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The organization that you work for is interested in expanding their business overseas. You have been asked to gather some preliminary information to help management decide on whether to pursue this idea further.

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Introduction

Individual Project Rebecca Masters Professor Jean Gordon September 3, 2004 The organization that you work for is interested in expanding their business overseas. You have been asked to gather some preliminary information to help management decide on whether to pursue this idea further. Search the Cybrary or other online resource and find an article describing an experience of either: (1) a US company or division that conducts business in a foreign country; or (2) a company or division based in another country which has started doing business in the United States. Perform searches on "joint venture," "licensing," or "strategic alliance." Based on your research submit a three page document to the managers of the organization which answers the following set of questions: 1. Was the company's experience positive, negative, or mixed? Justify your answer. 2. What legal or political barriers did the company have to overcome? ...read more.

Middle

Market researchers can uncover needs for product adaptations, potential name problems, promotional requirements, and useful market strategies. Food research may even uncover potential translation problems. As you can see, doing business in other cultures can be risky if you're unprepared. However, awareness of differences, consultation with local people, and concern for host-country feelings can reduce problems and save money. In dealing with international business you should know about licensing, strategic alliance, and joint venture. Licensing is an agreement to produce and market another company's product in exchange for a royalty or fee. Strategic alliance is a long-term partnership between two or more companies to jointly develop, produce, or sell products in the global marketplace. Joint venture is a special type of strategic alliance in which two or more firms join together to create a new business entity that is legally separate and distinct from its parents. ...read more.

Conclusion

Who makes decisions? How negotiations are usually conducted? Is gift giving expected? What is the proper attire for a business meeting? In addition to the suggestion that you learn about the culture, seasoned international business people offer the following tips for improving intercultural communications: Be alert to the other person's customs. Expect the other person to have values, beliefs, expectations and mannerisms different from yours, Deal with the individual. Don't stereotype the other person or react with preconceived ideas. Regard the person as an individual first, not as a representative of another culture. Clarify your intent and meaning. The other person's body language may not mean what you think, and the person may read unintentional meanings into your message. Clarify your true intent by repetition and examples. Ask questioned and listen carefully. Adapt your style to the other person's. If the other person appears to be direct and straightforward, follow suit. If not, adjust your behavior to match. Show respect. Learn how respect is communicated I various cultures-through gestures, eye contact, and so on. ...read more.

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