Doing Business in Czech Republic: Differences in Cultural Values and Social or Religious Beliefs
Doing business in a foreign country is never easy. It is not so much about the tax regulations, import/export duties or getting a license. The main challenges accrue from the differences in cultural values and social or religious beliefs. For Steve, it may prove easier to at least communicate with the people and establish a bond with them. It is also important to know that Czech Republic is very keen on attracting foreign investment and a strong US presence is desired. For this reason, Steve doesn't need to worry about whether he will be welcome in that country or not. As for cultural differences, it must be borne in mind that both Czech Republic and the US have some similarities and some differences but these differences can act as a major hurdle if not properly understood. Business is often taken seriously in the Czech Republic and authority is not to be challenged. The same is not true for the US where anyone can question and challenge authority if it appears oppressive. Rebellion has a place in US business culture and innovation is considered a good strategy. Czech people are not exactly big risk-takers and might be more interested in the true and tried. Greet Hofstede's four important dimensions might help us better under
Steve will need to learn that there exist significant differences in terms of cultural notions and traditions. Czech people are more interested in following in the footsteps of their forefathers and trying something new doesn't come naturally to them as it does to Americans. They also do not value individualism the same way Americans do and for this reason, Steve must have a sound plan to lure Czech people out of their molds and into the new unknown world. On the Individualism (IDV) scale, Czech Republic falls close to 60 whereas United States almost enjoys perfect individualism with ratings falling very close to 100. Here we see the difference which must be considered carefully because while Czech people would value individualism, they still respect collective achievement. This is however not the case with Americans who believe in individual success. Steve therefore needs to pay close attention to this and make sure that his business plan is based on a win-win strategy and that Czech people can see just how they can benefit from his presence and investment. Fast Food is not unheard of in the Czech Republic though they still prefer the traditional meals. For this reason, Steve must target the younger generation that has greater exposure to the western world through media and that is more likely to love American products than older generat
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Approximate Word count = 911
Approximate Pages = 4 (250 words per page double spaced)
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