Factors To Consider
Successful International Businesses
Introduction
Outsourcing
Communication
Being able to communicate effectively in foreign places is extremely important if a company plans to expand their business internationally. Understanding that not all people can speak some of the most highly spoken languages around the world such as English, companies need to be able to communicate fluently with foreign consumers. Englewood Construction Management is a company who believes in strong communication with their business partners. They are a company who focuses on building retail stores. They have worked on many projects in Canada, the United States, and are hoping to expand further. "Make sure you ask about your retail contractor’s capabilities to communicate effectively with you or if translators are needed (and who will pay for that expense)" (EnglewoodConstructionManagement). They emphasize communication because if there is a lack of communication, the operation may not go as smoothly as necessary. For example, McDonald is another successful international company who translate their advertisements to communicate with people within different countries around the world. Though McDonald's is in the food industry, they also rely on communication as being a big factor in success. "This proved to be a major issue for management as the communication barrier was of great intensity especially that between McDonald's and the Indian public. To address this issue, at least eight languages were used for national launches"(Dess, Lumpkin & Eisner, 2008). Majority of the population in India are illiterate and so hearing advertisements in a language they understand will inform them better than an English advertisement would. Employees at McDonald's can also speak a variety of different languages, and English to better help customers with taking orders. A language barrier could even cause a business not to do something the consumer wants correctly or there can be a misunderstanding of tasks to complete, costs and etc. It is significant to have a way of communicating with your business partners by speaking the same language or having a translator to understand and explain to one another what is being said. This will benefit you to perform your job in foreign countries precisely.
Culture
Conducting business on a global basis requires a good understanding of different cultures. Something may work in one country but might not work well in another. To some degree, not understanding a culture may even lead to unintentional insult that resists business deals from occurring. When conducting business in other countries, learning simple gestures or business ethics which your future business partner may follow is a sign of respect. Some cultures may respond or act to situations differently then where the company originated from is not use to. They have to be patient and understand that it is not always a negative impression but just their way of responding. In the International HR Forum article it said, "When George Bush gave Chinese Premier Li Peng a gift of cowboy boots embroidered with the American and Chinese flags, was it an appropriate gift? In China, the soles of the feet are considered to be the lowliest part of the body and gifts of footwear, no less embossed with the nations’ respective flag, was a significant miss on the part of administration protocol experts” (Hummel, 2010) This is an example of how the prior President of the United States unintentionally insulted Premier Li Peng. George Bush should have understood the Chinese culture before giving a gift. This mistake can happen in any business in any industry over anything which makes it extremely important to understand the culture to make good impressions. Learning and adapting to different cultures can improve potential international success for industries like retail trade, manufacturing, construction, and more. Not understanding the culture of people can ruin business deals and friendships between people, government, and consumers. The government and business companies may not have as many successful business deals because they cannot "respect" the opposite party. Though it could have been a misunderstanding, the understanding of a culture could make or break a deal.
Government Regulations
Innovation
Organization
Corporate Social Responsibility
Conclusion
International business plays a huge part in our Canadian Economy. Multiple steps must be taken in order to succeed in a business, along with dedication and commitment. Successful businesses always need to constantly innovate and expand within the factors mentioned to be internationally successful in many industries.
Appendices
Name: Amar Singh
Date: October 2nd, 2013
Business Name: TransCanada
Industry: Construction
Topic: Outsourcing
Subtopic: Public Relations
Title of Article:"TransCanada's Southern Keystone XL leg to be Completed Soon"
Link:
http://ca.reuters.com/article/businessNews/idCABRE9910M120131002
Source Name: Reuters Canada
Type of Source: Newspaper
Date of Source: August 8th, 2013
1. The 700,000 barrel per day pipeline will carry crude oil from Cushing, Oklahoma, delivery point of the U.S. crude oil future contract, to the Gulf Coast
2. The line fill is expected to draw a significant volume of oil stocks from the Cushing storage hub, traders said
3. The decision on building the northern leg of Keystone XL, which would carry crude from the Canadian oil sands to Cushing, is not expected to be made in Washington until next year
Amar Singh
Business Name: Warrior Group
Industry: Construction
Date: Oct 9th, 2013
Topic: Outsourcing
Subtopic: Public Relations
Title of Article:How A Texas Construction Company Stays Competitive in a Changing Economy
Link:
http://warriorconstruction.com/
Source Name: Reuters Canada
Type of Source: Online Article
Date of Source: July 10th, 2012
1. Warrior Group provides construction services for public and private sector clients across the United States
2.Our projects range from 300,000+ square foot new construction to occupied renovations of school facilities
3. Within the construction industry, Warrior Group has raised awareness of PMC and changed the perception of modular, demonstrating how prefabrication and the application of modern manufacturing techniques is the future of construction. Today, more and more architects and engineers are looking for ways to use modularization and prefabrication in new buildings.
Name: Amar Singh
Date: May 18, 2011
Business Name: Englewood
Industry: Construction
Topic: How to be successfully intnationally in the construction industry
Subtopic: Public Relations
Title of Article: "Observations and Conversations about Commercial Construction"
Source Name: Englewood Construction Management
Type of Source: Online Article
Date of Source: Oct 23rd, 2013
1. Designs must reach municipality's requirements.
2. Timezones play a major factor. Need technologies that can allow you to communicate when doing construction internationally because of the different time zones like Skype.
3. Language barriers is another issue that must be determined on how to communicate with what ever country your doing contruction with or for. Without communication, it would make the job much harder to understand what is exactly wanted.
Name: Amar Singh
Date: December 11th, 2013
Business Name:
Industry: Construction
Topic: Outsourcing
Subtopic: Public Relations
Title of Article:"Great Wall Builders"
Source Name: The Economist
Type of Source: Newspaper
Date of Source: Oct 27th, 2012
1.Julian Bu of Jefferies, an investment bank, says their main advantage, low labour costs, is little help in places where they cannot bring lots of Chinese workers over.
2. Lower down the league, though, firms from Brazil, India and Turkey are also venturing beyond their home turf, especially to places like the Gulf, where oil and gas money is fuelling a building boom
3.The important thing is not to chase market share: it is better to be fifth or sixth in a particular market and still make money. That is a lesson many rich-world construction firms learned the hard way.
Name: Amar Singh
Date: Dec 22, 2013
Business Name: Outsourcing Construction Services
Industry: Construction
Topic:
Subtopic: Public Relations
Link:
http://www.outsourcedconstruction.com/content/current-activities
Source Name: Official Site
Type of Source: Site
Date of Source: May 10th, 2012
1. Work on in-home construction.
2. Emphasizes outsourcing as being a important role in the companies success.
3. Organization is a huge role that also impacts how efficient they can be.
Name: Amar Singh
Date: December 22, 2013
Business Name: Desara
Industry: Construction
Topic: Construction Culture
Subtopic: Public Relations
Title of Article: " The Importance of Culture when Conducting International Business"
Link:
http://desaragroup.com/2013/03/20/the-importance-of-culture-when-conducting-business-overseas/
Source Name: The Desara Group
Type of Source: Site
Date of Source: August 8th, 2013
1. Discusses the importance of on how understanding different perspectives of culture is effective in international construction success.
2. Talks about different hand gestures and what is meant by them.
3. Construction companies need to realize that not all countries use the same materials for construction so they need to adapt to that.
Name: Amar Singh
Date: December 23rd, 2013
Business Name: Nasdaq
Industry: Construction
Topic:
Subtopic: Public Relations
Title of Article:"Hill International to Manage Construction of Three Transportation Projects in Southern California"
Source Name:
Type of Source: Article
Date of Source: November 18th, 2013
1. 4,000 employees in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets.
2. They are the global leader in managing construction risk.
3. Engineering News-Record magazine recently ranked Hill as the 9th largest construction management firm in the United States.
References
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2) "LATEST NEWS." Welcome to Warrior Construction. Web. 13 Jan. 2014. <http://warriorconstruction.com/>.
3) "Observations and Conversations about Commercial Construction, Development and Management." Web. 13 Jan. 2014. <http://commercialconstruction.com/commercial-construction-checklist-to-successful-international-retail-projects/>.
4) The Economist. The Economist Newspaper, Web. 13 Jan. 2014. <http://www.economist.com/news/business/>.
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7) "Hill International to Manage Construction of Three Transportation Projects in Southern California." NASDAQ.com. Web. 13 Jan. 2014. <http://www.nasdaq.com/press-release/hill-international-to-manage-construction-of-three-transportation-projects-in-southern-california-20140108-00391>.
8) "About Us." Panasonic Ventures, Web. 13 Jan. 2014. <http://www.panasonicventures.com/about-us.php>.
9) "Can Restaurants in India Legally Serve Beef?" India Real Time RSS. Web. 13 Jan. 2014. <http://blogs.wsj.com/indiarealtime/2012/05/21/is-it-legal-for-restaurants-in-india-to-serve-beef/>.
10) "International Franchising." AboutMcDonalds.com. Web. 13 Jan. 2014. <http://www.aboutmcdonalds.com/mcd/franchising/international_franchising.html>.
11) "Supportive Information and Links Reader Rating: 5.00." Government of Canada, Industry Canada, National Capital Region, Office of the Deputy Minister, Senior Associate Deputy Minister, Strategic Policy Sector, Strategic Policy Branch. Web. 13 Jan. 2014. <http://www.ic.gc.ca/eic/site/csr-rse.nsf/eng/h_rs00018.html>.
12) "Why Culture Is Important In International Business." Universal Consensus WHY CULTURE IS IMPORTANT IN INTERNATIONAL BUSINESS Comments. Web. 13 Jan. 2014. <http://www.universalconsensus.com/2009/12/02/why-culture-is-important-in-international-business/>.