This past month, I had the great opportunity to travel to England, where I taught a seminar session on International Business in a Dynamic Environment in Canterbury. Over the course of four weeks we discussed the many different aspects of International Business with students, and the discussion proved to be both deep and mind opening.
In business, trade is a big word. Not in the sense of how you spell it, but rather how we use it, as there are many compartments to trading with different countries. From exports, to labor, to production and prices, trade isn’t just the exchanging of goods. Lets break it down and use the example of clothing.
When it comes to business, there is more than one important facet to creating a successful and productive company. Most importantly, is the part culture plays. Think about it. Culture, defined, is an integrated system of learned behavior patterns that are characteristic of the members of any given society, and culture is thus shared through various groups of shared interests. Essentially, it’s the things people share together; language, social cues, behaviors, religions, and even various attitudes and manners that are accepted. In order to produce a successful business globally, you must learn these special aspects of culture, otherwise, you risk not only embarrassing yourself, but loosing an important deal.
In 2016, America shipped over $1.45 trillion dollars worth of goods around the world, solidifying the country as one of the top exporters. But why is exporting so important, not just for the economy, but overall, on a global scale?
Usually, when you think of exporting you think of sending physical goods to other countries; things like automobiles, oil, or even clothing. But what perhaps is the most important export of all is the exporting of ideas and culture! These are the primary ways in which new ideas filter in and out of various societies, so that new innovations and inventions can be created. It is also a way for people to experience other cultures, like when we import in Indian spices like turmeric, saffron, and cumin, we are not only spicing up our foods to make them even more delicious, but we are taking part in a new culture as well.
The exporting of cultures can also be through things like television shows. Take the classic TV show, Friends. In its hay-day, it produced millions of viewers across the world, from the UK, to India, to even China. To this day, even after being off air for almost 12 years, the show continues to be highly popular, from the outfits on the show making a comeback as fashion in different countries, to the emulating of the typical “American lifestyle” portrayed by the show, by other cultures. Television shows like this allow for people in other countries to get a glimpse into the life of a person unlike them, which is the very point of globalization.
We have an exciting news to share with our readers! Professor Czinkota’s new book, “as I see it”, is now available on business express’s official website. This book presents “the best of 2016” about the core issues of international business, explained and analyzed within 750 words. Also, each analysis is accompanied by a cartoon, developed by Czinkota and award-winning cartoonist David Clark.