Business

Influence of cultural differences when entering a new market

Culture can be defined as a way that an individual behaves in the society he belongs to. It includes the kinds of lifestyles, his daily practices, the law that governs him and civic morals. Some elements of culture include languages, nationality, education, occupation, ethic & racial groups, religion, family, sex,…

Perks of doing business in the 21st century

Doing business in the 21st century is entirely different than what it was twenty years ago. At that time computers were not a routine part of small business and it was extremely costly to get started in business. If you are thinking of setting up a brick and mortar business,…

How to organize successful international business meeting for negotiations

Over the past few years there was a big growth in the number of international meetings. Unfortunately, many of the meetings fail to accomplish their objectives. The purposes of these meetings are varied, ranging from exchanging information to rewarding performance and creating opportunities for professional development. Often the meetings are…

What is an MBA?

The Master of Business Administration (MBA) is a master’s degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The…

How to enter a foreign market

Foreign markets can be very attractive to a business looking for new customers, especially when its home market is becoming saturated. Such an expansion, however, needs to be thoroughly researched and carefully planned to ensure that the timing is right. To begin with, a business needs to have successful products…

Reasons why outsourcing and global production exists

Global companies place production facilities when costs are lowest. But for some companies costs are only a small part of the production picture. Countries along the world have increased the number of trade barriers, but in another hand market in Asia and Eastern Europe have opened for foreign investment. This…

Ford, Honda and global economy of scale

Rising costs and different tastes in car styling made the industry giants to use the global economy of scale. But companies like Ford and Honda chose different ways of development. Ford is one of the world’s earliest multinationals. Its first foreign production unit was set up in 1904 in Canada….

Importance of organizational structure for business

There is absolutely fundamental need in company for a solid structure. Organizational structure concerns who reports to whom in the company and how elements are grouped together. A new company cannot go forward with out this. There are several organizational structures companies can choose from. The most popular structure is…

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