Transcript Global Business Markets and Negotiations

Global Business Markets and
Negotiations
China, Hong Kong, South Korea,
India
Market Penetration
 Market penetration can be based on the turning point of successful
communication of company name’s and slogans
 Knowledge of language translations are critical to avoiding embarrassing
business blunders
 Cultural dialects within languages along with slang terms are important
distinctions when determining proper translations
 Examples of business blunders
– Pepsi's "Come Alive With the Pepsi Generation" translated into "Pepsi Brings Your
Ancestors Back From the Grave" in Chinese.
– The Coca-Cola name in China was first read as "Kekoukela", meaning "Bite the
wax tadpole" or "female horse stuffed with wax", depending on the dialect. Coke
then researched 40,000 characters to find a phonetic equivalent "kokou kole",
translating into "happiness in the mouth."
China
 Board Room
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Hand shaking is an acceptable greeting,
though nodding or bowing slightly will
suffice
Sucking air in through lips or teeth a
sign of dismay or surprise
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Avoid forcing your host to say “no” this
is seen as embarrassing
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Silence is respected, used for
contemplation, but do not interrupt a
conversation
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Seating in the negotiation has guest at
head of table facing the door, host at the
other end with back to the door
 Social Practices
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Keep emotions to themselves, may not
smile also avoid prolonged body contact
Seating arrangements for dinner the
guest is commonly seated to the left of
the host
Applauding is very popular in China as
a form of greeting, be respectful and
return the applause
It is customary to refuse gifts, until
insistence on givers part
Hong Kong
 Board Room
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Customs vary from that of China,
having their roots in the British
influence.
Handshakes are the custom for
greetings
During talks, avoid blinking
conspicuously, this is a sign of boredom
or disrespect
Tea is very important to a negotiation,
the host should always drink first,
untouched tea could signal that the
meeting is over
 Social Practices
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Beckoning to someone, extend arm
fully with palm down and make a
scratching motion with all fingers
Never use palm up with index finger
wagging, this is a sign for animals
Wave your arm in the air in a writing
motion when wishing to signal for a
check to a waiter
South Korea
 Board Room
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During introductions most senior offers
to shake hands first, most junior bows
first
Men take priority to women, allow
males to pass through doors before
women, walk ahead and a woman may
be expected to help a man put on his
coat
Entering the board room wait to be
shown to your seat, guests of honor
should give some protest before moving
to their seat, as a sign of humility
 Social Practices
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If visiting private homes remove your
shoes before entering, sign of respect
If receiving a gift, never open before the
host, wait instead till in private to open
gifts
India
 Board Room
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Western women should not initiate
handshakes, foreign men should not
expect to shake hands with an Indian
woman
A proper greeting is to fold hands,
palms flat together with fingers pointing
straight up while simultaneously using
the Indian greeting “Namaste”
Avoid expressions of anger, worst way
to achieve anything in India
To express honesty or remorse while
speaking, gently tug your earlobe
Use the right hand when giving or
offering to someone
 Social Practices
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When traversing the streets avoid
staring at the impoverished, to stare is
humiliating them
Remove footwear before entering any
religious building, also avoid shaking
hands of merchants near these buildings
as they will attempt to place bracelets
on your wrist and demand donations
Avoid pointing with index finger, this is
done only to inferiors, use the whole
hand or chin to point
Apologize for any contact of your lower
extremity with theirs, sorry will suffice,
however if done to you expect apology
to come as fingertips on the shoulder
and then fingertips on their forehead
Final Words of Advise
 Each country has a personal space, such a space is hard to measure as
it may vary from person to person, it is advisable to follow your hosts
lead.
 Slang can be detrimental not only to slogans but also business talks,
negotiators should gather research on what slang is common prior to
their meeting
 Knowing these pitfalls can give an advantage to creating a successful
negotiation with a mutually acceptable agreement by reading
customary body language.
 Be natural in personality and actions, these specific customs and styles
will most likely not offend but demonstrate the level of respect as a
guest one has for their host