Foreign language skill from the managers’ point of view is very important to their business administration, especially for communication with customers, other companies, suppliers and other stakeholders and communication gave the opportunity to expand their businesses from the national level to the international level, which offers further success. In this case, managers and all members of the business need to know the arts of communication to deal with
It establishes business contacts with important people and makes easier to create link in the community. It also seeks new career opportunities, Facilitating win-win relationshipships, creating referral network, accelerate your professional development, and develop knowledge resources and networking resources to enhance your effectiveness. Some importances of networking are: Importance of networking in business 1. Build relationships: Today’s, in doing business we aren’t not facing local competitors but foreign competitors so building relationships means building businesses. Building relationships matters in business because when consumer is making the decision of dealing business with they are likely to be more comfortable with the one having a relations because they can trust someone who they know well.
They can mold the minds of people in their outlook in certain aspects of their lives. For example through the power of multimedia and ad campaigns a business organization can change the way a person can think about environment or a certain product. They can start a movement r a new trend which can lead to a permanent or temporary change on the way a person does certain things or wears certain thing or even eating certain things. “Ethical behaviors have an intrinsic value” The actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value.
Integration can be defined as of attaining close coordination between several groups , departments , the system in which the people doing work making them work together to attain business goals , Integration is like not only achieving the business goal but also it is helpful in combining the technology into business strategy and goals . Now the question is why Integration is important for business because with the help of integration we will be easily able to address customer demand and feedback for our product which is very important for our business as today’s world is of competition market so customer needs should be the top most priority , so Integration helps us in that and which ultimately helps us in increasing the sales of our organization.
Supplier Diversity – Businesses have taken steps to diversify even in the supply chain to ensure that the benefits accruing to diversity from within the organisation are homogenous through the supply chain to the customer. This also helps to promote the image of the company in the case, where the organisation hires workers from the population on site by harnessing the relationship the customers tend to keep with such employees (Marchington, Wilkinson, 2012). Counterarguments Challenges of Diversity - Whereas the benefits of diversity are many, there are a few obstacles in diversifying. People tend to attach some sentimental value to developments originating from native ideas. This fact added to other enforcements by the government and in some cases company policy leads to discrimination against the diversity in people the world bears.
Analyzing how differences in between cultural affect international business. Understanding, knowing and identifying the role of cultural differences can be the key to being successful in business internationally. Whatever department you belong to, cultural differences will have an impact on your profitability. To gain competitive advantage and have the capacity to build a positive image in the business world, it is important to improve and increase the knowledge of international cultural difference in business. Factor of cultural differences of different countries which can have direct impact on the business are: • Communication Around the world, all of us have been taught to follow different cultures.
Based on the firm’s experience in managing the customers with a new set of values and lifestyles in their home country, firms show interest in expanding the business to other countries where also the firm faces similar challenges. • Since the culture and tradition of a country decide consumer behaviour in a given country, the strategies developed by the firm in the home country to handle socio-cultural issues may help its decision on international business expansion. • The decision maker can find out the relevant similarities and differences among target markets with local market to decide what products/services may be the game changer. • The domestic socio-cultural environment effects of the firm and its decision makers on consumer perception of products, distribution, pricing, and communications policies which can be easily tested further in international business scenarios. (d) Technological Issues : The domestic technological environment issue is related to the technologies developed by the firm through its efforts on R & D and other locally available technologies to improve the features of the products and services so that they can be globally acceptable and
One of my expectations that I have about this career is to have a good schedule where I can develop other activities. I want to obtain the necessary tools and knowledge to be capable of doing business in the world market either by importing goods or exporting non-traditional products. Also, I want to improve myself as a professional, and achieve an important position in a company, so one day I can develop my own company. I want to be able of taking advantage of the opportunities that arise, and overcome the challenges imposed on me. Especially, the most important thing that I have in mind, is to be able to enjoy my career.
I realized that once businesses recognize a customer’s needs, it becomes easier to choose target customers. This will then help businesses create products that meet the customer’s needs, wants, and demands. However, this is quite a challenging task to
Leaders in the working environment are regularly in charge of difficult changes, keeping in mind that the end goal to create a more viable workplace. Through illustrations, demonstrations, exhibition and proper preparation, leaders can impact the people around them to adopt new techniques, practices, behaviors, and strategies to enhance or improve their organization. Flexibility and continuous change are basic to a well-oiled working environment. It keeps the company relevant, energizes workers and enables the whole organization to run easily in an equally continually evolving world. Clients tend to recommend and suggest companies to their peers when an organization is effective, educated, and in touch with the world.