The Importance Of International Business

1511 Words 6 Pages
International business is easier and more important than ever. In the world 's current economy, global business has become just as much a part of entrepreneurship as marketing, and should be the ultimate goal for expansion. That being said, international business offers insurmountable job opportunities, where success is attained by expanding your company’s income resources by going beyond borders. Expansion will always present several barriers and factors to work through, but the complexity of a business plan and extensive research will eventually weigh out with the triumph of your business.
Therefore, the first step in expanding internationally is to educate oneself in all aspects of global business. This type of education can be done
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The main cultural principle that affects business, and probably the most common reason for hostility that results from cultural difference, is quality of life orientation. The countering sides are choosing to priorities the career success or the individual quality of life. Culture context is another way that you can better cater to the routines of another country. Cultural context is explain on a scale where some parts of the country have low context and some parts of the country have a higher cultural context. Low context countries make it as clear and plane as possibly to understand what they want in a conversation or in a business meeting, but high context countries leave it up to the person receiving the information to understand what is desired from them. This is a common source of miscommunication because high context countries think that someone of a low context country is questioning their intelligence by giving very clear and precise instructions on what needs to be done. An example of a high context country is Japan, and a low context country is Germany. Lastly, and possibly most obvious, is to understand basic cultural customs that are typical of the country. This could pertain to language, clothing, body language, and religion. Respect the countries customs and become well studied in …show more content…
Barriers of various extremities are present, but the first one to recognize is fully understanding the government regulations of both sides when beginning your expansion. Unpredicted taxes of another country, also known as a value-added tax is just one example of an unexpected fee that could arise when expanding to another country. Every country has a unique set of tariffs, or taxes on imports and exports, that international business entrepreneurs should be aware of. This is especially true in bulk transports of goods. On top of this there is an entire myriad of regulations pertaining to the welfare of the environment here, in the United States that are not present in other countries. This is true for other ethical dilemmas, such as, minimum wage and employee benefits. To ignore these differences, and to act unethically, could result of loss in business if the media becomes savvy of undesirable business dealings. This is certainly considered a barrier, because it is easy to justify the acts when they are not necessarily against the

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