The Key Considerations When Developing International Business Literature review

The Key Considerations When Developing International Business - Literature review Example Hence, this leads us to the topic of â€Å"key considerations in developing an international business.† This work attempts to identify the extent in which prior literatures, especially the latest ones, have suggested on the importance or key considerations in putting up an international business. Using the internet and the online library resources, it has been identified that there are at least seven materials which appeared to be most relevant to the subject matter, the materials have also been reviewed and the most salient points have also been identified. This work limited itself to materials written within the last 5 years with the exception of one in which it was written in the year 1999 but appeared to be highly relevant to the subject matter. One important material on the subject matter is written by Beyer and Fening (2012). Beyer and Fening (2012) highlighted the importance of business strategy for success in the global market. However, they actually emphasized on the role that institutions play in shaping global business strategy. The authors pointed out for instance that one important consideration is whether the targeted country for expansion of the business implements and imposes restrictions on trade and commerce vis-à  -vis foreign nationals. Another important consideration is whether the potential market is saturated with government policies and regulations that restrict the businesses. One important material on the subject matter is written by Beyer.

Intercultural Relations Research Paper Example | Topics and Well Written Essays - 1500 words

Intercultural Relations - Research Paper Example nies opening up their business in countries apart from their home countries, cultural integration and sharing of cross cultural values have become more important from the perspective of international business. Russia and China are two important economies in the world in terms of international business. However, the cultures prevailing in the two countries are similar and different in various dimensions. The cultural evaluation of the two countries can be done with the use of the Hofstede’s cultural dimensions theory. Russians greet in formal styles in business meetings. Handshakes are considered appropriate as forms of greeting or leaving in the business meetings. It is a common practice to exchange business cards in the beginning of a corporate meeting. Formal addressing is considered appropriate in China. Exchange of business cards at the beginning of a business meeting is indispensible (Bouwen, 2001, pp.361-369). The business meetings are conducted in formal and result oriented environment. Russia is characterised by religiosity. Most of the Russians follow the religion Christianity. However there are some percentages of people who follow Islam. Few European minorities are western Christians and roman Catholics. Russian language is the official language. However, the people are fluent in English language. Georgian language is also used in some parts of the country (Hendrickson, 1998, p.141). China is a multi religion country. A number of diverse religions are practiced including Buddhism, Taoism and to an extent Islam. Buddhism and Taoism are the most commonly followed religions in the country. Mandarin and standard Chinese are most commonly spoken language. Punctuality is important for Russian people. Handshake in formal meetings is expected. Demonstrating gestures are commonly shown by the Russian people. A firm handshake with a suitable greeting according to the time of the day is considered appropriate (Jandt, 2013, p.377). The Chinese strive to make