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Critical Evaluation with Authority

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Submitted By AnabellaR
Words 277
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Anabella Rios
Student Number: s2961673 CASA 3

CRITICAL EVALUATION WITH AUTHORITY

The Asian Markets do business very differently to Australia, in comparison the Asian style of business is rather broad. The particularity of their business decision-making process are evident and would clash any business interactions between each other. Learning and interpreting the social custom and strategies is also crucial. It is important that Australian management recognise the significance of qualities that are remarkable to Asia and consequently is also relevant to business collaboration.
The business cultural differences are enormous between Australia and Asia. While western culture is fast-paced, reluctant to slow down; in contrast, Chinese culture is very slow in decision-making; therefore, patience is imperative. Most of the time business meetings are not scheduled to discuss business, but to build a relationship. Establishing a good relationship in Asia business culture is far more important that a draft of a business contract.
Schermerhorn et al. (2013).The idea of investing in China or Asia is not new. The Chinese market remains a challenging one for the Australian financial sector due to stringent regulatory limitations in many areas and cultural and business environment is considerably different from Australia.
Enduring accomplishment in Asia depends on how good and fast management learns the Chinese business culture. Understanding socially, politically, and economically, how Asia does business, it is critical for management wanting to have success in their Asian business venture. Even though, Australia has a rising multicultural workforce mostly composed by Asian employees; management seems to be slow understanding the system and etiquette of how Asians prefer to do business, this behaviour could also impact on trading

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