Sample Research Paper
The face of business is changing rapidly and globalization is the most probable answer to some of the problems faced by businesses. With the world shrinking into a village, easy communications and efficient logistics it is no wonder that businesses think internationally.
By going global, a business caters to a larger market increasing the probability of higher revenue and thus more profit. But this greater exposure and a market does not come at a low price. Companies decide to globalize if their competencies are relevant, appropriable and transferable to the foreign markets, but it should also be ensured that these competencies can withstand the barrage of challenges that new markets pose.
Globalization and entering a foreign market comes with its pack of challenges. There are political, legal, social, financial, economic and environmental barriers which the company will have to cross to create its niche in a foreign country. Getting through them once does not guarantee success as every different region of the world and every different country will pose a barrier of a different kind and a separate analysis and planning will have to be done for each market. A study of US multinational corporations found out that poor intercultural management skills still constitute a major management problem. (Deresky,1996)
Even in countries where language does not present a barrier, slight cultural changes and differences in dialect and verbal representations, nonverbal gestures and assumptions can create challenges. This can be represented by the fact that the number one billion in the US is one thousand million in the UK. Non-verbal gestures also play an important role in business communication. Eye contact is a symbol of confidence in many Western countries but in Asian countries or in Mexico it is a sign of disrespect. Bowing is considered to be a sign of submission in most countries but again in countries like Japan it signifies initiation and ending of conversations. (Ferraro,2007) Thus, knowledge of the minute cultural, verbal and nonverbal details will ensure that cross-cultural communication does not lead to misunderstandings.
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