of the world time is flexible and not seen as a limited commodity people come late to appointments or may not come at all. In Hong Kong it is futile to set exact meeting times, because getting from one place to another may take minutes or hours depending on the traffic situation. Showing indignation or impatience at such behavior would astonish an Arab, Latin American, or Asian. Understanding national and cultural differences in the concept of time is critical for the global business manager.