Strategy

CULTURAL ANALYSIS

It is mandatory for any organization that is conducting business outside of its home country to learn and understand the local culture of the country because culture affects business operations.

South Korea

South Korea has one of the most homogeneous populations in the world. South Korea value and respect their local and traditional culture. Factors to consider when conducting business in this country include: language, dress code, negotiation tactics and business cards.

Language: The English language is one of the biggest problems in conducting business in the country despite the fact that most South Koreans obtain their education in a foreign country including the U.S.

Dress Code: South Koreans are more formal in their social interactions and first impressions are important. It is very significant to observe a formal dress code in business. A cooperate dressing is recommended. Jewelry is unaccepted in the business environment. The only accepted Jewelry is your wedding ring and wrist watch. Women should dress conservatively and wear subdued colors.

Business Cards: Business cards are valued in South Korea with the exchange of cards being almost ceremonial. It is important to come with your business card when having a business meeting with Koreans. For example, your business card must be printed in English on the one side and in Korean on the other.

Negotiation: South Koreans are always impatient and make emotional and spontaneous decisions, which is why foreigners should take care when addressing South Korean counterparts. Signed agreements are not considered binding but a starting point for further negotiation. Business deals rely more on mutual confidence and trust than on the written word.

Japan

Meeting and Greeting: When conducting business in Japan, your professionalism will be assessed during the first meeting. The bow is an integral part of Japanese society and is used when meeting to show gratitude, to express sympathy or as an...