Report on Issues in International Business
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Added on 2020-05-04
Report on Issues in International Business
Added on 2020-05-04
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Running Head: ISSUES IN INTERNATIONAL BUSINESSIssues in International BusinessStudent NameCourse Code
1ISSUES IN INTERNATIONAL BUSINESSIntroduction Culture is termed as the most basic phenomena and the reason on which the behaviorsand wants of people depends. It is the root cause of the trends of business which is done in aspecific country. In the following report discussion on the cultural behavior of the market ofChina is done. China has a very rich trading history as the city of Beijing and Shanghai had beenmajor business centers in the ancient world. To know the cultural behavior of people of China itbecomes important to know their cultural background. In the same way it becomes very crucialfor the business entrepreneurs to know the cultural behavior of Chinese market and to know thescope of their business. The following report discusses the rationale of the Chinese market.Moving further, cultural analysis of the Chinese market is done in which business culture hasbeen given utmost importance since there is a lot of importance of business and culturaletiquettes in the eyes of the Chinese people. To analyze the cultural dimensions Hofstede’smethod of cultural analysis has been done. China being the host country its comparison inculturaland business context husband done with Singapore to know the difference betweenbusiness trends and their source of changes of behavior.The following report holisticallydiscusses the issues which come in dealing with the international business operations.RationaleChinese economy is the second largest economy in the world after United States ofAmerica. China has opened their domestic market for foreign players since last 25 years. TheChinese government aims to multiply their economic growth and GDP 4 times till the year 2020(Barai, 2017). This is why the discussion on Chinese market culture has become very important.Chinese Market is known to have a dual economic structure which has modified from thesocialist economy which was centrally planned tour social system based on market economy.
2ISSUES IN INTERNATIONAL BUSINESSChina has been fortunate in adapting the new technological advancements which has given riseto the fast industrial development and has attracted foreign direct Investments on a huge basis(Bartikowski & Cleveland, 2017). Previously private ownership of assets was not allowed butthe regulations have changed and the entries of new foreign players have been observed. InChina substantial part of non-agricultural and facilities of the industries I still owned by the stateand I planned from their central government. But according to the changing trends and marketculture joint ventures have been encouraged giving emphasis to the special economic zones ofthe coastal cities like Shanghai.These subtle changes in the business culture of China haveproduced a great number of millionaires and billionaires in China. Due to these reasons the cultural aspect of Chinese business becomes so hot topic ofdiscussion and Exploration (Berger et al., 2017). China has been the largest receiver of FDIfunds since last two decades because of its liberalization in business culture. China has becomeone of the largest exporters of electronic goods which has made it one of the biggestmanufacturing hubs in the entire world. People of China believe in simple living and hard workwhich is imbibed in the deep rooted culture which gives an edge to the workforce which fatherhelps in expansion of their business ventures (Chan et al., 2017). After China joined the WorldTrade Organization there has been a rapid increase in their imports and Exports which hasbrought huge dividends to the Chinese market. Due to the huge population of China there arestill some problems in their infrastructure and transportation services. One reason for thisproblem can be stated as their culture which restricts them to stick to the old methods. ButChinese people are also very inclined towards innovation and have developed some state of theart infrastructure specimens which can be viewed in the cities of Shanghai and Beijing (Dawsonet al., 2017). These innovative trends open new horizons for business ventures of technology in
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