The scenario of this report is going to discuss global level business activities that can influence business decision making.
- Discuss interaction between culture and internet, identify operational conflicts and stereotype culture.
- Evaluate global business communication practices by considering some examples.
- Describe risk tolerance and negotiation approach of individuals in different situations.
- Analyze merits of entry strategies as well as emerging opportunity and threat for a firm that decide to move globally.
- Evaluate cross-border activities and how they influence business decision making.
International management means when management of a company conduct their business operation and activities in more than one country (Bartlett and Beamish, 2018). It requires skill and knowledge above and beyond normal business expertise such as understanding of local laws and customs in which the company is mainly operating, familiarity with business regulation of respective country and deal with multiple currencies transaction simultaneously. The report includes how culture and internet interact, role of social media in global business communication, difference in risk tolerance around the globe and affect of strategic implementation on business operation.
1. Discuss how the Internet and culture interact. Which most affects the other and how? Give some examples.
With the global pace of internet connectivity, culture values are at a treat from getting weaken or demoralized. Now a days, Internet is having more impact on culture and as a result personalities of individual have changed (Bartlett, Beamish, 2018). Thus, it can be said that if culture is embedded into the Internet it can be considered as one of the best option in today's era. For example: In travel and tourism industry, Internet is playing significant role in improving their sales and profit figures. Also it help in selling their culture to all across the world which now viewed as a global village. For example: In Nigeria, people living in urban region don't have enough opportunity and time to learn their cultural values but with the help of internet and media they are easily gaining knowledge regarding Nigerian culture and value. In-fact now they don't have excuse to say that they have lack of time or opportunity. In short, Internet has open gate for ample opportunities that needs to exploited by country and its members (Brewster, 2017). Taking the advantage of this, people have Nigeria have created a website called Nolly-wood through which everyone across the globe can watch their cultural teaching movies through the Internet (Brewster, 2017).
2. Discuss the types of operational conflicts that could occur in an international context because of differences in attitudes towards time, change, material factors, and individualism. Give examples relative to specific countries.
Time: One of the important element of good character is Punctuality. It has been believed that if an individual is always on time for his appointments it represents that the person is showing real consideration for others which is actually good. Because person who come late, losses maximum opportunities. In North America, if person fails to reach on time for an interview, it immediately gives bad impression no matter what reason they are giving and are not likely to get employment.
Change: We live in a era where everyday a new change takes place and people successfully embrace change rather than trying to fight against it (Dheer, Lenartowicz and Peterson, 2015). But some time is hard for people to adapt themselves as per the change. For example: It is difficult for Japanese people to embrace change because adapting any small change may affect their whole body.
Material Factors: Because of culture backgrounds differences, individuals from different culture have different attitude or perception towards the nature. For example American people often value status symbols and physical goods (Geppert, Matten and Williams, 2016).
Individualism: It means ability of a person to take initiative and work independently. However there are certain countries that promote team work. For example: Chinese people advocate team spirit.
3. Identify five stereotypes that foreigners typically hold about Australians. Why do you think they might hold these stereotypes? Identify five cultural stereotypes that you hold (about foreign cultures).
The level of perception and thinking of every person is vary from one another and they have enough abilities and guts to use their perception and thinking for the sake of their entity and country as well. Stereotypes can be defined as an error in which people have distinctive thinking against a special community or an individual (Latukha, 2015). Some of the example of stereotypes that foreigners hold about Australians are rude, egoist, punctual, non-friendly,high criminal rate. The main reason behind holding this stereotypes is because of their culture and attitude. This is the only reason why Australian players are so rude. In context of foreign culture, three stereotypes we have is dedication, trustworthy, friendly, loyal, optimistic (Raj, Griffin,2015).