The globalization has created an acute need to expand the business internationally. The cultural factor is one of the most influential factors in the accomplishment of business aims. Culture is the sentimental factor of every country. The business manners and etiquettes vary in every culture. So it is very important to be familiar with the culture of the country. Approach: The study is held with the comparative analysis of the corporate culture between the two European nations. Britain and Romania have been taken for the culture study on corporate scenario. The paper aims at finding out the cultural differences between Britain and Romania. Despite being European country, there is a vast difference between the cultures of these two different countries. The paper first focuses on the international business relationship between Britain and Romania with recent statistic. Further the paper discusses Romania’s corporate culture and Britain’s culture. Scope to the study: Though it is a management and business related research paper, the paper focuses on the cultural issues in business world. Awareness, respect, and honour to the other cultures has become one of the major prerequisites of the corporate leaders Practical implication: The study includes the following corporate cultural aspects of Britain and Romania: Languages/ religious orientation Cultural Values Etiquettes and manners Behaviour Symbols Body language and their meaning Key words: Comparative analysis, Britain Romania, Cultural factors, corporate world. INTRODUCTION Due to globalization the business has crossed its local and national peripheries. ‘Globalization is rapidly breaking down our vision of a world with well-defined national, cultural and linguistic boundaries.’ (Irina Budrina 2011) For its growth and expansion, the businesses have to rely on international dealings. Mergers, acquisition, joint ventures are the common phenomena in today’s globalized corporate environment. The corporate tasks are majorly performed by the employees from different cultural background. Culture has an influence on the way people operate and manage their businesses. It also plays a significant role in the way managers negotiate and interact with other business people, organisations and consumers. ‘It is important that you adapt your management style to reflect the market in which you are working.’ (International Marketing Challenges, Smart Biz Connect) New strategies related to multiculturalism have been dominating in the organizations. Knowledge and well understanding and benefitting from cultural differences has become one of the major challenges to the organizations that are operating on global level. ‘Each nation has a distinctive culture and different beliefs about what business activities are acceptable or unethical.’ (Ferrell, Fraedrich 2009 p.150) Consequently it has become crucial to consider cultural aspects while designing the strategies. Intercultural competency has become one of the most important prerequisites in the increasingly global business. The term intercultural competency is associated with the ability communicate effectively with the people of different cultures. While training and orienting people who are going to be the leaders, they have been given the training of cultural knowledge needed for a successful business. It is essential for the manager to understand and respect the cultural aspects of the country in which they want to establish their business. ‘Failure to place marketing strategy in the cross-cultural context of the countries where a company is doing business will work to the detriment of brands and business relationships.’ (Emery and Tian, 2003, 2002; Tian 2000) The cultural factors include language, behavioural pattern, their
The secret of a successful economic development of any business lies in its expansion on international level. The globalization has created an acute need to expand the business internationally. …
This research study examines how two of the largest commodity traders in the world, Vitol and Glencore International, conduct their commodity trading activities through the commodity exchanges in the United Kingdom and in its OTC market.
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British Fashion Council (2011) has said that the value of online sales of fashion industry has reached up to 4.3 billion pounds in the year 2011. This industry is characterized as having a diverse customer base (consumers have different needs and wants), and brands that are targeting different customer segments.
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30 Agreements with the Earlier Government 30 Doing Business in Libya 31 Issue of Safety 33 Issue of Stability 33 Issue of Equal Opportunity 34 Issue of Competence 35 Issue of Resolving Business Disputes 35 Challenging Business Environment 36 Conclusion and Recommendation 38 Conclusion 38 Recommendations 39 References 42 Introduction After almost a year of revolutionary inconsistency, Libya has “managed to emerge from the rubble of a 42-year dictatorship with the world’s fastest growing economy” (Vandewalle, 2012, p.
56 pages (14000 words)Dissertation
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