Doing business in different cultures
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A brief about how to do business in different cultures. The statements are made out of interview with seniors about their experiences. Have a look at how does things carry on in different cultures from a business perspective.
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Doing business in different cultures
- 2. You are not the only one in this world World is a local village MNCs are increasingly active in all parts of the world Business expansion to emerging nations International businessmans point of view 2
- 3. Chinese may become a power in world economy Chinese Business Culture Time : Chinese are punctual Nodding usually means that they are being polite and understand Guanxi good connections who you know is more important than what you know 3
- 4. Listening is more important in Chinese culture Chinese are a collective society Chinese place values and principles above money 4
- 5. Factors lead to do business in India Production location, cheap labour, unripen consumer markets English speaking business people. Culture : Important to be on time for meeting Personal questions restricted Titles are more important 5
- 6. Right hand while accepting thing Bargaining Indians are tolerant and patient, we understand that they dont know our culture 6
- 7. Friendship matters Use local consultants (rules have changed in recent years) Business ethics (greet with Gifts) Be patient in order to get something done Stress exclusivity - Negotiations one firm at a time. Face-to-face interaction is important, letters and faxes are discouraged. 7
- 8. Financial information Settling things too quickly X on it. Written agreements best when shown as they are beneficial when they stick to the deal. 8
- 9. Social class plays important role Aristocracy, the upper bourgeoisie (upper class of capitalist society) Upper-middle bourgeoisie, middle, lower middle, lower. Social interactions are affected by stereotypic people. Signs of status knowledge of literature and arts, decorated houses and high level of education Friendly, humorous and sarcastic, Often sarcastic. 9
- 10. They attract people who disagree with them unlike Indians and Americans who attract those who agree with them. Trustworthiness French organisations are centralised. 10
- 11. Insight into French culture follows. 1 When shaking hands with a French person, use a quick shake with some pressure in the grip.A firm, pumping handshake, which is so common in the United States, is considered to be uncultured 2. It is extremely importantto be on time for meetings and social occasions. Being fashionably late is frowned on. 3. During a meal, it is acceptable to engage in pleasant conversation, but personal questions and the subject of money are never brought up 4. Great importance is placed on neatness and taste. Therefore, visiting businesspeople should try very hard to be cultured and sophisticated. 5. The French tend to be suspiciousof early friendliness in the discussion and dislike first names. 11
- 12. 6. In negotiations the French try to find out what all of the other sides aimsand demands are at the beginning, but they reveal their own hand only late in the negotiations. 7. The French do not like being rushedinto making a decision(unlike Americans), and they rarely make important decisions inside the meeting. In fact, the person who is ultimately responsible for making the decision is often not present. 12
- 13. War, terrorist actions and continuing conflicts (Arabic countries scene.) Its often hard to do business in Arab countries. Bukra Insha Allah in contrast to Americans time is money 13
- 14. 1. It is important neverto display feelings of superiority, because this makes the other party feel inferior. No matter how well someone does something, the individual should let the action speak for itself and not brag or put on a show of self-importance. 2. One should not take credit for joint efforts. A great deal of what is accomplished is a result of group work, and to indicate that one accomplished something alone is a mistake. 3. Connections are extremely importantin conducting business.Well-connected businesspeople can get things done much faster than their counterparts who do not know the ins and outs of the system. 14
- 15. 4. Patienceis critical to the success of business transactions.This time consideration should be built into all negotiations, thus preventing one from giving away too much in an effort to reach a quick settlement. 5. Important decisions usually are made in person, not by correspondence or telephone. 15
- 16. Brazil is LatinAmerican country but its different from other. Colony of Portugal till 1865. Relaxed work ethic Physical contacts of greetings Face to face interaction is acceptable, other than pre- calling or emailing. Having strong relations ships is must as they dont trust soon. Appearance plays a major role. Patience is the key Presentations should be informative and expressive. 16
- 17. Cultures affect the business Different culture has different view of doing business Its important to understand those differences Do the business according to their cultures Price yourself the MostValuable Businessman in theWorld! 17
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