Doing business internationally is very involved because there are a number of factors that must be kept in consideration; such as international rules and regulations for the foreign country to which you are doing business, as well as the host country. These issues may differ from country to country; however they exist. Such as; currency differences, taxation, culture differences, language barriers, and economy uncertainty. There are other complications that may hinder a business success as well. For example, a business may not be restricted in one country, but restricted in the other country.
Culture plays a major role in international business, especially if the business is currently new in that country. It is important to be extra careful not to offend the resident in that country. The problem to that, it may not be intentional. A good example could be the Victoria Secret issue that was on the news recently. Personally, I don’t see anything wrong with what the model was wearing, but this is a culture issue.
As I stated above every culture is different; however, being aware of culture sensitivity is important especially in international business dealing. For instance, gesture, and symbols may have different meaning for different culture; therefore, they may be interpreted differently.
Are you ready for your international business now? Let me know about it.
Marie L. M.