Doing Business in Global Markets

Doing Business in Global Markets

Abstract

This paper will help to describe and explain some dynamics of doing business in global markets. First, I would like to explain some of the cultural factors that U.S. sports franchises must overcome to increase popularity abroad. Secondly, I will be addressing how franchises can ensure its products are appropriate for international markets. Lastly, should governments protect its industries by placing tariffs on imported products? We will be taking a look into this question as well as you continue in your reading.

The word culture refers to the set of values, beliefs, rules, and institutions held by a specific group of people. Culture can include social structures, religion, manners and customs, values and attitudes, language, and personal communication. (Doing Business in Global Markets, p. 73) One of the most important things that affect a person’s culture is their religion. Other than the color of our skin we as a people don’t have too many things to adopt as a culture. We conduct ourselves in many different ways that does not coexist in other religions. For example, we allow our women to dress as they see fit with comparison to Islamic women who must dress while covering their faces.

We as a country give ourselves more freedom to do what it is that makes us happy. Yet, we have a government that controls us in many different ways but we also have a country that we feel entitles us to be controlled. Many of us must learn the language of the other cultures but have yet to learn ours. As a country, we also have sports that are named differently from other countries. For example in Australia and South Africa they call soccer, “football”.

Franchises can ensure their products are appropriate for international markets by doing the appropriate research. Our language is different than other countries in many cases. Franchises...