Managing Across Borders: PDF
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Added on 2021-06-17
Managing Across Borders: PDF
Added on 2021-06-17
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Running head: MANAGING ACROSS BORDERSManaging Across BordersName of the Student:Name of the University:Author’s Note:
1MANAGING ACROSS BORDERS Executive SummaryThis report will discuss about the socio-cultural factors which affect the business of thevarious business organizations through the banking organization Commonwealth Bank whichis operational in the nations of Australia and China. The report will begin by introducing theorganization and give a brief overview of the social and the cultural differences between thenations of Australia and China. Finally, the report will conclude with the implications whichthe managers can derive from the differences in cultures and social backgrounds of the twoand the way they can use these differences to further enhance the prospects of their business.
2MANAGING ACROSS BORDERS Table of ContentsIntroduction................................................................................................................................3“Commonwealth Bank of Australia”.........................................................................................4Socio-Culture of Australia.........................................................................................................5Socio-Culture of China..............................................................................................................7Implications for managers..........................................................................................................9Conclusion................................................................................................................................11References................................................................................................................................13
3MANAGING ACROSS BORDERS IntroductionThe process of “globalization has transformed the entire world into a global villagewhere the business organizations from the various different nations of the world can transacttheir business” (Taras, Steel and Kirkman 2012). The “concept of globalization in the specificcontext of the business world gained prominence in the later part of the 19th century” with theintroduction of the steamboats and the telegraphic system(Taras, Steel and Kirkman 2012).Therefore, the business organizations of the “contemporary business world are increasinglytaking the help of this particular concept to further enhance the prospects of their business”(Schlagwein, Thorogood and Willcocks 2014). The most “important factor which the variousbusiness organizations need to take into consideration for the process” of their internationalbusiness is the factor of culture (Schlagwein, Thorogood and Willcocks 2014). It is often seenthat the culture as well as the social background of the nation in which a particular businessorganization expands is drastically different from the culture and the social background of thecountry to which the organization originally belongs (Schlagwein, Thorogood and Willcocks2014). Thus, it is often seen that these business organizations need to make severaladaptations as well as modifications in their style of business in the various other nations ofthe world (Hirst, Thompson and Bromley 2015). Therefore, the various managers of theseorganizations need to take the factors of culture as well as social factors “into considerationfor the purpose of their business” (Hirst, Thompson and Bromley 2015). It is generally seenthat the various business organizations fail to take these factors into consideration and as afailure they fail to sustain themselves for very long in the competitive business world of thesenations (Hirst, Thompson and Bromley 2015). An example of this instance is the businessoperation of the company Disney in the nation of Paris (Hirst, Thompson and Bromley 2015).This report will discuss about the concept of social as well as the cultural factors “which the
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