Publisher's Synopsis
The contributors to Global Business Practices-Solutions to Improve Organizational Effectiveness, possess master's and bachelor's degrees in business management and information systems and business analytics. The principles, techniques, and methods contained in this book were presented in the corporate training for the Insight Consulting International Group, Inc. a business and training firm that holds a minority business enterprise (MBE) certification in the U.S. Business principles are universal, but business ethics and business approaches differ in other countries and industries. It appears there are a growing number of companies expanding abroad for greater opportunities and market growth. For many companies, international expansion offers a chance to grow, expand, and conquer new territories, thus increasing sales. Companies doing business in foreign countries and continents need to consider the tariff tax or duty paid on particular imports or exports. For example, "in the United States we currently have a trade-weighted average import tariff rate of 2.0 percent on industrial goods. However, one-half of all industrial goods entering the United States enter duty," according to the office of U.S. Trade. Most countries have a General Agreement on Tariffs and Trade (GATT) which is a multilateral agreement to promote international trade by reducing or eliminating trade barriers such as tariffs. Trade agreement purposes are to open markets and expand opportunities. In the U.S. trade agreement not only can help American workers, and businesses, but they can help U.S. companies enter and compete more easily in the global market. Trade agreements also strengthen the business climate by including commitments on the reduction and elimination of tariffs and the elimination of a variety of non-tariff barriers that restrict or distort trade flows according to the U.S. Office of Trade. International negotiations are a crucial topic for organizations looking to do business in other countries. In some countries women are respected because female leaders can be influential in business negotiations. In other countries women earn less than men across the board and are discriminated against in pay, hiring and promotion. Gender equality and fairness are human rights and men, women, boys and girls deserve the same rights of protection and opportunities. As not to offend, it is important to understand gender equality and the differences in cultures, values, and business practices. The lack of and insensitivity to culture can result in loss of contracts. Culture profoundly influences how people think, communicate, and behave. Culture affects the kinds of transactions and the way they are negotiated. America is considered a Western country and many leaders are straight-line and direct when doing business. Culture awareness can help improve international business negotiations. Professional training can improve the effectiveness of employee performance, cultural awareness, and communication conversation of U.S. multinational companies. Developing a cultural competent staff is the most valuable investment you can make to understand, communicate with, and effectively interact with people across cultures, and work with varying cultural beliefs and business practices. Approaching cultural differences with sensitivity and willingness to learn can build good relationships. Developing cross-cultural communication is vital to the success of any business relationship. Doing business in developing countries can improve infrastructure and expand product and services to improve the economy and growth of the company. Many countries need new roads and railways to gain better access. These team building strategies and methods help leaders create, build organize, cohesive and unified teams. Training can create innovative, transforming, and productive leaders that stay relevant in this global economy.
