Cultural Issues Affecting International Trade
|Unit 1.2-Cultural Issues Affecting International Trade||
Unit 1.2- Cultural Issues Affecting International Trade
Understanding cultural differences is a critical aspect of international business. An international manager is not expected to master the cultures of the world; however, understanding the ways culture affects business is necessary. When selecting markets for entry or as a source of supply, an international manager must become familiar with the specific cultural factors, business etiquette and issues involved in conducting business abroad.
The goal of this material is to introduce you to cultural issues that may arise in a buyer’s country and the impact they may have on payment and money transmission methods, as well as the level of government control, corruption issues and sources of financing that may or may not be available in the country. By the end of this unit your will be able to:
- identify cultural issues that may impact trade finance negotiations.
- identify cultural issues that may affect international finance methods.
Correlation: Materials from this unit correlate with NASBITE CGCP's Knowledge Statement 04/01/02: Knowledge of cultural issues of buyer’s country which may impact payment methods, money transmission methods, language used, credit control procedures, level of governmental control, corruptionissues, and sources of finance