The Success Of An Overseas Business Venture - 1968 Words

When a company is conducting business internationally, understanding the culture of the country or region, it is doing business with, as well as making sure the business fits the culture where it is doing business, is extremely important. Not understanding the culture could mean that the product or service affects the competitiveness, marketing, and could even have some political ramifications. An understanding of the country’s language, attitudes and beliefs, religion, material culture, social education, legal characteristics, and political structures can have a positive impact on the success of an overseas business venture. In order to run a successful international business, a business manager must also become a student of culture and diversity. Before choosing a global market to sell a product or service, a company needs to make sure that the product or service is a good fit for the culture. It is important to know if the product or service is something that the culture of the country would need or want. As an example, if a company sells cowboy hats, they are not likely to be very successful in a country where the culture and religion requires the people to wear turbans. Knowing the culture and its religions is important when choosing a country for as a global market. To be successful, a company will want to know that its product or service will sell, and being successful in the United States does not necessarily mean that a product or service will do well in otherShow MoreRelatedAdvantages And Advantages Of Global Business Essay1416 Words   |  6 PagesGlobal business is a thriving economical industry where goods and services are bought and sold across a number of countries. A key factor of International trade is the degree that currency and exchange thrive as the rates rise and fall. 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