Economics & Global Bus. Apps Essay Example | Topics and Well Written Essays - 1000 words

Economics & Global Bus. Apps - Essay Examplemainland China on the other hand has a very hierarchical and formal complaisant structure which stretches to family, business and institutional life. For instance, discover for elders it is expected of children and the eldest family member bids the highest respect (Dipak 59). Collectivism vs. Individualism In china, individuals consider ideas in a bodied sense in that before making a decision, they frequently consider the effects of their actions on their friends, colleagues and neighbors. Usually, decisions are not made for individual gain just now for the greater good. In America, it is normal to make personal motives and goals a priority over the embodied ones. This attribute is frequently encouraged so as to aim drive and aspiration to attain personal and business success (Robert, Philip and Sarah 35). Business Relations Business relations are a reflection of the individual and collective nature of the two societies. The term guan xi is commonly used in China and refers to emphasis being placed on the significance of building social networks so as to carry out business (Dipak 71). This is mirrored in the significance of socializing with counterparts and getting to know them before signing a deal. As a result, ensuring a business deal in china is frequently a long procedure. In the US on the other hand, business is a more(prenominal) cut throat procedure that emphasizes more on efficiency and speed earlier than on building relationships. Morals and Values In America, individuals are sluttish about praising, playing up and reproofing about success openly with humility being considered a weakness by some. In the Chinese culture, respect and humility are very important. When talking about successes, it is expected of people to be modest and treat each other well, or not to talk about them at all (Robert, Philip and Sarah 39). Additionally, in America, there are grayer areas and the issue of morality is not se t in stone but a involvement of discussion. In china however there is a firm sense of right and wrong. Freedom of Expression The people of china are bound gravely by protocol and believe it is better to honor and respect the opinion of others even if you dont agree with them than to demand for other people to accede with your ideals. In American culture individuals are urged to argue on contentious issues regardless of whether they may lead to confrontation all (Robert, Philip and Sarah 42). U.S. business practices in China vs. USA The 4 Ps of marketing have both similarities and differences in China and USA. The Price of a product has a higher elasticity of demand in China than in USA. While moving to China, it is important to ensure that a company establishes competitive and stable termss if a product is to fence with the existing products. Price changes have a higher effect on sales in China than in USA due to lower acquire power of the Chinese in comparison with Americans. Chinese buyers feel more exploited by western companies than by local ones thus making price elasticity for foreign companies in China higher than that of local companies. While considering the product, it is also important to build a strong brand in collection to penetrate the Chinese market which is characterised by many popular brands. Use of Chinese name for a brand would be a plus rather than maintain the name the product uses in USA. Product quality is not as important as it is in USA.