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Opportunities/Risks of Business in Foreign Countries

Using your own personal international business experience; a colleague's personal international business experience; research on the Web; or readings: What are some common mistakes new Vice-Presidents of International Sales make, such as PM Company's VP, and why? Be sure to cite specific companies and include web links or books you used in your research, if available, so others may become familiar with these resources. Do not use the classic example of Chevy Nova (nova meaning "no-go").

- Summarize the opportunities and risks of doing business in foreign countries.
- Explain how differences between foreign and domestic environments impact the conduct of business.

This only needs to be a brief response.

Solution Preview

Common mistakes new Vice-Presidents of International Sales make:
- Paying not enough attention to cultural differences.
- Overlooking long-term opportunities, while eager to get short-term benefits.
- Underestimating the importance of periodic (once a year, for instance) personal contacts and meetings at high levels.

My ...

Solution Summary

This solution is comprised of a brief, 170 word response which discusses the differences between foreign and domestic environments and their impact to conducting a business, with a large focus placed on communications. One reference is also included.

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