Cross-cultural communication and negotiation, strategy formulation and Essay

Cross-cultural communication and negotiation, strategy formulation and implementation - Essay Example There are communities that do not take lightly things such as bribes and payments that are questionable. On the other hand, others take this as a good gesture and it is their culture to give bribes or some sort of payments whenever a negotiation is going on. Gifts or monetary payments while negotiating in international business are required in gaining a positive action from officials in different governments. Yet this same move might cost one if applied in communities that do not take it lightly and consider it unacceptable. For instance, FCPA does prohibit a company that is US-based from giving any offering in form of money or in kind to a government official in a foreign country so as to get favors or win contracts. The other issue is how people in different cultures view joint ventures and strategic alliances. Some of the partners to an alliance may have a short term view of doing business for quick gains and benefits to the business. Such a strategy would require that only short- lived agreements are reached. On the other hand, there are people who believe in long-term development of business that has prospects for satisfactory profits in business. The joint venture negotiations end up failing if the two parties have differing views on the life of the business strategy (Sheppard 1-7). Formulation of a consistent and working strategy when facing a negotiation across culture could be quite tasking to a management team. Its implementation is also no easier. Many factors relating to inter-cultural issues do affect the success or failure of a negotiation strategy employed. If not successfully implemented, formulated strategies may fail. Their implementation therefore depends on how effective one applies his or her knowledge of cross-cutting factors among different cultural groups involved in the process. Institutional based relationships are also important when it comes to strategy formulation and implementation. These relate to relationships

International Financial Management Essay Example | Topics and Well Written Essays - 2500 words - 3

International Financial Management - Essay Example Thirdly, firms aim at broadening their market. Fourthly, companies aim at increasing their returns. In terms of career, International financial management is focused to the students who aim at being involved in investment across the border where they will be involved in making financing decision while working managers, investors or consultants. Four key areas that are covered by International financial management include currencies, multinational financial decision making, institution and finance and cross border valuation. This paper seeks to discuss various issues that came about during the half yearly meeting of International Investments plc from various stakeholders. Being the world’s primary reserve, the dollar is a key aspect that helps US government to keep interest at low level. On their part, foreign countries buy the US treasury debt for two main reasons. First, it is an investment that the countries can use to improve their monetary policies. Secondly, dollar-denominated assets as compared to other currencies are the best way to hold foreign exchange reserves (Brealey and Myers, 1991). As indicated by Catherine Mann, long-term global economic health demands that United States and the trading partners to collect internal imbalances as well as external balances. In order to ensure that the future position of the dollar remains strong there is need for co-dependency between US and the trading partners (Grimwade, 2000). In the case of depreciation of a dollar, there will be an economic problem that will involve global re-balancing. Global re-balancing refers to complementary narrowing of two imbalances across the globe. These include e xpansive dependence of other countries on the net exports of the US as well as the increasing US current account deficit. One of the key roles of global co-dependency is that it prevents the dollar from depreciation while at the same time keeping the current configuration of the world imbalances at the best position