Diverse International Business Practices

The cultural behaviors of the “American” or “Japanese” in the video do not accurately reflect business behaviors in these countries so please do not generalize based on the video. The video is meant as a classroom exercise to analyze a specific cultural encounter. Total 20 points.

Although, the Japanese business culture involves a more democratic and participative approach to the decision making process by seeking consensus based on who’s allowed at the table. There is a strong seniority system, stresses in rank, and the upper level management is tasked with looking after employees, which influence relationships dynamics. Moreover, the person with the highest status usually speaks first and has more influence. (Deresky, 2014) While in Mexico, the authoritative hierarchical decision making process where lower level employees are not involved and it would be seen as inappropriate. Moreover, the employees have confidence in the credibility of the manager and therefore their decisions. (Commisceo Global, 2017)

This paper provided an opportunity to take a deeper look into the country of Japan by conducting a Global Cultural Analysis. Throughout this paper the following four research areas were explored: 1.What is the major elements and dimensions of culture in Japan? 2. How are these elements and dimensions integrated by locals conducting business in Japan? 3. How does U.S. culture and business compare with the elements and dimensions of culture integrated by the locals conducting business in Japan? 4. What are the implications for U.S. businesses that wish to conduct business with Japan?

T2 (Tea Too) is a tea heaven, a tea-lovers’ heaven. It is a premium brand established in 1996 in Australia over 18 years ago and cherished internationally by all tea devotees. It has 60 stores throughout in Australia, New Zealand, the United Kingdom, and America. However, the first retail outlet is located in Brunswick Street, Fitzroy. Maryanne Shearer is the creative director of T2 - Australia’s leading tea retailer, with largest range of tea and tea wares in Australia. It offers the country’s largest range of premium, fragrant tea and tea wares from all around the globe. Tea devotees can spend hours at their taster table, trying all the different types of hot and cold teas they have come up with. It’s

relational and contractual whilst those in the US are more formal and contactual (Gibbons, 2001). Similarly, as I said in a previous essay, US companies have a lower degree of legitimacy than Japan “to act as

     Cultures are varying among different parts of the globe. People with different cultures have different characteristics and viewpoints on the subjects due to diverse understanding and method of learning. During the past few decades, the international trade grows in a very rapid rate due to the advantages that it provides; “increased sales, operational efficiencies, exposure to new technologies and broader consumer choices” (Heslin). Therefore, when considering the culture aspect to current business world, it is crucial for business to understand the culture aspect because of the tremendous growth of international business as well as utilize the international market to its maximum

One of the most important facets for a successful business in the twenty-first century is how it communicates with their customers, partners, suppliers and governments from different countries and cultures from around the world. For a business to operate with any modicum of success in Japan, you must possess a basic understand of how their society functions. As a result of learning about the geography, climate, history, religion, cultural rituals, politics, education system, and the role of the family; it will allow a business or business person the insight needed to understand how society functions and the method in which business is conducted.

Culture is a very important value that is often misconstrued with a foreign country. You have to understand the local law and its role in their society. Americans often think that because Japan has very little litigation, Japanese companies are not concerned about contracts and legal rights. That is an enormous cultural misunderstanding that can lead to major business mistakes. Japanese businesses are very legalistic and concerned with preserving their rights - though they are not litigious, in part because the Japanese court system is slow, expensive and cumbersome.

The working culture in the United States is a more formal type of working culture with low power distance. In the U.S. equality is shown between both the genders in the industry. A more direct form of communication is used and they come straight to the point. The working culture is more of a risk taking culture. The U.S. compared to other countries have a high sensitivity to time, they are on time for their work and meetings.

International business contains all business transactions private and governmental, sales, investments, logistics, and transportation that happen between two or more regions, nations and countries beyond their political limits. Generally, private companies undertake such transactions for profit governments undertake them for profit and for political reasons. It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources includes capital, skills, and people. for international production of physical goods and services such as finance, banking, insurance, and construction.

A society 's social structure refers to its basic social organization. Two dimensions stand out when explaining differences between cultures. The first is the degree to which the basic unit of social organization is the individual, as opposed to

In Japan, culture and manners are highly regarded. The Japanese are concerned about manners, and they like to follow very strict rituals with all manners of communication. Many of these rituals are hard for foreigners to understand, but it is important to know that not one culture is right. If you are traveling to another country you should be respectful of the different customs, and do your best to follow them. It is especially important in business. If you want to do business with the Japanese then you need to show respect, and the only way to do that is to follow their traditions. Japanese rituals are embedded in the Japanese culture and cannot be changed. It is very easy to disrespect the Japanese. If you are not careful you could ruin your chances of doing business with them.

Diversification is a method of investing that been shown to increase portfolio return while reducing portfolio risk as measured by standard deviation. This method specifically increases the efficient frontier for investors. The challenge to an investing firm is an appetite by its customers for an ever increasing efficient frontier. One area to explore to obtain this increase is through further diversifying through international diversification.

When moving into the Japanese market, the company will have to be very aware of formalities and cultural variables. Japan has a long history of tradition that carries over even to business dealings, so the American way of marketing business

The global marketplace increasingly favors specialty platforms for B2B eCommerce sales, and companies can now design their own international marketplaces or sell on multiple platforms to extend their marketing reach. It’s valuable to leverage these sales, marketing, lead-generating and commission-generating opportunities, but success depends on how well a business handles the challenges of marketplace sales. Specifically, successful companies speak contextually to an audience of varying interests, nationalities and purchasing habits.