Doing Business in Asia. Looking for advice on doing business abroad within or outside ASEAN Economic Community (AEC) and Asia? This section provides information in many different ares, cultural, practical, etiquette, taxes, importing and exporting goods and financial support for businesses as well as many other topics. In a globalized world we can’t do without Asia and in a time when boosting competitiveness is so urgent to restore growth to the Western countries, Asia can’t do without US and EU. So it is important to understand the different ways of doing business in each and every country.
Doing Business – Learn the Local Rules
Learn the Local Rules. We can’t really change the fact that many Western business men and executives are still grappling with how to do business with an empowered Asia. Information about learning how to succeed in Asia are everywhere — but there is clearly more to learn than delivering your business card with two hands. It is not enough to understand macroeconomic trends, but rather to learn how to capitalize on opportunities by understanding the differences between business practices and how management and workforce are treated in different Asian markets. More and more U.S. and European business schools are seizing on the demand for good information about Asia, putting greater emphasis on educating future executives about Asian and ASEAN (South East Asia) business culture.
International business in Asia and Culture
When doing business in a foreign country you need to be prepared to experience things that are different from your own culture. Without proper preparation and planning you may experience ‘culture shock’ which may have a negative influence on the outcomes of business dealings. It is understandable that as an active business person you can only invest a limited amount of time on the exploration of cultural differences. Sometimes it is only a few hours after landing in a new country that you find yourself in a meeting room talking business.
Culture is not how you pick up the chopsticks. It’s how you make sense of the world. In other words, the ways in which people interpret facts have a huge impact on how decisions are made and how businesses are run. One way to evaluate culture is to consider how business leaders view the role of the firm in their economy.
If we ask senior executives in both the Western and Asian countries why their firms exist. Most Americans for example will probably answer that firms exist to “create shareholder value” — a mantra in the U.S. business world at least since the early 1980s. But across Asian countries, the answer to this simple question varies widely. How top management in China understand their world, for instance, differs starkly from the views of their counterparts in Japan. When firms partner with each other, they are thinking about what the other side wants. We’re adding a key piece of information: it depends on the country.