Global Business Cultral Assessment

In: Business and Management

Submitted By svancampen
Words 4351
Pages 18
Global Business Cultural Analysis: Russia

Liberty University
School of Business
BUSI 604-B05
Dr. Wallace Saunders
July 4th, 2014

Honor Code
I have neither given nor received any assistance on this assignment that has not been disclosed in the document submitted. I have not violated nor observed any violations of the Liberty University Honor Code as it applies to this assignment.
Signed:

Abstract
Russia spans 11 times zones and with 147 million people the business opportunities are just as great as the abundance of raw materials and the landmass of the country. Russia is a unique business opportunity and the first thing that needs to be established before thinking of doing business in Russia is an understanding of its people and their diverse culture. Russia’s turbulent past and breakup of the U.S.S.R. along with the switch to a free market and privately held companies have combined making the people of Russia complicated and cultural diverse. Understanding how these cultural diversities allow for international business to be more successful inside of Russia will allow for the expansion of business and the creation of opportunity for those willing to understand Russian culture. Russia is in a unique position to allow for foreign investment to help grow and stabilize their economy and grow their relationships with foreign countries and investors. It is the investors and businesses responsibility to understand and accept the cultural differences that are encountered during the commission of international business. Keywords: dimensions, culture, business, differences,

Global Business Cultural Analysis: Russia Globalization has brought cultural awareness to a new level, instead of diminishing the need for cultural knowledge it has increased the rate by which we have to acquire and understand cultural dimensions. Knowing who you are doing…...

Similar Documents

Business Assessment

...7 Key Strategies That You Must Learn From Apple’s Marketing Coming off the heels of yet another successful Apple launch debut, it’s increasingly clear that Apple is on top of their game in a way like no other. Which other company could turn an ordinary press conference into a live global event? The secret lies beyond their product line and design standards; it lies beyond even Steve Jobs’ emphatic adherence to Apple’s core philosophy, which is that the user doesn’t always know what they want. Looking at the company’s latest product lines and revenue models, I’d be a fool to call them anything less than what they are, which is: * A design firm * A media platform * A publishing company * A software powerhouse * A computer builder * A movement Break down each of these bullets individually and you’ll find a company at the top of their respective industry, but combine them into a single entity and you’ve got the recipe for building one of the most influential businesses of all time. So how did they do it? Rather than tell you how I think they did it, I thought instead I’d turn to their fans on Twitter, who helped me uncover 7 of the greatest marketing lessons that Apple brings to the table. 1. Ignore Your Critics As an entrepreneur, you’ll hear a lot of people tell you that you need to reach out and figure out what people want, which means listening to your critics, often times more patiently than you’d like. Apple decides to flip the script...

Words: 1238 - Pages: 5

Global Business

...Memo To: Enrique Urdaneta, SOILTECH Piling C.A Venezuela Date: March 14, 2012 Subject: My forecast of how Global Business might change in the next 50 years Founded in 1991, SOILTECH has been one of the best and more solid geotechnical engineering corporations in Venezuela. With the actual economic situation that Venezuelans are experiencing, the demand for construction has decreased and therefore the annual productivity of the corporation. Even though SOILTECH increased its revenue by 15 percent compared to last year, there is many uncertainty and ambiguity regarding the future of the company due to political reasons. The expectations of the people related to the near future are eliminating all kinds of possible investments and as a result the quantity of work and projects have decreased. Venezuela is experiencing a really tough political and economic situation which is leading the most important investors to leave the country and establish somewhere else. In order for SOILTECH to keep their annual revenue increasing in the next 50 years, the executive board should evaluate the possibility of globalizing the company by expanding it to countries in the American Continent such as Brazil, which has been experiencing a very high level of growth in the last few years. By expanding SOILTECH to other countries in America, the company will be able to increase its revenues and at the same time decrease the risk of being only established at an uncertain location such as......

Words: 670 - Pages: 3

Global Business

...Global Business What is global business? It is not difficult to define this word. By definition, global business basically stands for a business which operates across the globe, rather than just in a country. However, global business is not something new or strange in today’s society, yet the exchange of goods over a great distance has already existed since very long time ago. Back in the Stone Age, anthropologists have already established trading in Europe over a long distance; According to the history, the Silk Road, a historical network of interlinking trade routes for the lucrative Chinese silk trade, is also a type of “global business” back in the old time. Although these two examples cannot perfectly represent what global business is, still, they had the same characteristics. In the 21st century, today’s society, global business has a much bigger and broader meaning, it could include creation and transfer of goods, skills, information, resources, and even services. Resources may include raw materials, capital, and energy, etc.; whereas goods include tangible goods and intangible goods, such as manufactured parts, sub-assemblies, and assemblies. Intangible goods, like service, may include financial, accounting, import and export. It is no longer defined only by the distance or number of offices companies have in countries around the world or how many products they sell internationally, yet, according to an article published on Business Inquirer, by James G.......

Words: 993 - Pages: 4

Global Business

...Part One Background for International Business CHAPTER ONE Globalization and International Business OBJECTIVES • To define globalization and international business and how they affect each other • To understand why companies engage in international business and why international business growth has accelerated • To comprehend criticisms of globalization • To become familiar with different modes a company can use to accomplish its global objectives • To grasp the role social science disciplines play in understanding why international business is different from domestic business CHAPTER OVERVIEW Globalization has become a major socioeconomic force and topic of debate in the twenty-first century. Chapter One examines the forces that are driving this phenomenon, as well as the often passionate criticisms of the process. It reviews the objectives that firms pursue when they engage in international business activities and describes the various modes of entry that may be used. It also notes the terminology that has come into existence as new types of organizations have evolved. The chapter concludes with a discussion of the ways in which international business differs from domestic business. CHAPTER OUTLINE OPENING CASE: THE GLOBALIZATION OF PROFESSIONAL SPORTS [See Map 1.1] Although not everyone agrees that the unbridled globalization of professional sports is all for the good, the process and possibilities are definitely......

Words: 4379 - Pages: 18

Global Business

...Global Business and Ethics Paul Davis MGT/216 June 14, 2010 Paul Nesbitt In 2002, a Texas company and subsidiary of Halliburton, Kellogg, Brown, and Root (KBR) arrived in Kuwait to provide material support i.e., food services, trucks, cots, tents, gymnasiums, showers, generators, air conditioners, you name it, KBR supplied it for the troops gathering there for the 2003 invasion of Iraq. According to CorpWatch, KBR received a ten-year, no-bid contract that provided international logistical support services for the Army, known as LOGCAP, the Logistics Civil Augmentation Program (CorpWatch, 2010). While KBR held the contract, the company’s employees in Kuwait handed off the actual work to subcontractors that were hounding the KBR offices looking to get a lucrative piece of the action during wartime business. Work amounting in billions of dollars that was subcontracted led to major controversial headlines worldwide, as these questionable agreements that included $186 million in bloated overcharges that was discovered by Pentagon auditors, of the $186 million, $108 million was excessive costs. Many of the questionable contracts were carelessly written and very little or no effort was made to seek competitive offers. It seems that often times politics is separated from the ethical practices other organizations are subject to upholding as everyday principles and values. When an organization is able to profit in such an obvious way and has lead to many deaths the......

Words: 792 - Pages: 4

Global Assessment of Japan

...Global Assessment of Japan Bobbi Rieger, Chelsea Bergman, Sanam Amid-Hozour, Shirabe Yoshida University of British Columbia Okanagan In order to expand Webster Incorporated into the global market we have to consider which market would permit Webster Inc. to enter while allowing them room to grow as the competition is fierce within the faux wood industry.  Our team believes the most profitable option for a global market in regards to expansion would be Japan.  There are many reasons as to why this would be beneficial to Webster Incorporated.  Historically, Japan and Canada have had high levels of exchanges, all the while maintaining a stable relationship. Trade between the Japanese-Canadian markets has been approximately equal in terms of importation and exportation. The most important factor of this being that one of Canada's major exports to Japan is lumber. Currently, there is a trade agreement between the two; the “Innovative Japan-Canada Economic Framework” was launched in 2005 to maximize the Japan-Canada economic relations and cooperation (Ministry of Foreign Affairs of Japan, 2011). More recently, in June of 2010 the customs administrations of Japan and Canada have signed the Mutual Recognition Agreement on Authorized Economic Operator programs. This program has allowed simplified and fast-tracked customs proceedings (Ministry of Foreign Affairs of Japan, 2011). These proceedings will contribute to furthering secure and facilitated trade...

Words: 1472 - Pages: 6

Global Business

...and its former colonies, including the United States, Canada, Australia, India, New Zealand, Barbados, Saint Kitts and Nevis, and Malaysia. Common law is law based on the cumulative wisdom of judges’ decision on individual cases through history. These cases create legal precedents, which other judges use to decide similar cases. Because common law is based on the cumulative effect of judicial decisions over centuries, it has evolved differently in each common law country. Thus laws affecting business practices vary somewhat among these countries, creating potential problems for the uninformed international businessperson. For example, manufacturers of defective products are more vulnerable to lawsuits in the United States than in the United Kingdom as a result of evolutionary differences in the two countries’ case law. In addition to evolutionary differences in case law, statutory laws – those enacted by legislative action – also vary among the common law countries. For example, many business transactions between firms and the British government are shielded from public scrutiny – and the prying eyes of competitors – by that country’s Official Secrets Act. In contrast, more information about transactions between firms and the U.S. federal government is publicly available because of that country’s Freedom of Information Act. Even the administration of the law may vary. For example, in the United States the plaintiff and the defendant in a lawsuit generally pay their own......

Words: 1285 - Pages: 6

Global Business

...Global Business 2-2 Business Principals 110 5/21/12 Global Business Outback Steakhouse Outback Steakhouse first came onto the restaurant scene in Tampa, Florida in 1988 (IFG, 2012). Outback Steakhouse features a full service experience in a causal environment. The unique menu is based on the Australian Outback theme. The food is Aussie inspired, as well as the décor. Outback’s most popular items include their appetizer the Bloomin` Onion, their Victorian Filet steak, and the Outback Special sirloin (IFG, 2012). The interesting part of researching this paper is that Outback Steakhouse did not originate in Australia. Outback Steakhouse expanded into the global market in 1997 when the first restaurant opened in South Korea (Outback 2012). According to Outback’s website, there are now restaurants in 22 countries including Brazil, Guam, Hong Kong and Taiwan (Outback, 2012). There are currently 6 franchise locations in Australia (Outback, 2012). After reviewing the differences between the United States Outback Steakhouse menu and the Australian, there are some different ingredients. There are more pasta dishes, and rib dinners in Australia (Outback, 2012). In the United States, there are more salad options, and more fish and chicken dinners (Outback, 2012). I found the Australian hamburgers to be intriguing; eggs and beetroot are common items to add to your sandwich (Outback, 2012). Beetroot is a type of beet, which can be......

Words: 461 - Pages: 2

Global Business

...difference between the strategies of two companies and find out how culture or oriental philosophy influences the performance of companies. Both of these two companies are outstanding in their competitors, however, problems existing in the organizations’ structure hindered the further development. Philips, although has a strong ability in innovation and industrial research, had not been profitable in a long period of time because of its imbalanced relationship between technical and commercial, parent company and national operations. Mastushita, although has advanced corporation’s culture and once took over the market with its outstanding VCR products, was tracked by the highly-centralized operation. The two companies had to seek a balance between global expansion and core competencies. The organizational foundation of Matsushita was divisional structure emphasizing one-product- one-division. This kind of structure gave each division clear targets and responsibilities and encouraged people in the division to dedicate only on the certain product. The headquarter hold the absolute control of every divisions and offer divisions basic technology support by operating central research laboratory. However, these initial advantages gradually turned to be the obstacles that stop Matsushita to move on. Its stuck operational system seriously harmed the headquarters-subsidiary relationship, and the subsidiaries lost innovation ability eventually due to over-dependent on parent......

Words: 2298 - Pages: 10

Global Business

...What does global business mean to you? “Global Business”, means different things to different people. For me, Global business equates to working “international” (working or selling outside the home country), or doing business “multinational” ” (having representation in many nations) or “global presence” (having representation of staff around the world). Today, world is more flat and everything is interconnected. Every organization is global to some extent and it’s only a matter of understanding your individualized global experience impacts situations, opportunities, and challenges for your organization. Even if you’re only servicing a small local customer base or your staff consists of a handful of hometown citizens, your organization is being affected by geopolitical, meteorological, biological, technological and other types of trends and changes from all parts of our universe. Global awareness empowers you to proactively adapt, innovate and focus on strategic measures that drive achievement. Especially, in services and manufacturing industry, organization is distributed across the globe. People around the different parts of the globe, would be working directly or indirectly impacting your business and growth. Even one could be setup to produce all locally, but the clients could be spread all over the world. So the global or international business is impacted by international commerce/trade relations, political...

Words: 347 - Pages: 2

Global Business

...In recent years, business is being conducted across national boundaries. We can’t ignore intercultural businesses and ethical issues to conduct fairly over countries. Unfortunaly, there are so many host companies which don’t care ethical issues but also their profits. How should a global company conduct it’s business ? Globalization has many positive side such as creating outsourcing. For example, the company enjoy the benefit of power cost because of the wages in developing countries. Developing countries get access to the latest technology. In addition, globalization results in increased competition and forces companies to lower prices. Therefore customer has a chance to choose with lots of option. However, there is also negative effects of globalization. Developed countries have outsourced manufacturing and blew and white collar jobs. That means less jobs for their own people. Such as accountants have lost their jobs due to outsourcing to cheaper locations like India. Globalization causes creation of mixed standars of labor in developing countries forcing many workers to work in inhumane conditions.Safety standards are ignored. Increased job competitions results in lower wages for worker(Although this benefits consumers), lower standars of living. The globalization is not balanced to all countries across the globewhich means that the rich is getting richer and the poor is becoming poorer. The bad aspects of foreigh countries are......

Words: 950 - Pages: 4

Global Business

...Global Business Mark D. Howard BUS 452 F Global Business Professor Benjamin Tolbert Talladega College September 9, 2015 Abstract In this paper I will be discussing the different aspects of Global Business. I will define what is meant by “Global Business” and also the general international business environment. Today’s great business opportunities, and also the greatest challenges we face, are global in nature and therefore demand leaders who are also global. But what does “global” really mean? Truly global leaders act as bridge builders, connectors of resources and talent across cultural and political boundaries. They don’t just think and act global, they are global. Global Business Global business refers to international trade whereas a global business is a company doing business across the world. The exchange of goods over great distances goes back a very long time. Anthropologists have already established long-distance trading in the Stone Age. Sea-borne trading was commonplace in many regions of the world in times predating Greek civilization. Such trade, of course, was not by definition “global” but had the same characteristics. “Globalization is a long-standing program advocated by the economically advanced nations to free up international trade across the globe through treaties. It has also come to mean the relocation of production or service activities to place that have much lower labor costs. Global business in the past-or currently-does not require......

Words: 1133 - Pages: 5

Global Business

...research work successfully. Their cooperation helped us to write a good thesis paper. We are grateful to our tutor Prof. Mosad Zineldin and examiner Prof. Anders Pehrsson who have provided valuable critiques, encouraged and guided us to write the thesis paper in right direction. Moreover, we would like to thank the three mobile telecom companies which have provided valuable information in conducting the research work. Finally, we would like to thank to our family members and friends for their motivational support throughout the study. Linnaeus University, Växjö School of Business and Economics June 2014 Debashish Barua Mahmudur Rahman Chowdhury ii Abstract Title: Market Entry Mode Strategies – A study of Bangladesh Mobile Telecommunication Market for Foreign Companies. Background: Now-a-days, the forces of globalization derive firms to go to international market. When a firm thinks to expand its business outside of the home market, it needs to explore the form of operation through which it will enter into the foreign market. International entry mode research deals with this matter. (Brouthers et.al.2007). Selection of an optimal entry mode strategy is very important because it is very difficult to change or correct and have a long-term impact on the firm’s foreign operation (Pedersen, Petersen, & Benito, 2002). Actually, it is very difficult for a firm to serve in the market on a permanent basis without a well formulated entry strategy. (Pehrsson A. 2008). Market entry......

Words: 21564 - Pages: 87

Global Business

...will be more and more, and the population of 65 years and above is expected to increase to three times in 2010, which will lead to the country in 2021 to become the country's aging population. At the same time, the number of domestic children (14 years of age) will be between 7 million 850 thousand people, while the potential working population (15 to 64 years old) will rise from 19 million 350 thousand in 2013 to 26 million 600 thousand in 2041. Population increase is of great help to our economy and our products, can increase the plant and manpower. Population, on the wealth of labor resources, labor price compared to other countries was low and suitable for industrial development of labor demand. Many people, large market, is more business opportunities, many people can purchase products Malaysia demographics 1997 | 21805835 | 2.57% | 1998 | 22355057 | 2.52% | 1999 | 22896048 | 2.42% | 2000 | 23420751 | 2.29% | 2001 | 23925742 | 2.16% | 2002 | 24413795 | 2.04% | 2003 | 24890654 | 1.95% | 2004 | 25365089 | 1.91% | 2005 | 25843466 | 1.89% | 2006 | 26327098 | 1.87% | 2007 | 26813819 | 1.85% | 2008 | 27302348 | 1.82% | 2009 | 27790324 | 1.79% | 2010 | 28275835 | 1.75% | 2011 | 28758968 | 1.71% | 2012 | 29239927 | 1.67% | 2013 | 29700748 | 1.58% | 2014 | 30332860 | 2.13% | Hong Kong demographics Years | on | Population (%) | 1841 | 7,450 | — | 1851 | 32,983 | 342.7% | 1861 | 119,321 | 261.8% | 1872 | 121,985 | 2.2% | 1881...

Words: 5436 - Pages: 22

Global Business

...Stacy Schuster Global Business Assignment 2 Recently the U.S. and South Korea came to have reached agreement on a landmark trade deal. According to an article by Martha Grevatt the “landmark deal” makes modification to a previous trade agreement, KORUS, negotiated by George W. Bush and former South Korean President Roh-Moo Hyun. The preceding points in this paper will explore the differentiating views of two articles on the trade agreement, which disagree on whether the agreement is beneficial or not. A. The long awaited revision of a free trade agreement met by the U.S. and South Korea is one of the largest trade pacts “by value of traded goods” the U.S. has completed since the North American Free Trade Agreement with Canada and Mexico. According to Evan Ramstad the trade agreement with have many effects on South Korea than the U.S. as they become will continue to play a greater role in the South Korea economy and import tariffs that have been kept high to protect its climb from poverty will be rapidly eliminated. According to the text, tariffs are a tax levied on imports (or exports) (Hill, 2010). This elimination of tariffs may reduce South Korea’s surplus in trade with the U.S., but this pact is expected to contribute to an increase in trade and U.S. firms can immediately set up shop in South Korea to work on international contracts and disputes (Ramstad, 2012). The free trade area between the U.S. and South Korea aims to drop all tariffs and increase the......

Words: 1159 - Pages: 5