International OB Managing Across Cultures Essay

International OB Managing Across Cultures - Essay Example A Japanese businessman will always consult within his group before making a decision. Because of their intense loyalty, one's identity is subsumed into the group. It is important to never single out a Japanese counterpart, even for praise or encouragement. Contrarily, the Spaniards have a hierarchy style of management and it is best to deal with "el jefe" or "el pardon"-the one who will be making the decision. Spaniards also will expect whomever they are dealing with to have decisions-making authority. When dealing with Spain or most Asian cultures, it is also critical to understand the concept of "saving face". Any loss of control of emotions or embarrassment is considered disastrous in business negotiations in these cultures. Honor and personal pride mean everything and they must not be insulted. Because of this attitude it is very important to carefully prepare presentations so that they are easy for the audience to understand. Paying close attention to determine if anything is misunderstood during the presentation is also a must. Because of this concept of "saving face" the presenter will not know if they are having difficulties. Close attention must be paid to conversations in order to discern the sincerity of what is being said. In Japan, a deal is never refused directly, and any dealings with Japanese business culture should remain indirect. In Business Cards In nearly all countries, it is important that business cards be printed one side in English, and the other in their language. When presenting the card, it should be presented with their language facing the recipient. In Japan, the exchange of business cards is not to be taken lightly. When you receive the card of a Japanese businessman, be sure to make a show of examining it carefully and then making a remark about the card. Ask any questions about anything on the card which is difficult to pronounce or understand. The card should then be placed in a case or on a near by table. A card shouldn't be shoved into a pocket or be written on. Concepts of Time Time orientation is an important cultural difference that Americans must pay close attention to. In America, time is viewed as a precious commodity. Time is related with productivity, efficiency, and money. Many other countries have a much more relaxed perception of time. They take their time, and enjoy it. In Mexico you can ask if a scheduled appointment is "en punto" (the precise time), or "mas o menos". "Mas o menos" appointments are often scheduled a half an hour to an hour before the actual time. With both Mexican and Japanese cultures it is also important not to expect instant results. Plenty of time should be allowed for contemplation and decision making. In Mexico it is important to adjust any expectations regarding deadlines and efficiency. Doing business over borders and through time zones has become commonplace in the twenty-first century. Technological advancements in communication and travel make it possible to do business across the globe almost instantaneously. Doing business with multiple cultures can be a challenging venture. International communication skills of an organization can determine success or failure. In order to interact with different cultures, it is necessary to understand the basic characteristics of the culture. This type of understanding helps to make

Management accounting Essay Example | Topics and Well Written Essays - 1000 words - 2

Management accounting - Essay Example It may be noted that the financial tool of ratio analysis has been used to make comments and comparisons between the two companies over their financial position and performance. During 2007 Intercontinental has not effectively improved upon its profitability performances in 2006. In fact it has maintained more or less the same level of profitability as was in 2006.The increases in profitability ratios in net profit and return on equity are deceptive. ROE has increased manifolds because capital employed has been reduced tremendously from $686m to mere $49m. Otherwise gross profit ratio that shows the real operative efficiency of the entity has dwindled and remained at almost the same level. Increase in return on capital employed is marginal. The overall efficiency on operational profitability has not improved. The profitability performance of Peel Hotels in 2007 has also gone down when compared with 2006. Gross profits and ROCE that show operational efficiency has shown declined performances. On the hand ROE, return on assets, net profit ratios that are affected by factors other than operation performances have shown increased performances. The result is that company has not improved upon its real profitability but shown efficiency only to attract investors and other interested users of financial statements. Both companies are facing liquidity crunch as reflected from their current and quick ratios. Both ratios are lower than the standards required to maintain optimum level of liquidity. The liquidity status is critical in both the years for each of the companies. The companies have to take some extraordinary steps to improve liquidity; otherwise both companies are facing the danger of short term insolvency. Intercontinental has low inventory turnover but it at least has maintained the same performance in 2007 as was in 2006. The company has shown improvement in collection of debtors but