Cultural awareness, a form of risk management in international business - Case study of China

Simple item page
dc.contributor.authorFadun, O. S.
dc.date.accessioned2024-05-03T15:12:04Z
dc.date.available2024-05-03T15:12:04Z
dc.date.issued2014
dc.descriptionScholarly article
dc.description.abstractMutual awareness of cultural references is essential in international business as levels of formality vary greatly among cultures. The emergence of capitalism into China induces international firms’ investment in the country. This resulted to creation of a production base to explore the inexpensive factors of production, particularly low-cost labour. The study examines cultural awareness as a form of risk management in international business, using China as a case study. The study uses ‘XYZ International’, with western cultural background, as a hypothetical international business that operates in China market. The study explores international trade and global organisations; considers barriers to international business; outlines cultural awareness as a form of risk management in international business; highlights Chinese business culture; outlines the impact of culture on negotiation; appraises Chinese businessman culture and its impact in the Chinese market; and justifies reasons to support conducting trade with China. The study findings indicate that mutual awareness of cultural references is essential in international business, and levels of formality vary greatly among cultures. The implication for practice is that culture induces each country societal prevailing life-styles because culture and life-style influence patterns of consumption, manufacturing, agriculture, service, distribution and investment.
dc.identifier.citationFadun, O. S. (2014). Cultural awareness, a form of risk management in international business: Case study of China. Business and Economic Research, 4(1), 266-288.
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/12846
dc.language.isoen
dc.relation.ispartofseriesBusiness and Economic Research,; 4(1)
dc.titleCultural awareness, a form of risk management in international business - Case study of China
dc.typeArticle
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Cultural Awareness a Form of Risk Mgt in Intl Business.pdf
Size:
938.22 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Actuarial Science and Insurance -Scholarly Publications