DOC

Tips for Doing Business in my Country

By Fred Flores,2014-06-27 03:05
6 views 0
Tips for Doing Business in my CountryTips,for,Doing,doing,tips,For

    Tips for Doing Business in my Country

    London Business School

    Class of Master in Management 2011 students

    Austria

    ; Punctuality is important

    ; It is very important to address Austrian business people with their title e.g.

    Dr. and their last name

    ; Avoid making appointments for the months of July and August as well as Au

    strian national holidays

    Belgium

    ; Speak French or English

    ; Be aware of the cultural differences between Flanders and Wallonia

    ; Wages are quite high in Belgium

    ; Belgium has lots of highly educated people

    ; Be open to show willingness for compromise

    ; Don‟t ask questions about the country‟s possible separation, we are tired of

    answering these questions

    Belgium (Flanders)

    ; Try to address Flemish people in their own language

    ; Focus on the content. Flemish people do not care about form.

    ; Do not act overly social

    Brazil

    ; Start small avoid risk

    ; Work with reliable agents bridge the culture

    ; Build relationships-meet the customers

    Bulgaria

    ; To do business in Bulgaria you are advised to visit the country at least on s

    everal occasions. Personal treatment is very important for building relationshi

    ps and trust and if you do not manage to build such relationships you migh

    t stumble reaching business agreements.

    ; Be prepared to deal with bureaucracy. However, if you know the “right perso

    n”, starting a business might be easier. Therefore, build your network on a l

    ocal level.

    ; Laws protect trademarks, copyrights and patents and ensure equal treatment

     of both foreign and domestic investors. However the legal system functions

     slowly, so you‟d better not get involved in court disputes.

    Canada

    ; Be open and welcoming

    ; Be friendly

    ; People are very polite and you are expected to be polite too ; Canadians tend to say “sorry” a lot

    ; Ethical practice is most important

    ; Watch out for cultural differences Canada is a multicultural country

    ; Canada is officially a bilingual country (English and French). French dominate

    s the province of Quebec

    ; Canada is very multicultural and promotes diversity impact on customer se

    gmentation and advertising (e.g. labels must be in French and English) ; Charge higher than normal prices because no one will complain ; Fill in your tax forms correctly

    ; Be sensitive to (or avoid) comparing Canadians to Americans ; Canadians don‟t like to be thought of as “just like Americans”

    It is a very common practice to tip when receiving services (restaurant 15-20%)

    China (前十条都在说关系……)

    ; Relationships, but not networking

    ; Relationship matters the most

    ; Networking is important

    ; Networking us the key to business success

    ; Build good relationship with your clients and people in the government ; Building relationships

    ; Build good relationship with your clients in the government ; Business is done mostly through „Guan Xi‟, which means relationships/networ

    king. So find the right person of influence to get your trusted ; Never underestimate “Guan Xi” – connections, networks. You need to be dea

    ling with a person of influence

    ; Hire local representatives/consultants to monitor deals and relationships ; Dinners and drinks

    ; Entertainment

    ; Being a good person

    ; Don‟t be too aggressive

    ; Do it with the government

    ; Be ready to drink a lot of alcohol

    ; You have to drink a lot

    ; Be prepared to drink 5% white wine

    ; You have to train yourself to be good at drinking especially if you do busine

    ss in northern China

    ; People make business deals on dinner table

    ; Accounting system is not well developed be careful!

    ; Know the different characteristics of people from different provinces ; Be very flexible

    ; Follow your boss

    ; Don‟t fight for bills

    ; Keep an eye on policy changes in the financial market so as to lower risks ; Be humble

    ; Understand local culture (learn local language)

    ; Respect face

    ; Understand the ways of saying “no”, since Chinese almost never say it direct

    ly

    ; Respect face. Never argue or voice a different opinion with anyone directly ; Use the same due diligence you would in the west so as to protect your int

    ellectual property

    ; Show a lot of gesture of goodwill

    ; Governments play an important role

    Egypt

    ; Connections are everything

    ; Speaking English and Arabic is essential

    ; Don‟t take work too seriously; Egyptians are laid-back and like to have fun o

    n the job

    France

    ; Process matters as much as result

    ; Respect and show respect to your superiors

    ; A lot of business is done over lunch, dinner or drinks ; Develop a perfect fluency in French language and culture ; Know people

    ; Network, network, network (accept that success if not all about merit) ; You might be judged very quickly and superficially

    ; Dress well. French people draw information on people based on their appear

    ance

    ; Be prepared to be judged

    ; Don‟t say everything is great, criticize!

    ; Follow business etiquette: be very polite, well-mannered and formal ; It is important to speak French

    ; Speak and understand French x2

    ; Use first names only after being invited to do so

    ; Make friends in the workers‟ unions

    ; Be sure to possess good analytical skills

    Germany

    ; Be on time! X 4

    ; Punctualityx2

    ; Be punctual

    ; Known for diligent work ethic - expect to work hard ; Germans drink beer and like sauerkraut and wurst

    ; Focus on value add and content creation

    ; Make yourself heard

    ; Be aware and show your awareness of local and federal regulation ; Show how you will contribute to the local community or highlight the benefit

    s of doing business with you

    ; Most important points of agenda are spoken about first in negotiations ; Meeting deadlines is crucial

    ; Keep your promises

    ; Matter and person are often seen as separate in business ; More or less a strict line drawn between business and private life ; Focus on the content of discussion, no distractions ; Be honest! X 2

    ; Don‟t be offended by harsh language

    ; Don‟t call someone by first name immediately

    ; Be straightforward

    ; Straight to the point

; Formal

    Greece

    ; You have to be fully aware of the legal system ; Know well every law applying to your sector ; Maybe you will need to use some not very legal techniques to achieve your

    goal

    ; Meetings can be arranged on a very short notice ; Informal networks and who you know are more important than what you kn

    ow, especially if you are a woman

    ; Most Greeks speak English but they are suspicious of foreigners doing busine

    ss in their country

    ; Build trust in your business relations

    ; Punctuality is important in business

    ; Negotiations is part of closing the deal

    ; Negotiate much and hard

    ; Don‟t trust easily

    ; Long lunches are an important source of building relations, negotiations and

    closing deals

    Hong Kong

    ; Give business cards with both hands

    ; Don‟t be first to start eating

    ; Manner is everything

    ; Renting is expensive try to get as small an office as possible ; Corruption is relatively low you can count on the legal system ; Outsourcing services is quite easy small accounting firms, legal firms, HR f

    irms are abundant

    Hungary

    ; Think very carefully about government regulations very regulated!

    ; Go for cheap products rather than quality

    ; Be ready for sharp volatilities in customer demand

    India

    ; Have a lot of cash in your wallet

    ; Have a pedigree family name or alma matter

    ; There is always someone who knows someone who can get the job done ; Should have strong contacts / networks among political circles ; Connections!

    ; Be aware of cultural sensitivities

    ; Understand culture and respect the values of the local people. Their beliefs

    and way of thinking will differ from yours, accept and recognize them ; Local knowledge

    ; Indians are very sentimental about religious beliefs

    ; Manage red tape

    ; Bureaucracy is insane. You have to cope with it

    ; Work is distributed between many people. It is not surprising to find a singl

    e document to pass through several hands before being complete ; Indians are very social people. They like to communicate and talk while they

     work

    ; Very large English-speaking population, hence potential for global communicat

    ion, no need to learn local languages

    ; Most Indians doing business speak English, so it isn‟t strictly a requirement t

    o know local languages

    ; Indians are generally very hard working

    ; India is a largely price-sensitive market

    ; Bribes are very common. It‟s changing slowly but it is a way of life

    ; Should be willing to cope with slack in professionalism and bribes to political

     leaders

    ; Should be willing to face the challenge as a result of intense good quality a

    nd low cost competition

    Italy

    ; Speak the language

    ; Pay on time

    ; Run background checks on peoples‟ qualifications

    ; Ask yourself who actually holds the power. Do not rely too much on formal

    rules and authorities

    ; Think creatively, be open to new ideas and ways of doing things ; Learn Italian, be friendly and not judgemental: it is hard to understand how

     Italy works from the outside

    ; Speak Italian! (English is optional…)

    ; Be humble and don‟t make too many jokes on stereotypes

    ; Enjoy 3 hour business dinners

    Lebanon

    ; Have good connections and make good use of corruption (i.e. corruption is s

    ometimes necessary)

    ; Expect to bribe a lot of people

    ; High end works well because Lebanese people are superficial and very show

    y

    ; Have good PR

    ; Adapt to a lack of organisation

    Malaysia

    ; Speak the three main languages fluently Malay, Mandarin, English

    ; You may find difficulty in pronouncing names but make an effort ; Have a good balance of westernised and Asian mind-set

    ; Have strong connections with higher society

    ; Be polite and humble. Malaysia is very ethnically diverse thus you should try

     to understand their backgrounds a little prior to meeting them ; Be patient and flexible with time

    ; When dealing with large organisations and the government expect a lot of r

    ed tape and bureaucracy

    ; You should be accustomed to clients taking tea breaks twice daily ; Driving is important if you travel frequently for work (Note: heavy traffic con

    gestion during rush hours 7-9:30am, 4:30-7pm)

    ; Malaysians tend to be late

    Netherlands

    ; You can be blunt/direct

    ; Dutch people are blunt and straightforward and they will appreciate plain sp

    eaking

    ; Don‟t bother learning Dutch

    ; Make your company a Dutch BU/MV lower taxes!

    ; Change generally will be only accepted after much deliberation and discussio

    n (everybody has the right to speak)

    ; The manager is not seen as the boss, but as the first among equals. So, if

    you are leading a team, don‟t be too authoritarian. Act as the colleague wh

    o has most influence rather than as the ultimate arbiter on all decisions ; Act normal, then you act crazy enough (Dutch saying: To act normal is craz

    y enough)

    ; Be modest about your achievements. People who talk too much about their

    successes in life are not appreciated. So do not think of yourself as somethi

    ng special

    ; In you‟re giving a present, Dutch people like presents they can‟t buy in their

     own country

    Pakistan

    ; Have connections

    ; Be prepared for runt work

    ; Be courageous

    Romania

    ; Accept laid-back attitudes

    ; Be street-smart

    ; Business meetings are more focussed on good times than actual business tal

    k

    Russia

    ; High level of red tape and corruption

    ; Learn to deal with government

    ; You will have to deal with bribes when dealing with any part of the Russian

     government

    ; Government relations and security officers are very important in large compa

    nies

    ; Personal connections and relations are crucial for success ; Knowing people in the institutions of authority and having their support is ke

    y for starting small/medium business

    ; Do not get in trouble with the police

    ; Despite the government‟s attempts to develop innovative industries, the most

     promising sectors are still energy and construction

    ; Don‟t trust anyone

    ; Learn to drink!

    ; Western companies in Russia are more meritocratic on average than national

     ones

    Slovakia

    ; Make friends in important places

; Know your competitors

    ; Produce outside of Bratislava region; sell in Bratislava South Africa

    ; Arrive promptly

    ; Be honest

    ; Don‟t forget the kick-back

    South Korea

    ; Be quick

    ; Be humble and loyal

    ; Be ready to work long hours

    ; Be very respectful for age and be punctual

    ; Try to think your colleagues as one united body. You can come and leave th

    e office at similar times. Do help people out when possible ; Do not miss any of the social mixers. Consider them also as a crucial part o

    f your work duty

    Spain

    ; LEARN SPANISH and the regional languages proud regional identity ; Do not discuss business/deals at lunch but in the office ; Be punctual but do not expect punctuality

    ; Be prepared for chaotic business negotiations; we love speaking simultaneous

    ly J

    ; Be prepared to stay up late. A business dinner will start at around 9:00pm

    and last until 12:00

    Switzerland

    ; Be on time

    ; Be international

    ; Be as specific as possible

    Taiwan

    ; Need to be a good drinker

    ; When having a business dinner, never finish the last piece in every shared d

    ish

    ; A great portion of businesses are discussed and negotiated in eating and dri

    nking occasions instead of in offices, so do join those occasions! ; Know some key governors

    ; Prepare gifts to main clients during Chinese New Year, Dragon Boat Festival

    and Moon Festival

    Thailand

    ; Smile!

    ; Be humble, polite, respectful (personal relations are important) ; Respect elders.

    ; Thai people avoid direct criticism and confrontation, prefer indirect

    Turkey

    ; As a sign of respect you should always address the eldest or most senior pe

    rson in the room first

    ; Turkish people enjoy answering questions on their culture or having a conver

    sation with people who have some knowledge of Turkey. It may be a good

    start to ask a Turkish man which football team he supports

    ; According to the protocol f Turkish hospitality the host always pays for the

    meal. The concept of sharing the bill is very rude

    ; Do not use deadlines or pressure tactics as the Turks will use this to their a

    dvantage and reverse the tactic by threating to cancel agreements or end n

    egotiations

    ; Imports and exports are unrestricted and exchange control is limited to certa

    in formalities

    Ukraine

    ; You will need to pay bribes

    ; If you pay bribes you don‟t need to pay taxes

    ; If you pay taxes this doesn‟t mean you won‟t have to pay bribes

    United Kingdom

    ; Formality depends on the sector

    ; Heathrow, Gatwick, City airports are primary business airports

Report this document

For any questions or suggestions please email
cust-service@docsford.com