Sunday February 24, 2019
Home Business Important Tip...

Important Tips to Follow if you wish to Expand Business Overseas

Want to spread your business overseas? Here is all you need to do for Spreading your business internationally.

0
//
Tips to expand business overseas
Tips to expand business overseas. Flickr

One of the first things people notice when they branch out into doing business internationally is how big a role social norms play in business dealings. It’s the same in North America, but the contrast is much more jarring when dealing with a new country, new etiquette, and new expectations. Whether you are applying for financing from a lender or opening a new branch of your business overseas, it’s important to understand that how you conduct yourself can have a profound impact on the success (or failure) of your business. Here are a few general guidelines to help you conduct business in a variety of regions around the world.

In Asian boardrooms, meeting participants will typically be arranged by seniority. This is also the order in which they should be greeted, and the order in which you should pass out your business cards. This is a sign of respect. Speaking of business cards, be prepared to hand out many more in Asia than you would in North America. There is a ceremony around exchanging business cards in countries such as Japan. Be sure to invest in a business card case, as it is seen as rude and inappropriate to keep them in your wallet or pocket.

In some Middle Eastern countries, note that it is quite normal for a male client or colleague to grasp another man’s hand while walking together. Although this may seem unusual to North American sensibilities, it’s considered a sign of trust in some parts of the world.

It’s also a good idea to bear in mind that questions that may be perceived in North America as being simple small talk may actually consider quite rude and intrusive in some countries, such as questions about marital status, children, age, etc. In professional situations, it’s always best to err on the side of being too impersonal rather than to risk being considered nosey.

Gift-giving in a business setting is complicated in some cultures. In some cases, for example, it is considered improper to open a gift in front of the giver, so be aware of that if you are presented with a gift.

Manners are a very big point of difference among different cultures. For example, it is perfectly acceptable and actually expected, that diners will eat a sandwich with a knife and fork. Similarly, belching and slurping one’s food is considered rude in some cultures, but quite acceptable in others. It is considered socially unacceptable in countries such as Japan to be seen blowing one’s nose in public.

When it comes to professional attire, you can never go wrong erring on the side of conservative, no matter where you are in the world. Women should take special care to dress more modestly, as it can be a serious culture misstep to dress too revealingly.

When you do business with other countries, it’s important to know the business and legal issues that may arise, but never forget that business is, as the heart of things, a people-first endeavor. The more you can be aware of and respectful of the social expectations, manners, and etiquette in the region in which you are doing business, the more professional you will be perceived. And that can go a long way toward helping you to solidify meaningful business connections around the world. If you aren’t sure how to act or what to do, always educate yourself before you arrive. Not only do you not want to look foolish, you also don’t want to be insulting. There are lots of resources online and in books to help you navigate these challenging waters.

Next Story

Prime Minister Narendra Modi Stern On Intensifying India-Korea Economic Relations

India features among the top 10 trade partners of South Korea and is the sixth largest export destination for S Korean goods with the trade volume reaching $21.5 billion in 2018. 

0
agreement
Noting that this was his third interaction with the Korean business leaders in 12 months, Modi said: "Negotiations to upgrade the comprehensive economic partnership agreement (CEPA) have been fast-tracked to achieve the bilateral trade target of $50 billion." Pixabay

Making a call to intensify the India-Korea economic relations, Prime Minister Narendra Modi here on Thursday urged more Korean businesses to turn their attention towards India.

“I wish to see more and more Korean businesses turning their attention to India,” Modi said.

Addressing the India-Korea Business Symposium, Modi who is on a two-day official visit to South Korea, said India has become one of the most open countries for foreign direct investment (FDI), recording $250 billion inflow in the past four years.

India
Highlighting the sound fundamentals and that the Indian economy is on its way to become a $5 trillion economy soon, Modi said no other large economy in the world has grown at 7 per cent year after year.
Pixabay

Noting that this was his third interaction with the Korean business leaders in 12 months, Modi said: “Negotiations to upgrade the comprehensive economic partnership agreement (CEPA) have been fast-tracked to achieve the bilateral trade target of $50 billion.”

India features among the top 10 trade partners of South Korea and is the sixth largest export destination for S Korean goods with the trade volume reaching $21.5 billion in 2018.

Money
Trade Groups Claim, American’s Detention Is A Potential Moment For Russia. Pixabay

“Not just trade, in terms of investment also we are seeing a positive turn. Korean investments into India have reached a cumulative figure of almost $6 billion,” the Prime Minister said.

Noting that the South Korean National IT Industry Promotion Agency (NIPA) has opened its India office in Bengaluru to facilitate Korean startups in India, the Prime Minister said both the countries have decided to set up a future strategy group (FSG) and a centre for research and innovation cooperation.
Also Read: Trade Groups Claim, American’s Detention Is A Potential Moment For Russia
Highlighting the sound fundamentals and that the Indian economy is on its way to become a $5 trillion economy soon, Modi said no other large economy in the world has grown at 7 per cent year after year.

India, he said, has jumped to the 77th spot on the World Bank’s “ease of doing business” rankings on the back of reforms and is determined to break into the top 50 next year. (IANS)