Issues in International Business Assignment

Added on - 21 Apr 2020

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Issues in InternationalBusiness
Issues in International Business2ContentsIntroduction......................................................................................................................................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 Business3IntroductionThe purpose of this report is to offer a detail as well as sound description of the business cultureenvironment of Thailand. Thailand is a well-known and renowned nation famous for its rapiddevelopment and innovative technologies. There is a rigorous welcome of the multinationalcorporations and the foreign direct investments to have huge investments in the variousindustries of the country (Santandertrade, 2017). The report is developed to offer information inrespect with the several unique cultural aspects of Thailand which attracts the foreign companiesto have their business roots in Thailand. The report will also present the various culturaldifferences which are their between the societies of Myanmar and Thailand. The next part of thereport 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 2ndlargest economy in the Southeast Asia. There is approximatelya total of 1,554 million USD FDI inward flows in Thailand in the year 2016. There are around171 Greenfield investments which have been there in 2016. The country possess a number ofattractive and fascinating factors which help in fetching the attention of the foreign companies tosuccessfully invest and perform businesses in the various regions of Thailand (Santandertrade,2017). One more significant factor which attracts the companies of Myanmar to have theirbusinesses in Thailand is the safe as well as opportunistic business environment of Thailandwhich helps the companies to become successful and flourish. There are high opportunities forgrowth, innovation and development of the organisations that are performing their business inThailand. Thailand is a nation who extremely follows Buddhism. There is a TheravadaBuddhism practice which is practiced at the highest level with some part of the countryfollowing Hinduism too. In the old eras, there was military dictatorship in Thailand but in thephase after 1973, the nation was keeping a step ahead towards the developing phase where therewas 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 famoustraditional as well as for its modern culture. Thailand is a famous tourist place as there are
Issues in International Business4number 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 ofnuclear family. The male members of the societies are wholly responsible working and bearingall the expenses of ten families. The ratio of the women who are working is comparatively veryless in respect with the percentage of the male members of the society. The maximumpercentages 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 ninetypercent 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 theeducation which is offered in the elementary schools and then have a compulsory education ofone 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 leveleducation and that course is in respect with the carrying on with a course of next three years forthe children of age group 13 to 15. After that there are two different streams i.e. vocational andacademic which the children can opt for according to them. In comparison with the female andthe male members passing the university course, there are a high percentage of male membersrather than female. To take admission in the colleges, university course, high schools andelementary schools, the children are required to clear the entrance tests. In the education sectorof 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 thereare specific rules and customs on the basis of which the people of Thailand work and so theretakes place an increased level of homogeneity between the various social customs. Therelationships and associations with the people are given huge importance. In Thailand, thebusiness practices and operations are conducted with utmost flexibility and so there is rapid
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