The Modern Business Environment and Globalization
The modern business environment has led to increased competition both locally and globally. More so, due to technology advancement, improved transport and communication among other favorable factors, many businesses have shifted to the global level. However, different regions have posed different factors favoring and challenges to business globalization process. Successful global investment has been for business entities that have managed to minimize challenges and overcome different barriers such as cultural difference, language and laws, and regulations, etc. This essay addresses the aspect of internationalization focusing on three regions; Middle East, Asia, and Latin America, highlighting their cultural differences, management styles compared to American strategy and finally deciding as for whether it is good to implement the business plan. Regarding this essay, the selected nations are China in Asia, Brazil in Latin America and UAE in the Middle East.
Components of China, Brazil, and UAE cultures that need to be understood from a Business Point of View
Going international is related to numerous benefits such as learning to thrive is the different business environment, increased environment as well as ability to learn from the best. However, it requires a well-developed business plan, with a detailed understanding of the proposed market to be invested into. As an international investor, different factors determine the choice of a country or region invest. Comparing UAE, Brazil, and China, one of the factors to consider is the culture of each of the regions. Each of these regions possesses a different culture concerning business. In order to excel in these regions, it is key to understand the key aspects that affect business operations (Caiazza, Shimizu \" Yoshikawa, 2017). It is, in turn, an inevitable for any international business dealing person to take time and learn the different cultural perspectives and differences in any focus or target country. This would lead to greater understanding, effective communication, and successful business management or operations.
Taking the case of China
Observing of laws and policy is key to every business success. More so, every business should be focused on long-term business relations, which is built on respect and honesty. It is key for one to observe the time for one to excel in the China business environment.
UAE
UAE, on the other hand, is today regarded as one of the global business hubs. However, for any business focused on establishing itself here, it should be aware of Arabic culture and its ways of marketing. Business is operated more on personal relationships and mutual trust and in turn for every incoming business, these two are critical aspects that they should invest in. Good manners and courtesy are key aspects that are demanded. However, with increasing globalization, the environment in UAE is slowly being westernized, but law and regulations must be observed.
Brazil
Lastly, there is Brazil, which due to diversity in ethnicity, as well open to global business. However, its key for one to focus on friendly relationship and politeness is well an asset in every operation. Brazilians concentrate on negotiations with individuals and not the company and in turn key for every business organization to build on positive personal relationships. Business management is hierarchical, with topics such as politics, religion, and poverty a no-go zone.
Understanding Cultural Aspects and Establishment of Cross-Cultural Teams for Collaboration
Some of the key aspects to an understanding with reference to the different nations include language, cultural practices, religion, laws, and policies. In an effort to excel in each of the countries, different supervisory skills would be critical for every business focused on successful investment. One is communication and interpersonal skills. The discussion would help in establishing a healthy environment less of conflict, while interpersonal skills would be ideal towards the establishment of active teams which are based on consensus, social style, and understanding of relationships (Snaiderbaur, 2012). In terms of considerations to facilitate collaboration between the cultures, the establishment of a cross-cultural team of employees. This helps to develop a local affiliation by hiring locally. It is also crucial to focus on establishing positive personal bonds, its key to ensuring conflict is addressed immediately.
Application of US Management Style in the Three Countries
Despite the differences in cultural aspects between the three regions, an American origin style of management would be ideal for a multicultural invested workplace or employees. Yes, an American technique can be applied in the countries; however, change or minimal adjustment may be required. This is to accommodate some key cultural aspects of every region. For example, language, religious holidays, work time as well as gender reference in every area. However, for the management model to successful, various issues related to cross-cultural teamwork ought to be addressed (Gladkikh, 2014). To make it a success, information, and communication platforms, technologies should be provided as they would provide essential infrastructure for individuals from varying cultures to learn and work collaboratively.
Classification of Economic Systems - Reason for Classification
There are different types of economic systems, which are primarily defined by the way scarce resources are distributed within any given economy. There are four majorly known types of financial systems namely; traditional, command, market and mixed economic system, with each of these posing different merits and demerits. China is an example of a command system of economy, and Brazil is a mixed system of the economy the same case with UAE. The Chinese system is regarded and command due to the undisputed role of government in determining the nation's economic plan. Additionally, the government sets business laws and regulations, and every global investor has to be government approved to invest in China (Gil \" Reyes, 2012). On the other hand, Brazil and UAE exhibit mixed economic systems due to less government intervention in the business environment as it is a combination of command and free market systems. Despite the market open for investors, the government controls through licensing.
Conclusion
Drawing from the information above about the cultural aspect of nations with reference to global business investment, I would go ahead and implement my business plan. However, China would be last of my options, due to its command economic system, despite high population meaning market availability. Despite global business demanding devised management approach due to cultural diversity, there is a higher chance of success in Brazil and or UAE due to the accommodative business environment. One of the primary focus with reference to changing from the US to global business operations is to understand critical aspects of multicultural team management which would be an asset towards the success of every global business.
References
Caiazza, R., Shimizu, K., " Yoshikawa, T. (2017). Cross-Border M"A: Challenges and Opportunities in Global Business Environment. Thunderbird International Business Review, 59(2), 147-151.
Snaiderbaur, S. (2012). Symphonic Leadership: A Model for the Global Business Environment. ISM Journal of International Business, 1(4), 1-17.
Gladkikh, T. (2014). Leadership across Cultures: Conceptualising a "Global" Leader. Proceedings of the European Conference on Management, Leadership " Governance, 86-93.
Gil, E. L., " Reyes, A. (2012). International Business Research: Strategies and Resources. Lanham: Scarecrow Press.
