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Essay / Research Paper Abstract
This 3 page paper outlines the way in which different factors may impact on international trade, giving examples of that impact. Factors considered include social, cultural, economic, legal and political differences. The bibliography cites 5 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEintertrade.rtf
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or organisation within these cultures will undertake trade. By looking at some of these factors independently we can assess how they may be of importance and why it is necessary
for any international company to understand. Social difference may be of importance, as these are at the basis of the society. For example, looking a the east there is a
very different social status given to men and women and different social actions are seen as necessary. By understanding these differences negations may take place more efficiently, a company seeking
to negotiate with an understanding. This not only eases the way the relationship develops, but also shows commitment to the deal by taking time to assess the differences. There
are many examples, for example, McDonalds in some areas in different countries will make use of Halal meat in order to sell their food, I other areas companies such as
ICI or Johnson and Johnson there are different social standards and requirements which will also impact on the way that a company will need to treat their employees.
Cultural influences may be seen as a part of the social influence, but this is slightly different. The culture will embody the aspects such as morals, ethics and the use
of tools such as empowerment (Veiga, 1993). For example, in Muslim cultures there are greater power distance relationships and the level of entrepreneurship is different, this will indicate the need
to adopt different techniques when setting up companies as well as showing how communications may be different (Dodd, 1998). Formality is very important to the Japanese, whereas to the Spanish
it is cultural demanded that negotiations take time, and deals may not be governed by the clock, as well as a far more tactile approach is required. The economic
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