Entrepreneurship

• Economie

Why do you need to understand the culture of the
country in which you do business?

Chapter 4

Section 2:Ways to enter the Global Market

Pages 85-92

• Objectives

• Identify the importance of culture when doing business in a country
• Summarize the ways of showing respect when doing a business
• Discuss the method of finding opportunities in the global market

When you travel abroad for business, you should prepare by studying the customs in the country you are visiting. Failing to do so may keep you from closing an important business

deal.

What should you prepare for
when you are visiting a country to do business?

1. Goals
2. Customs
3. Methods
4. None of the above

What
key factors are important to
remember when doing business
with another country?

Brainstorm international business situations that might call for cultural understanding(Examples might include special requirements for food preparation and type because of cultural traditions; different cultural communication styles; time zone issues.)

Importance of culture

Showing respect

Be prepared to remove your shoes in some situations. This

shows respect.

Dress conservatively.

What things should you take care when doing business in Dubai or the United States?Choose one and give answers.

A person who translate the other person’s language into English.

1. Business representative
2. Communicator
3. Interpreter
4. Translator

The world market is huge. There are countless international opportunities for entrepreneurs who are willing to take the risk and go global.

1. Standard Industrial Trade Classification (SITC) codes: you cn learn about products traded in different countries

2.International Business Exchange (IBEX): It lets you sell

products and services online anywhere in the world.

3. Trade missions: small business owners meet and talk with foreign agents, distributors, or  potential business partners

How should you go about selecting an international
market? Which market will you choose to operate your business and why?

What is that is a good way
to find trading partners?

1. Trade missions
2. sitc
3. Trade barriers
4. Ibex