Economics & Global Bus. Apps Essay Example | Topics and Well Written Essays - 1000 words

Economics & Global Bus. Apps - Essay ExampleChina on the other give has a very hierarchical and formal social structure which stretches to family, business and institutional life. For instance, celebrate for elders it is anticipate of children and the eldest family member bids the highest respect (Dipak 59). Collectivism vs. Individualism In china, individuals consider ideas in a incorporated sense in that before making a decision, they frequently consider the effects of their actions on their friends, colleagues and neighbors. Usually, decisions are not made for individual gain but for the greater good. In America, it is normal to make private motives and goals a priority over the collective ones. This attribute is frequently encouraged so as to invest drive and aspiration to attain personal and business success (Robert, Philip and Sarah 35). Business Relations Business traffic are a reflection of the individual and collective nature of the two societies. The term guan xi i s commonly employ in China and refers to emphasis being placed on the significance of expression social networks so as to carry out business (Dipak 71). This is mirrored in the significance of socializing with counterparts and getting to go them before signing a deal. As a result, ensuring a business deal in china is frequently a long procedure. In the US on the other hand, business is a more(prenominal) cut throat procedure that emphasizes more on efficiency and speed rather than on building relationships. Morals and Values In America, individuals are comfortable astir(predicate) praising, playing up and talking about success openly with humility being considered a weakness by some. In the Chinese culture, respect and humility are very important. When talking about successes, it is expected of people to be modest and do each other well, or not to talk about them at all (Robert, Philip and Sarah 39). Additionally, in America, thither are grayer areas and the issue of morality is not set in stone but a upshot of discussion. In china however there is a firm sense of right and wrong. Freedom of thoughtfulness The people of china are bound sternly by protocol and believe it is better to esteem and respect the opinion of others even if you dont agree with them than to demand for other people to harmonize with your ideals. In American culture individuals are urged to argue on contentious issues regardless of whether they may adopt to confrontation all (Robert, Philip and Sarah 42). U.S. business practices in China vs. USA The 4 Ps of market have both similarities and differences in China and USA. The Price of a product has a high pushover of demand in China than in USA. While moving to China, it is important to ensure that a ships company establishes competitive and stable prices if a product is to compete with the existing products. Price changes have a higher(prenominal) effect on sales in China than in USA due to lower purchasing power of the Chin ese in comparison with Americans. Chinese buyers feel more exploited by occidental companies than by local ones thus making price elasticity for foreign companies in China higher than that of local companies. While considering the product, it is also important to build a strong brand in assemble to penetrate the Chinese market which is characterised by many popular brands. Use of Chinese name for a brand would be a plus rather than maintain the name the product uses in USA. harvesting quality is not as important as it is in USA.