Cultural Factors & Tariffs Effects on Global Industries

Cultural Factors & Tariffs Effects on Global Industries

DeVry University Introduction to Business and Technology

Professor Travis Williams

Abstract

Some of the top cultural factors that could help the U.S. sports franchises grow internationally now are still the same factors as the past. Race, a social difference among our own that we had to be recognized and changed. This is a large factor in the growth of sports in our own country. Race issues still cause problems for our international growth. Technology and financial ability are some of the most black and white of the cultural factors. Can their technology support our broadcasting and is it profitable for us?

Franchises can analyze an international market for their cultural factors. These companies need to determine if they will be able to do business as globally recognized entity. Different international markets require different guidelines. The only way for success to be achieved is for the franchises to adapt to these guidelines and maintain their global entity at the same time.

Industries are protected by our tariffs, but at what cost? With or without tariffs American consumers prices are affected. Prices rise when tariffs keep international business out. On the other hand, businesses fail when competing with the low production cost of imported products. Tariffs cannot be taken lightly because they can have a negative effect either way. The hard part is deciding which is the greater of two evils.

Sports in the United States have become very popular and an important part of our American culture. This does not mean that other new international markets feel the same way. There are multiple cultural differences that should be taken into consideration when deciding if an international market is the right place for the broadcasting of franchised U.S. sports. Race and technology are two cultural differences that heavily impact a decision to enter a new international...