ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Do we have the correct multinational management in place?
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Are we sensitive to the cultural differences of conducting international business?
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Can we find an appropriate international partner for this venture?
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What non-tariff barriers do we have to be prepared to overcome?
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Detailed explanation-1: -The importance of being sensitive, open, and flexible to the customs of another culture when conducting global business leads to better communication and fewer misunderstandings, which can lead to more success. Companies should adopt the local language, so to speak-sometimes literally.
Detailed explanation-2: -What are the major cultural factors that affect international business? The major socio-cultural factors that significantly impact international businesses are culture, etiquette, religion, language, customer preferences, education level, customs and taboos, and attitude towards foreign goods and services.
Detailed explanation-3: -Embrace diversity and accommodate cultural differences. Promote open communication. Lead open discussions about team norms and shared company culture. Rally the team around a shared vision or common cause. Leading cultural diversity as a global leader.
Detailed explanation-4: -Looking At TAM And SAM. Customizing Your Offer To The Market. Considering Cultural Differences. Hiring An International Team. Researching The Country’s Language Knowledge. Being Available Across Time Zones. Knowing The Product Value To International Countries. Understanding Customs, Culture And Desires. More items •10-May-2022