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Various Aspects that Companies Need to Consider when Operating in A Foreign Market Place

Operating in a foreign country is not easy for a company. It needs to take care of certain cultural aspects so that they can function and perform without any hindrances and issues. A few of them can be listed as:

  1. Language: Language plays an important role in the operations of a business. The company should be aware and well versed with the local language of the foreign country so as to avoid any problems in communication (Jhinghan, 2016).
  2. Religion: Religion is a major factor that influences various dimensions of life. It affects the tastes and preferences of consumers in different manners. So, the company operating internationally should take into consideration the religions of the foreign country in which it is operating. So that it can take into due consideration the preferences of the consumers (Trade Ready, 2017).
  3. Ethics and values: the businesses and firms operating in other countries need to take into regard the values and various ethics of the countries in which they are operating. As to be aware of the buyers and the market ethical considerations have to be given attention so that the companies get a foothold of the activities (Kostova et al., 2017). 
  4. Cultural tastes: the first and foremost thing which companies need to consider is the taste of consumers. For example- if a Chinese company wants to open up a restaurant in India it has to take into consideration Indian cuisine as well along with Chinese cuisine. 

Thus, with the above-listed points, it is evident that cultural aspects play a great role in the business activities and operations of a business. It can make a business run with a huge amount of profits or else it can make it completely shut down and the business can incur large losses. 

References for Cultural Considerations

Kostova, T., Buegelsdijk, S., Kunst, V.E., Spadafora, E. & Essen, M.V. (2017) Cultural difference and firm internationalization: A meta-analytical review and theoretical implications. Journal of Management, 44(1), 89-130.

Jhinghan, M.L. (2016). International Economics. Vrinda Publications.

Trade Ready. (2017). 7 cultural factors you need to consider when choosing your next export market. Retrieved from http://www.tradeready.ca/2017/topics/researchdevelopment/5-cultural-factors-need-consider-choosing-next-export-market/

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