References: McConnell, Campbell; Brue, Stanley; Flynn, Sean, (2012). Economics. (19th ed.). McGraw-Hill Higher Education.
References: McConnell, Campbell; Brue, Stanley; Flynn, Sean, (2012). Economics. (19th ed.). McGraw-Hill Higher Education.
-While they work with companies from other nations, they may have problems with transportation, language and culture.…
Korea lies in the eastern part of Asia. This peninsula is divided into two countries: North Korea and South Korea. Although there is a division of landscape, government, and culture, the bulk of people in Korea consider themselves a part of the Korean nation. Regardless of that, the countries do have their differences. The entire peninsula is cut off from Northeast China by rugged mountains and sizable rivers (Rowntree 365). The north suffers from heavy deforestation, however it has more natural resources. The south has made extensive reforestation efforts post WWII and so they have more greenery. In terms of culture, there are more intense differences. In the South, k-pop and Korean drams have gone global. The culture has appealed to people worldwide. Meanwhile, North Korea remains somewhat in isolation. What’s more, North Koreans attempt to flee into Northeast China, quite often. Yet no one flees South Korea. This shows that there are different cultures and levels of comfort in each…
Communication is very important in the business world and is required when expanding business to other countries. To have a complete understanding of a different culture, there has to be respect of customs, manners, and ethnicities. It is important to understand being able to communicate both verbally and non-verbally is the key to success. Because each of the groups may speak a different language, it needs to be priority number one to make sure everyone is on the same page and there is no confusion. Some cultures can feel uncomfortable and insult others, when there is a lack of cultural understanding.…
6. What are the special challenges of having a boss who is from different culture than yours? What about having subordinates from different cultures?…
The culture of South Korea is influenced by many variables. Prior to the division of the Republic of Korea, the area that is now South Korea was occupied by Japanese rule. As expected, the cultures of Japan and neighboring Asian countries have had an effect on the cultural development of South Korea. Western Cultures have also had an effect on…
Korea is known as a country that showed miraculous economic growth, and considered one of the four tiger economies of Asia. Since the 1950s, South Korea has built a modern, internationally oriented industrial economy largely from scratch. This economy, the fourth-largest economies (after China, Japan and India) in Asia (World Bank 2014) is based on low –cost, high quality export production. Between the late 1980 and 1990s, the country has seen a massive influx of FDI projects to the South Korea, and recorded an increase quadruple the foreign investment projects during the previous 35 years (Kim & Lee 2007). This outcomes is generally attributed to the country’s transition to a more open and democratic political system after years of authoritarian rule, with a pro-business government. However, these changes have also posed a number of latent tremendous challenges to the international business operating in South Korea, which include overregulation, rising labour cost, and corruption…
South Korea has a free trade image and has strong foreign relationships. Operating in South Korea is normally problem free as a result of the centralization of power in their political system (which will be discussed under political ramifications), which favors consistency and therefore corporations doesn’t have to fear radical legal changes which could harm their position and operation in South Korea. As to the legal aspects in doing business in the country, there are only few restrictions that may cause concern. According to the World Bank’s Doing Business 2013 indicators doing business in South Korea is not problematic and the nation ranks 8th in the world.…
All these differences in culture between America and Korea result in a very different communication style. Koreans are more likely to communicate indirectly and are more prone to be apprehensive about…
In a certain Point of view, Korea has 2 distinctive Political cultures and values. Starting off with South Korea, or the ¡§Republic of Korea¡¨, the political culture of South Korea is a mix of native, Chinese and Western elements. These elements includes things such as the ¡§belief that human society was an integral part of the whole universe interrelated with it in maintaining order and harmony¡¨, ¡§acceptance of harmony, order, and consensus as major political values and purposes.¡¨,…
to overcome these cross cultural barriers by developing intercultural competence in the organizational set up.…
If possible, the best way to be introduced to a Korean business person is through a third party. The traditional greeting among Koreans is a bow but nowadays people also shake hands just as commonly though usually both a bow and a handshake are done at the same time. When shaking hands it is respectful to support your right forearm with your left hand, and when bowing juniors bow first and lower than their seniors. First meetings are usually meant for building a relationship so it is very common that Korean business people ask a lot of personal questions regarding age, family life, or work. This way they also find out how to treat their business partners, as authority and seniority are very important in Korean culture. On the first meetings it is important to exchange business cards which are usually presented and received with both hands as a sign of respect.…
When people from different nationalities or cultures come together in teams, meetings, negotiations, or as employees of the same company, they bring with them different expectations and beliefs of how they should work together. They have different concepts of what an organization is, how it should be managed, and how they should behave within it.…
Main language spoken and written in South Korea is Korean. The religious belief, from 2010 survey was that 43.3% have no religion, 24% are Protestants, 24.2% Buddhists, 7.6% Roman Catholic and 0.9% unknown (Central Intelligence Agency, 2013). Korean families hold ancestral ceremonies for the previous three generations (great grandparents, grandparents and parents) several times a year, but main ones are: Chuseok (Korean thanks giving day) and New Year’s Day (Kwintessential). The norm that Koreans follow is: Kibun which…
References: 1. ‘From Tradition to Consumption: Constructing a Capitalist Culture in South Korea.’ – author D.Hart (2003) – retrieved Feb 1 2013.…
In Korean culture, education is the key to success in life. The school one graduates from can determine whether one will be a success or failure. To many Korean parents, the education of their children outweighs all other considerations, and they will make tremendous sacrifices to let their children get the best education possible.…