Issues in International Business Assignment
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Added on 2020-04-21
Issues in International Business Assignment
Added on 2020-04-21
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Issues in International Business
Issues in International Business 2ContentsIntroduction......................................................................................................................................2Detailed cultural analysis of Thailand.............................................................................................3Comparison of the business culture of Myanmar and Thailand......................................................5Hofstede's cultural analysis of Thailand..........................................................................................7Conclusion.......................................................................................................................................9References......................................................................................................................................11
Issues in International Business 3IntroductionThe purpose of this report is to offer a detail as well as sound description of the business culture environment of Thailand. Thailand is a well-known and renowned nation famous for its rapid development and innovative technologies. There is a rigorous welcome of the multinational corporations and the foreign direct investments to have huge investments in the various industries of the country (Santandertrade, 2017). The report is developed to offer information in respect with the several unique cultural aspects of Thailand which attracts the foreign companies to have their business roots in Thailand. The report will also present the various cultural differences which are their between the societies of Myanmar and Thailand. The next part of the report will offer a detailed cultural analysis of Thailand through the Hofstede’s cultural lenses bytaking sue of the cultural dimension theory. RationaleThailand is recognized as the 2nd largest economy in the Southeast Asia. There is approximately a total of 1,554 million USD FDI inward flows in Thailand in the year 2016. There are around 171 Greenfield investments which have been there in 2016. The country possess a number of attractive and fascinating factors which help in fetching the attention of the foreign companies to successfully invest and perform businesses in the various regions of Thailand (Santandertrade, 2017). One more significant factor which attracts the companies of Myanmar to have their businesses in Thailand is the safe as well as opportunistic business environment of Thailand which helps the companies to become successful and flourish. There are high opportunities for growth, innovation and development of the organisations that are performing their business in Thailand. Thailand is a nation who extremely follows Buddhism. There is a Theravada Buddhism practice which is practiced at the highest level with some part of the country following Hinduism too. In the old eras, there was military dictatorship in Thailand but in the phase after 1973, the nation was keeping a step ahead towards the developing phase where there was an end to the rule of military dictatorship (Iskander, 2013).The Thailand culture is rich and diverse in nature. The country is well-known for its famous traditional as well as for its modern culture. Thailand is a famous tourist place as there are
Issues in International Business 4number of places and things to visit comprising of contemporary culture, masked dance dramas, delicious cuisines, visual arts and the various social norms. Thailand possesses the culture of nuclear family. The male members of the societies are wholly responsible working and bearing all the expenses of ten families. The ratio of the women who are working is comparatively very less in respect with the percentage of the male members of the society. The maximum percentages of females are busy in household work only nation (Taras, Steel and Kirkman, 2012). The major percentage of the entire population of Thailand which is approximately ninety percent follows Buddhism only and the left percentage comprises of various other ethnicities andraces such as Hinduism, Christians and few other cultures (Everyculture, 2017). Detailed cultural analysis of ThailandEducationFrom the education perspective, in Thailand, it is necessary that the children must have the education which is offered in the elementary schools and then have a compulsory education of one to three years offered in the elementary schools for the children of age group seven to nine. Then after the elementary school, there is a course of next three years which is second level education and that course is in respect with the carrying on with a course of next three years for the children of age group 13 to 15. After that there are two different streams i.e. vocational and academic which the children can opt for according to them. In comparison with the female and the male members passing the university course, there are a high percentage of male members rather than female. To take admission in the colleges, university course, high schools and elementary schools, the children are required to clear the entrance tests. In the education sector of the country, there has been realized increased completion (Tiranasar, 2004). Attitudes and ValuesThere are particular attitudes are values which are possessed by the people of Thailand and there are specific rules and customs on the basis of which the people of Thailand work and so there takes place an increased level of homogeneity between the various social customs. The relationships and associations with the people are given huge importance. In Thailand, the business practices and operations are conducted with utmost flexibility and so there is rapid
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