Conducting business on an international level means dealing with, learning, and respecting thousands of various cultures on a daily basis. However, the current global market is so submerged in the pockets of other global corporations that many business leaders and employees forget the cultural barriers that define other participating global companies. This scenario is a consuming and growing issue in the international world of business and is called cultural sensitivity or cultural awareness. When the global market becomes culturally insensitive to its multiple participating civilizations the market will crumble and financial, political, and outsourcing difficulties will arise. This is because these potential and cultured customers value and stay with a company that shares their beliefs, language, values, and is well educated on that culture’s history. Without culture sensitivity in the business world, the cultured consumers lose their trust and commitment with a particular global corporation and take their business elsewhere to a more culturally educated company. Another purpose in being culturally sensitive is that cultures are evidently linked to certain countries. Therefore, when an entire culture is not respected and made aware of in a business that entire country will have begin to have an issue with that individual business resulting in political issues between the hurt customer and the culturally insensitive business. Lastly, without cultural awareness in internationally conducted business comes the issue of outsourcing and importing among various countries. For example, if a Western and globalized corporation prudently disrespects and is unsympathetic towards a customer of Asian culture to the point of losing business, that problem could start at a financial level, progress to a political problem, and escalate to an issue where Asian politics find it justified to stop something like trade to all Western imports. As one can see, if cultural sensitivity is not handled in its beginning mishandled stages, then it may progress to international problems that are financially, politically, and trading-wise degrading. In order for international business scholars and corporations to succeed in the global market it is consequential that companies and employees develop cultural sensitivity so that they may financially benefit, maintain a political balance in the global market, and grow vital communication skills. The rapidly growing global market requires for companies of all kinds to be able to adapt and grow along side, which starts with leaders and businesses becoming culturally sensitive in order to reap the benefits. A globalized business that has culturally sensitive values at the top of its list is a company that has happy foreign customers. Foreign customers want to do business with globalized companies that have awareness of their values and culture because those customers can trust that they will be properly respected, taken care of, and the communication skills of the company will be strong and compatible. Ideas such as these resound across all variations of business from same culture business to global because of the fact that happy customers will network with others about their happiness at a certain business, which then draws in more and increasing profit for that specific company. The necessity for companies to be culturally knowledgeable is only going to increase as the market does. Therefore, the issue of cultural awareness in the international market is not just a phase, movement, or idea that will die down; instead, the problem needs to be addressed and pursued by companies. Author Susan Reed from Global Post writes about how the quickly growing market requires that companies quickly change and adapt to the market’s needs. Which, in this case, requires the adaption of companies to cultural sensitivity. This article informs business leaders about the growth of cultural awareness and impacting cultural…
International business environment
Book0)Business mean to busy in an activity, which are related to money almost business have 50% chances of profit and losses.(Morrison, j. 2002)Business is operated in every part of the world. As the business grow. It is looking for new opportunities across the border. International business is the term use for the operation and objective of the organisation that have interest in other countries. For example Tesco, Ford, General Motor, McDonald, Disney, so many…
A multinational corporation (MNC) is company that is headquartered in one country and does at least some of its business in a foreign or host country. A few foreign employees, assets, and sales all contribute to helping a company become multinational. As a large emerging multinational corporation, Deere had the power to be based in rich countries rather than small and poor countries. In 1912, Deere & Company emerged in the neighboring country of Canada. Deere & Co had…
INTRODUCTION TO INTERNATIONAL BUSINESS: GLOBAL MARKET
CASE MODULE 1
03 DECEMBER 2010
E-bay is having so many issues with their Asian Marketing department in my opinion is because there is so much competition going today that between Chinese operations and E-commerce that is having a hard time keeping regular customers due to the high demand from other major corporations. The recent China news also shows how global the e-commerce company's business has become, and…
Globalization has affected the way of making business, trading, information systems, organizations and even tourism has changed impressively thanks to the open world in which we live now a days. Globalization has opened a lot of opportunities for a lot of people, but also has complicated some sectors in different countries.
For starters we should know that “international trade and cross-border investment flows are the main elements of this integration“.1 This is cause by the governments that…
Globalization is the process of integration arising from the interchange of views in the world, products ideas, and other aspects of culture
Why globalization is good:
Cheaper production costs and more consumers to sell to; this allows more business opportunities and availability of commodity to the consumer.
Untapped markets, different services, investment opportunities.
Globalization brings about growth in a countries business for some products are brought about…
EF International relations class
Introduction and Definition
• How can we define globaliztion?
-> Process by which economies and institutions
develop international influence or start operatin
g on an international scale
• Political economical and cultural/social fields
• Does the concept of globalization come from t
he first civilizations or from the modern area?
• Industrial revolution
• Creation of the United Nations (1945)
Explain what you understand by the economic notion of ‘globalization’. Using empirical evidence, describe how such globalization has affected the development of a country of your choice in the past decades.
Globalization refers to a multidimensional process whereby markets, firms, productions, and financial systems are integrated on a global scale. These processes can range across a wide variety of affairs, but all point to the internationalization of everyday life (Brawley, 2009). There are four…
Compare and contrast the current era of globalization with the
first age of globalization (1850s-1920s). What are the
advantages and disadvantages of globalization in its current
Word count: 1450
The definition of globalization is “the trend greater economic, culture,
political, and technological interdependence among national institutions and
economies” which was defined by Wild and Wild (2012, p. 28). That means
globalization is not just related to global economy, but…
Subject : globalization, is it good for everyone ?
Globalization has become a « cliché », though users of the word disagree about its consequences. Many believe that it had lifted, or potentially can lift, millions of people out of poverty permanently. On the opposite side, some believe that it already has driven millions deeper into poverty.
The worldwide movement toward economic, financial, trade, and communications integration would define the globalization.