In this written assess work I will be talking about if culture differences in new markets are an opportunity or a threat to international business success. To begin with, lets start defining the word culture. ¿What does culture mean? Culture is the characteristics and knowledge of a particular group of people, defined by everything from language, religion, cuisine, social habits, music and arts.
Culture influence to international business because not all the countries have the same tastes, type of clothing, food… "Nowadays, a company’s business dealings are increasingly more international, and the need for effective cross-cultural communication has become essential: knowing a foreign culture is a long-term process of assimilation, comprehension …show more content…
In Asia, it’s seafood and fish. It’s curry in India. But half the toppings are standard offerings around the world.” explains Domino’s CEO J. Patrick Doyle.
• Ways in which cultural differences may pose a threat to international business
There are many mays in which cultural differences may pose a threat to international business. To begin with, the main problem that a company made when they internationalized is that they do not adapt global business models to the local market. When a company moves into a new country, business models should be modified to reflect local preferences, customs, and habits. For example, changes should be made to product and service offerings, pricing, and marketing.
A company that did not adapt their services to their foreign customers is EBay; this known business struggled in Japan, because they did not adjust its strategies methods according to local preferences. For example, buyers had to input their credit card information in order to make a purchase, a practice that was not popular in Japan at the …show more content…
Before entering in new markets you should find out what kind of documents you need, to avoid bigger problems. Mc Donald’s has this type of inconvenienced in Jamaica, the high barriers and the slow economy did they closed all the restaurants on the island.
Thirdly, another factor that may pose a threat to international business is the lack of planning. Some companies jump into foreign markets without a solid plan of action. They don't research the new markets; don't assess differences in local versus global strategies. Companies sometimes have pulled out of global markets because they went in without a
Culture influence to international business because not all the countries have the same tastes, type of clothing, food… "Nowadays, a company’s business dealings are increasingly more international, and the need for effective cross-cultural communication has become essential: knowing a foreign culture is a long-term process of assimilation, comprehension …show more content…
In Asia, it’s seafood and fish. It’s curry in India. But half the toppings are standard offerings around the world.” explains Domino’s CEO J. Patrick Doyle.
• Ways in which cultural differences may pose a threat to international business
There are many mays in which cultural differences may pose a threat to international business. To begin with, the main problem that a company made when they internationalized is that they do not adapt global business models to the local market. When a company moves into a new country, business models should be modified to reflect local preferences, customs, and habits. For example, changes should be made to product and service offerings, pricing, and marketing.
A company that did not adapt their services to their foreign customers is EBay; this known business struggled in Japan, because they did not adjust its strategies methods according to local preferences. For example, buyers had to input their credit card information in order to make a purchase, a practice that was not popular in Japan at the …show more content…
Before entering in new markets you should find out what kind of documents you need, to avoid bigger problems. Mc Donald’s has this type of inconvenienced in Jamaica, the high barriers and the slow economy did they closed all the restaurants on the island.
Thirdly, another factor that may pose a threat to international business is the lack of planning. Some companies jump into foreign markets without a solid plan of action. They don't research the new markets; don't assess differences in local versus global strategies. Companies sometimes have pulled out of global markets because they went in without a