Chinese Business Essay Example for Free

Chinese Business Essay Introduction It is often argued that when business persons of different cultures negotiate commercial deals, there is bound to be a culture clash. I disagree with this view. It is true that cultural differences influence business negotiations but with the appropriate approach to deal with the differences, culture clash is to be least expected in any business negotiations, especially with the Chinese. As Sun Tzu would advised in his book The Art of War â€Å"Know your enemy and know yourself and you will win all battles† (Sun Tzu 1913). According to Newstrom and Davis (2002) there are many striking differences across countries, just as there are some surprising similarities. Clearly, residents of each country have their own preferences for clothes, food, recreation, and housing. In his research about national cultures of sixty countries, Hofstede (1993) revealed that cultures differ in five key factors namely, individualism/collectivism, power distance, uncertainty avoidance, masculinity/femininity, and time orientation. Among these factors, the Chinese have the culture that value clarity and have the kind of orientation that accent values such as necessity of preparing for the future, the value of thrift and savings, and the merits of persistence. Literatures on different cultures also classify China as high-context culture which tends to emphasize personal relations, place value on trust, focus on non-verbal cues, and accent the need to attend to social needs before business matters (Newstrom and Davis 2002). Culture is very important in certain country such as China. Huntinghon (2000) as cited by Fellner (2008) defined culture as the values, attitudes, beliefs, and underlying assumptions prevalent among people in a society. He stressed that culture is dynamic, interactive, and synergistic, and intermixes with all the elements of the society such as business and economic development (Huntinghon 2000; Fellner 2008). Huiping (2009) stated in her article entitled Understanding Chinese culture leads to business success with China’s growing significance as an economic superpower  understanding the Chinese psyche becomes very helpful and useful in business negotiations management of supplier relations and many other business situations. As emphasized by Uthaisangchai (n. d. ), Chinese history and culture has impact on the way they do business and each of the many elements of the Chinese culture has a role to play in today Chinese business world. In Hofstede’s (1980) theory of individualism-collectivism as cited by Jones (2009), the individualism and collectivism dimensions differs on the degree a culture is committed to an in-group such as extended family, company or village. In the individualistic society, people are less attached to an in-group (that is, people are more self-centered and in pursuit of their own self-interests). Meanwhile in the collectivist society, people are more attached to an in-group, that is the interests of the in-group come first. Jones (2009) also noted from Hofstede and Bond (1988) that such value of collectivism likely stems from a deep rooted, ingrained culture based on the traditional philosophy of Confucianism. Uthaisangchai (n.d,) gave emphasis of the teachings of Confucius in the development of the culture of Chinese. In the article entitled Connecting Confucianism, Communism and the Chinese Culture of Commerce, Keller and Kronstedt (2005) explained that Confucianism is a very important component of the Chinese culture. â€Å"In a Confucian society, everyone has a role to play, and the key relationship is built around the family†¦ Chinese cultures value family connections and protecting relationships (saving face). Developing ‘family-like’ relationships takes time and patience, not merely a contractual deal based solely on money. If one has to do business in a Chinese culture, it is critical to understand and respect Confucian values† (Keller and Kronstedt 2005). Keller and Kronstedt (2005) further emphasized the significance of connections-Guanxi. In Confusian-based society like China, guanxi or proper connections are more crucial than price, product, place, etc. According to Jones (2009), China is known for being loyal to their in-group’ and favoring them in business related decision. As given emphasis by Li (2008) as cited by Jones (2009), understanding the guanxi is critical for conducting business in China and it involves cultivating trust, credibility and reciprocity. One way to understand cultural differences is through the concepts of high-context culture and low-context culture. The notion of ‘context’ can be understood as the social environment in which a business transaction takes place. Edward T. Hall’s theory of high- and low-context culture explains the powerful effect culture has on communication. The countries classified as high-context cultures include China, Korea, Japan, Middle East, Africa, Italy and South America in which people are characterized as collectivists, relational, contemplative and intuitive. This implies that the people in these societies put emphasis on good relationship between members of the society. In relation to business transactions, the development of trust is a very important step. Hall (1976) argued that the people in high-context cultures prefer harmony in group and agreement for the achievement of individual members; also individuals make decisions based on their feelings or intuition. The theory further emphasized that individuals focus on non-verbal cues, that is, words are not so significant in communication as compared to context; rather, more is given emphasis on context which include facial expression, tone of voice of the speaker, posture, gestures, and family history and status of the individual. The communication in the high-context culture is depicted as formal and indirect, which suggests that flowery humility, flowery language, and apologies that are often too elaborated are common. Also, communicators in this type of culture do not depend on language precision and legal documents. Meanwhile, the countries classified as having low-context culture include Germany, North America, Finland, Canada, Norway, Denmark, and Sweden are linear, logical, action-oriented, and individualistic. Individuals in the low-context countries value facts, logic and they prefer directness. Finding solutions to problems involves identifying and enumerating all the facts and evaluating each of the options. Also, each decision is based on facts; more often each discussion ends with an action. Communicators in this type of culture are anticipated to be concise, straightforward, and efficient in conveying the action that is expected. According to Hall (1976), communicators have to be precise in the words used in communicating to be absolutely understood. All negotiations are always concluded with definite contracts. Summing up the differences, on the one hand, high-context cultures tend to emphasize personal relations, place high value on trust, focus on nonverbal cues, and accent the need to attend to social needs before business matters. On the other hand, low-context cultures tend to interpret cues more literally. Individuals tend to rely on written rules and legal documents, conduct business first, and value expertise and performance. With these classifications of cultures, it is apparent that when Americans negotiate with Chinese, a failure in negotiation if not a culture is more likely if the former group is not familiar with the latter. As noted by Minor and Lamberton (2010) from an interview with intercultural communication expert ray Ruiz: â€Å"Countries in Latin American and Asia value the building of relationships, but each in their own unique way. Before traveling to another country, I would recommend reading appropriate materials and speaking with foreign nationals residing in the U. S. in regards to the customs and business practices in their country of origin. I would also suggest that, once in a foreign country, it is important to observe your host’s mannerisms and responses and respectfully respond in a like manner. Be well versed on acceptable and unacceptable behaviors. For example, when in Asia, do compliment and share your impressions of their country. Do not decline any food or drink because this is viewed as an insult. In Latin America, do begin all meetings with friendly conversation regarding family or other social topics. Do not begin a meeting delving directly into the business objective. The lesson many American business people fail to learn is that â€Å"it is all in the relationships† (Minor Lamberton 2010). In his article Doing Business In and With China: The risks are great, but so are the rewards, Atkinson (2004) noted from Stephen Nelson, the partner and co-head of the China practice group for the Hong Kong-based law firm Baker McKenzie, that when acquiring businesses in China, it is important to realize that there are perceived cultural differences. One of the important lessons in making business in China is that foreigners simply cannot enter a venture in China with only a cursory understanding of its terms and conditions. Atkinson (2004) cited an example of a US company that recently decided to make an investment in China by setting up a joint company through its Hong Kong manufacturing agent. The US company sent over $3 million worth of equipment, then came to us with documentation written in Chinese and asked ‘Can you look at this and tell us whether we really own 50 percent of this company? ’ Akgunes et al (2012) identified several points to consider for successful negotiations. According to Zhao (2000) as cited by Akgunes et al (2012), negotiations become successful when the participating parties are cooperative with one another; this can be done by applying the cooperative Confucian tactics. Also, for a western company like a US company, such company has to show that they have government support which is an indication that they are reliable, stable and credible to do business with. According to Fang (2006) as noted by Akgunes (2012), trust will lead to much better performance and being patient will be more beneficial to you than any other attribute you might possess. Bredin (1998) as cited by Akgunes (2012) also suggested that a foreign business negotiator should not give in to pressure from superiors to hurry up and complete the deal because can cause problems because the Chinese are not greatly concerned with the time dimension. There are companies that also failed to successfully negotiate business deals with the Chinese. According to Fang (2006) as cited by Akgunes (2012), the most common reason for failure is that the Chinese firm lacks the funds to go through with a deal. Also, sending a low-ranking employee to make the negotiation will be viewed as very impolite and the Chinese may find it insulting and insincere, in this case failure is also almost certain. Moreover, it is important to note from Sebenius (2002) as cited by Akgunes (2012) that Chinese law says that one cannot leave a contract unless both sides approve dissolution. Fang (2006) as cited by Akgunes et al (2012) also emphasized that Failure to say no to a Chinese negotiator who is using a Sun Tzu-like strategy could be detrimental to the deal, but on the other hand, saying â€Å"no† to a Confucian gentleman could cause a loss of face. This also will be very harmful, if not fatal, to a successful deal. The Chinese have regional areas just like the United States and there are very different cultures, traditions and sometimes languages in these regions. Not acknowledging these regions can cause you to have limited success in one area and a complete failure in another (Fang 2006; Akgunes 2012). Conclusion In conclusion, like what Sun Tzu have said in his book The Art of War â€Å"Know your enemy and know yourself and you will win all battles† (Sun Tzu 1913). This means that for companies to be successful in making business deals, having the capital is not enough to close a business deal. Knowledge and understanding of the culture of the prospect business partner is very important. Other than this, Sebenius (2002) emphasized that culturl allegiances are often not as simple as they appear. Designing the right strategy and tactics in reaching the right people, with the right arguments, will result to a sustainable deal. References Fellner, Amira 2008, ‘Role of Culture in Economic Development: Case Study of China and Latin America’, Graduate School Theses, University of South Florisa Schoalr Commons, viewed from http://scholarcommons. usf. edu/cgi/viewcontent. cgi? article=1235context=etd Hall, Edward 1976, Beyond Culture. Hofstede, Geert 1993, ‘Cultural Constraints in Management Theories’, Academy of Management Executive, pp. 81-94. Jones, Gwen 2009, ‘Differences in the Perceptions of Unethical Workplace Behaviors among Chinese and American Business Professionals, Competition Forum, vol. 7, no. 2, pp. 473-480. Keller, G. Kronstedt C. 2005, ‘Connecting Confucianism, Communicsm, and the Chinese Culture of Commerce’. Journal of Language for International Business, vol. 26, no. 1, pp. 60-75. Minor, Leslie Lamberton, Lowell 2010, ‘High-Context Low-Context Cultures’, viewed from http://www.cascadebusnews. com/business-tips/networking/154-high-context-a-low-context-cultures. Newstrom, JW. Davis, K. 2002, Organizational Behavior: Human Behavior at Work, McGraw-Hill Sun Tzu 1913, The Art of War. Uthaisangchai, Prasong (n. d. ), ‘The Importance of Understanding Chinese Culture’, viewed form http://www. bangkokbank. com/download/Week%2012%20Culture%20intro. pdf Huiping, Iler 2009, ‘Understanding Chinese Culture Leads to Business Success, Canadian HR Report, vol. 22, no. 12, pp. 18.

Plagiarism and the Internet :: Free Essays Online

Plagiarism and the Internet Plagiarism is a form of theft in which someone not only steals someone elseà °s words or ideas but pretends that they invented them. Plagiarism can result in lawsuits when copyrights are violated, such as in the case of 2 Live Crew who used a Roy Orbison song without consent of the copyright owner. The lines that draw this plagiarism trap are sometimes obscured, but are clearly articulated in resources such as The Hamilton College Honor Code. If instructors assign readings such as these, students will be without excuse for this common form of cheating. With the tools of today as given by the Internet, students have more information at their fingertips than ever before. Information and sources are easily acquired and many web sites are even open strictly for the use of plagiarizing, providing essays and reports students can copy. Teachers and professors could frustrate themselves by trying to find which particular website a student used to plagiarize. Surveys reflect the high percentage of exasperated teachers who feel defeated in this war against plagiarism (www.plagiarism.org/plagiarism_stats.html, p. 1 of 2). Can students act to remedy this problem? They can wage war against the websites that aid students in cheating by trying to expose them to higher authorities. This may lead to the closer observance of the forming of these websites and considerably lessen that form of plagiarizing. Teachers and professors could tailor writing assignments to make it harder to be plagiarized or put more of the weight of the grade on in-class testing. This particular writing assignment might be hard to plagiarize because it had specified topics with three issues to be addressed in relation to one another. Perhaps creative assignments would aid in the fight. Finally, students with

Is Gold a Safe Investment in the Current Economic Situation

Is gold a safe investment in the current economic situation? Global demand for gold has been on the rise and with good reason- the price of the precious metal has been consistently breaking new highs even though markets throughout the world remain weak (Lee, 2011). In the last decade alone, gold has achieved a 500% increase in value and more relevantly, it has soared from $1400 (an ounce) in January this year to a peak of $1920 (Prial, 2011). Thiru (2011) of Lloyd TSB, determined that gold has provided the best returns for investors in 2011 (as cited in Lee, 2011).However, distinguished private banks and investors remain cynical of gold’s invariable rise and have even deemed the asset as â€Å"the ultimate bubble that will eventually burst† (Soros, 2010; as cited in Conway, 2010). Despite the warnings of George Soros and Wells Fargo, the yellow metal continues to sustain its steady run and is, according to West (2011), looking stronger now than it has ever been in the l ast decade. This study aims to investigate the justifications behind gold’s rising value and will also consider the relevant refutations that discredit the commodity’s safe haven status.The recent appreciation in gold prices can be substantiated on a wide array of merits, disapproving the claims that the commodity is artificially overvalued. Firstly, as affirmed by Spall (2008), gold retains its value even during inflation and consequently, has become a popular avenue for wealth investment in periods of great uncertainty. Early signs of global economic instability induced the European Central bank to heavily reinforce its gold position more than 2 years ago (Prial, 2011).And while the Euro zone truly faces a deepened fiscal crisis, gold is becoming even more attractive still. Because most economies throughout the world remain weak, currencies such as the Swiss Franc, dollar assets such as US treasury bills and other investments that were once considered secure, have lo st the confidence and backing of investors. Alternatively, people look to gold as a stronger and safer investment. Ironically enough, economies that do manage positive growth, such as China and India, have also been witnessing rising demand for the yellow metal.In the case of India, this comes in the form of consumer goods such as jewelry. The People’s Bank of China has one of the lowest rates of gold reserves but is planning to double its issuance of gold bullion Chinese coins in the near future (Holmes, 2011). In the past the gold standard was used as a basis for exchange, but inefficiencies in substantiating the system saw the link between the US dollar and gold removed. Nonetheless, the value of gold still retains a strong correlation to the value of the dollar (Hajjar, 2011).With the Federal Reserve’s freedom to print money, the value of the dollar in circulation has reached trillions. Contrastingly, levels of gold production have remained moderately constant thro ughout time. The imbalance in the value of USDs versus the value of gold reserves, gives the commodity augmented capacity for further price increases. The soaring gold prices can also be explained by the unconventionally large amounts of quantitative easing that has taken place in recent years. Such a policy causes inflation and uncertainty, which in turn makes gold more popular.In late September, Ben Bernanke declared ‘Operation Twist’ -which would cease additional printing of money. Commodity markets responded poorly to the announcement, with gold devaluing by nearly 9% in just two days (Prial, 2011). Although gold prices eventually sustained in value and proceeded with its run, the commodity’s sharp plummet after a single policy revision creates doubt in the safety of gold investments. It also introduces the possibility that gold’s upward trend has been the result of risky commodity speculation.Nevertheless, by acknowledging the current level of economi c instability, lack in investment alternatives and unstable dollar value, the present high price of gold can be easily accepted. An educated guess would have me value the yellow metal at a stable $1700 an ounce by the end of this year. As long as market volatility persists, gold will be able to keep its high prices afloat and retain its position as a safe investment. If the commodity truly is in a bubble, then it is likely to burst- in a convincingly upward manner.

Global Privacy… Are You Being Watched Essay - 2328 Words

Global Privacy†¦ Are You Being Watched Introduction Privacy has grown to become an intensely complex and important human rights topic in the information age. The right to privacy underlines human dignity. One of the first privacy laws can be traced back hundreds of years, to 1361, when England enacted the Justice of the Peace Act, which allowed the arrest of eavesdroppers and peeping toms.1 About every country in the world explicitly recognizes a right of privacy in their constitution, allowing people to have a right to home communication secrecy and inviolability at the very least. Although the right to privacy is not explicitly documented in the United States’, Ireland’s or India’s Constitution, it†¦show more content†¦CAPS II is different than a new system that is in proposal. Fortunately, it seems that CAPPS II intrudes on personal privacy to a very nominal degree. It checks for relatively non-personal data, such as: if the passenger bought a one-way ticket or if the passenger paid by cash instead of credit card. The Transportation Security Administration, however, states that the system is outdated and easily deceived. They are currently proposing improvements to the system, which will check the passenger’s name and information against a database of private data mining companies that collect very personal inform ation from people for commercial reasons.2 If successful, various countries in Europe and Asia are likely to adopt a form of the new system. Almost any personal record, including shopping habits, credit card information, library book checkouts, and Internet page visits can be observed by the TSA’s proposed system. Practical and Ethical Issues of the New System A 747 carries almost four hundred people. 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