Transformations to Open Market Operations

Doing business internationally is not the same as doing business at home. There are new skills to learn and new knowledge to acquire about the country that the company will be going into. The company will need to learn about the different laws and regulations, the different customer buying habits, and change the marketing strategies and materials to appeal to the new country the company is entering. It is important to remember that the way the company operate its business will be determined by culture of the market it’s entering, not ours. Understanding both the social and business culture in another country is the first key to success.
Our world is becoming increasingly connected and global and the role of international business is increasing. Each country has its own set of unique customs and traditions. Each citizen’s beliefs define the cultures by which each citizen abides by in normal everyday life, serving as the very foundation of the country. For example, in Saudi Arabia a citizen convicted of stealing will have his had cut off. In the United States, a citizen convicted of stealing would possibly recieve only short term probation. The American Heritage Dictionary defines culture as, “The totality of socially transmitted behavior patterns, arts, beliefs, institutions, and all other products of human work and thought characteristic of a community of population.” Seemingly minuet gestures or situations which carry different meanings in particular cultures can make or break business deals. The level of competition a company will experience in foreign markets is likely to be more dynamic and complex than their experience in the United States. The key point to determine when gathering market information on the market the company intends to enter are: what language the people speak, what are their culture and beliefs,