doing business in a foreign country
... the economic situation in the land is what you should examine and according to it estimate if it is worth entering the country’s market or not. On the other hand economy does not always reflect the real situation on the national market.The GDP of a certain country for example could be a very confusing index:if you analyse a small country like Belgium,it is understandable that it does not have much high national income.This applies also to other economic indexes like the inflation rate or the unemployment for instant which of course alert investors for caution but should in no case discourage them from doing business in an unstable economic situation.After all,it is not the economy but the possibility to charge revenues that concerns you.And if you can potentially realise profit,why not doing business on a foreign market. Even if economy is a crucial factor for taking business decisions,culture could be of great importance.Many unsuccessful attempts have proved it.In what extent should you be familiar with certain culture in order to deal with international business?Answering this question requires an explanation of another one:“What is culture?“In my opinion deals with the history,traditions,manners and habits of people,their way of thinking,ethics and prejudices.Culture is what makes people a nation - one that is original and different from other nations. A company aiming success in international business should always have in mind the cultural difference between people and supply them with products and services according to their individual needs and tastes.Otherwise it could experience losses and failure:there are enough examples from the business world that can prove this.Many companies like for example the one that sells the world’s most beautiful and beloved dolls - Barbie had to change totally the image of their product and its advertisments because of the cultural divergence.The company wanted to introduce Barbie on the Japanese and Turkish markets.At first it supplied both markets with the cute,blond and blue-eyed Barbies which turned out to be not so cute and beautiful in the eyes of the residents.To make its way on both markets the company had to alter totally the outlook and clothing of th...