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Cultural Challenges Of Doing Business Oversees Abstract Cultural challenges are a big part of life. When one decides to create an idea that is not centered in their
cultural challenges Introduction "Culture in a global economy is a critical factor in international business. While many business transactions make economic sense,
Cultural Challenges of Doing Business Overseas The Cultural Challenges of Doing Business Overseas Doing business overseas has its rewards, as well as its challenges.
Cultural Challenges of Doing Business Overseas Introduction A major challenge of doing business internationally is to adapt effectively to different cultures. Steve
Cultural Challenges of overseas business The Cultural Challenges of Doing Business Overseas XXXXXXXXXXX The Cultural Challenges of Doing Business Overseas Steve
Submitted by bayo2007 on March 25, 2007
Category: Business
Words: 8051 | Pages: 33
Views: 851
Popularity Rank: 10,105
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Introduction
"Culture in a global economy is a critical factor in international business. While many business transactions make economic sense, the ability to successfully fulfill profitable relationships often depends on being able to reconcile international differences arising from separate cultures."(Wong, n.d., p.1) "Understanding cultural differences is an initial step, but managers also need to engage in learning processes to develop international cultural competence. Cross-cultural training enables managers to acquire both knowledge and skills to fulfill the role of cultural agents."(Wong, n.d., p.1). Advancing cultural intelligence and international cultural competence is critical to the future success of managers and leaders working in a global context. (Wong, n.d., p.1).
In these pages, I will analyze the cross-cultural differences between the United States and Czech Republic, determine comparative advantages in this country, and recommend ways to minimize the risks of establishing a franchise overseas.
According to the web site http://www.allbusiness.com, "franchise is a legal and commercial relationship between the owner of a trademark, service mark, trade name, or advertising symbol and an individual or group wishing to use that identification in a business." (Allbusiness, n.d., ¶1)
Each franchise business has been authorized by a parent company, or franchisor, to sell their goods and/or services either in a retail space or a designated geographical area. The franchise governs the method of conducting business between the two parties. Generally, a franchisee sells goods or services supplied by the franchisor or that meet the franchisor's quality standards. This relationship is regulated by FTC laws. (Allbusiness, n.d., ¶2)
The popularity of the franchise business model has to do with its proven track record of success and ease in becoming a business owner. Independent, non-franchise businesses have a...
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