Briefly discuss the reasons why the various elements of culture might increase the cost of doing business in a country. Review the website www.executiveplanet.com.
Choose two countries that are culturally diverse. Compare and contrast the cultures of the two countries and discuss the ways in which the differences in culture, business practices, and ethics will affect the cost of doing business in each.
You may use additional references to help you answer the questions (APA format is required).
Various cultural elements might increase the cost of doing business in a country for several reasons. In some societies, such as Japan and the United States, people desire less leisure time than in others, such as Europe. Maslow's hierarchy of needs also states that people will try to fulfill lower order physiological needs before satisfying higher needs like security, affiliation, esteem, and self actualization needs. This can have an effect on how employees in different countries rank their needs differently, and thus affects the cost of doing business in different countries. There are also some adjustments to foreign cultures that may be costly to undertake, such as in Egypt, where workers will work only six hours a day during the holy month of Ramadan, which would affect productivity, and time of business deals as well. Many countries have different expectations for providing gifts, for instance, in Japan; gift gifting is an important part of business protocol. In addition, gifts are exchanged among colleagues on July 15th and January 1st to commemorate midyear and year-end. Traditionally Spaniards go on holiday for the month of August, which can dramatically increase the cost of doing business in the country.
China & the United States: Compare & Contrast:
In comparing China and the United States, one of the differences I noted on www.executiveplanet.com was that Chinese insist on knowing much more about upcoming appointments than we do in the United States. The site suggests Chinese want to know with whom they will be meeting, details regarding titles, positions, and responsibilities of attendees ahead of time as well as the proposed agenda, at least a week in advance In contrast, meetings in the United States are often scheduled without much warning, and often without much planning. This can result in an increased cost of business for Americans, who will need to spend more time planning out meetings in advance and setting agendas.
In the ...
This solution discusses the reasons why the various elements of culture might increase the cost of doing business in a country with a review of the website www.executiveplanet.com.
It chooses two countries that are culturally diverse and compares and contrasts the cultures of the two countries to discuss the ways in which the differences in culture, business practices, and ethics will affect the cost of doing business in each.
Additional APA references are included.