How to Win Emerging Market (Harvard Business Review)

There are many opportunities available for companies willing to venture into new, international markets. Reaching more customers and therefore, turning a larger profit are two fairly obvious reasons for companies to consider global expansion. However, the potential benefits do no end there. Expanding to international markets can hold less obvious, yet extremely beneficial appeals such as access to new and different talent pools, grander output requires great advances in efficiency, and international expansion can, in some cases, aid in “future proofing” the company.

There are significant cultural differences between Japan and the United Kingdom that need to be taken into account when doing international business. There are also a number of methods and systems by which these differences have been described. These include the Geert Hofstede cultural dimensions, Trompenaars seven dimensions of culture and the Globe Project's cultural dimensions. This paper will discuss these differences and similarities, and shed light as to the best approach to international business in these countries.

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?

Another advantage of this article is that it is well written, in a neatly structured way, while using clear language and maintaining the reader’s attention. After reading the article the reader will have a better view of the success of Samsung, which strategy was used and how Samsung executed this strategy. Enough background information about Samsung is provided to help create a better general understanding of the company. This article also clarifies that if a business wants to be globally successful, it has to adopt various divergent practices. Therefore, this article is relevant to the content of introduction to international business as the international problems which Samsung faced are explained alongside the solutions. Furthermore, this article is quite recent (2011) and is about emerging economies, which is still current in our global economy. Another aspect is that the authors added extra information such as images with useful content clarifying the combination between the Western system and the Japanese system. Unfortunately, the article also has a few aspects which were not as satisfying. To begin with, nearly all the content discussed in the introduction is covered in the following text, which is great. However, there is not much more information about the paradox of Samsung’s rise discussed in the text after the

Japan’s business culture is regarded as one of the unique in the entire world. One of the reason behind their uniqueness is that; Japanese live in long term orientation oriented societies. Japanese see their life as a very short moment in a long history of mankind. They want to do their best in their life time and that is all what they believe in. Japanese live their lives guided by virtues and practical good examples. They all serve the durability of the companies. The idea behind it is that the companies are not here to make money every quarter for the shareholders, but to serve the stake holders and society at large for many generations to come. On the

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

Specifically, this work takes a glimpse into the culture of Japan as it relates to certain aspects that greatly effect international business. Secondly, there will be a discussion of how Japan is conducting its business internationally and how aspects of Japanese culture lead to either their success or failure on the international business stage. Thirdly, there will be a comparison as to how the cultural differences between Japan and the United States can be a barrier to successful trade and business and specific items that companies from the United States need to keep in mind when conducting business in Japan. Fourthly, there will be an examination of special considerations to keep in mind when conducting

For distributors in emerging markets seeking to sell multinationals 'products, my research findings are alarming. In the eyes of many corporations, the independent distributor is an endangered species. Virtually all executives of multinationals I interviewed bemoaned the lack of strategic marketing by distributor organizations, and many predicted that the gradual globalization of competition would lead to the disappearance of many such distributors. The track record of distributors in new markets seems to support this bleak view: in thegreatmajority of cases, multinationals bought or fired their distributors at some point during the partnerships or created their own direct-sales subsidiaries. In only 5% of the 250 cases I studied, multinationals switched to new distributors. A few distributors have managed to continue as representatives of multinationals over the long run (in some cases, for more than ten years). Most, it 's true, were located in countries not considered strategic by the multinationals-a characteristic over which the

For many firms, seeking for new countries’ markets is the mainly attempt to spread their products or services into the foreign markets, and the firms will retain and construct their participation in present markets to increase their worldwide competitive force (Doole and Lowe, 2012, 218; Hollensen, 2007, 5).About market , there is no perfect market entry plan and different market entry methods might be adopted by different firms entering the same market and/or by the same firm in different markets (Bukley, 1985).

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.

One of the major barriers that the companies need to consider are cultural barriers and merging very distinct business cultures together as any merger/acquisition will be quite complex to properly implement. The process can be confusing for not only management but employees as well because they will have to learn all of their roles as each company and country as their

There are always business risk when it comes to expanding a company, especially from an international standpoint. There are many strategic risk that needs to be evaluated in order to expand the company successfully. Examining the possible risk of foreign currency exposure, basic functions of international banking/financial market, support of long term financing of operations, and assessment of opportunities that can be implemented within the company. There are risk on three dimensions of international finance, economic trends of the country, impact of globalization and monetary system. All of these situations will be discussed in this paper.

One of the issues will be the integration of the two companies seeing as they are operating in two dissimilar segments within the same industry. Our Chief Operating Officer is quite concerned that the synergy of the two company’s operations and cultures won’t be realized and believes that the acquisition will result in an expensive experiment that will undermine shareholder value. I share his concerns and feel that this issue must be addressed if the integration of our two companies is to be successful.

economic force change is needed to get the economy running at the levels it once

According to the works of Chaney & Martin (2011) and Harris & Moran (2000), they agree that international management skills are in need for the increasing scope of international trades and investments. A large number of multinational companies have expanded their businesses through both developed and developing countries. Some of the business invest directly and others are partnership arrangements and strategic alliances with domestic operations. Their studies show that independent entrepreneurs and small businesses have started investing and competing in the world marketplace. Thus, to acquire corporations’ objectives, there is exceedingly a necessity for the development of strategic framework for cross-cultural management and communication in the current competitive global market. Chaney & Martin (2011) also noted that, cultural awareness and cultural differences are strongly important to the multinational corporations’ success. A good understanding of the culture where business is implemented can make international managers productive and effective.