Guidance on International Business
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1. What are the approaches international managers seek to understand when instituting change in the international arena?
2. What is culture shock and how does it affect international business?
3. What are the differences between common law, civil law, customary law, and theocratic law?
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Guidance on International Business
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What are the approaches international managers seek to understand when instituting change in the international arena?
International managers must ensure that they are capable of reopening business in a radically different environment than those they are accustomed to working in, which requires knowledge and understanding of the cultural traits within the country they are attempting to work in. Therefore, an international manager must determine the overall structure of the business and its workflow in the new international market that the business is working within while also ensuring that a functional-based business operates throughout the entire organizational structure of the business. Compliance without overall corporate practices is necessitated while the international manager is working within a new international market wherein the international manager is responsible for hiring skilled labor possessing the capabilities to perform these tasks on a daily basis. The international manager is also responsible for understanding the additional costs of globalization, such as international freight, insurance, packing (up to 12 percent of manufacturing prices), sales terms, import duties, broker's fees, inventory costs, and international travel fees that are appropriated toward the international business in the international arena.
2. What is the culture shock and how does it affect the international business?
Culture shock is the affect that different cultural traits and different ...
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