Comparing Business and Econimic Opportunities in India and China Essay

From my perspective, the main factor contributes to the difference in FDI and economic growth in China and India are institutions. There are two kinds of institutions; one is formal institution, including political system, legal system and economic system, another one is informal institution, which consists of culture, business norms and ethics. As for political system in India, which labeled as â€Å"sovereign, socialist, secular, democratic republic.† It is similar to America, it has the federal form of government, its central government is patterned after the British parliamentary system, and several Parties are able to take control of the nation, but the main power to control the country is the central government. Compare with Chinese communist totalitarianism, India is more democratic in terms of the political system. In other, words, it is more easier to set up your own business in India and which may absorb more capital thanks to the democratic political system in India. According to the corruption perceptions index 2012, India got the score of 36, and China got the score of 39, the lower score means the country is highly corrupt in the public sector. Therefore, China is more attractive to foreign investors in terms of the corruption level. As for political risk, thanks to corruption and the departure of several key allies for India, the government has been weakened in India, which make India less attractive for foreign investment to compare with China. As for protecting intellectual property right, the provisions of intellectual property right in India is more comprehensive than Chinese, which ensures foreign companies get an easier access to take control of intellectual property in India. According to the data from Global EDGE, Chinese government provides more protections on labors to compare with India. Which is a good sign for encouraging FDI in China. According to Ease of Paying Taxes Index on Global EDGE website, which ranks the country based on their total tax rate as well as measuring the administrative burden of paying taxes. India ranked 152 and China ranked 122; this indicates that compare with doing business in India, foreign companies may not have much pressure of paying tax for the government in China, which is positive sign for foreign companies to expanded to Chinese to get rid of the high tax rate. As for economic system, both of China and India used to be in the  command economy, but they have reformed their economy system to mixed economy in 1978 and 1991 respectively. From my perspective, the early reform of Chinese economy provides a rapid development of the economy in China, which contributes to the higher GDP compare with India now. The economic growth of India is constrained by the inadequate infrastructure, which may creates obstacles for foreign investment. As for cultures, business norm and ethic, India got a huge number of well-educated people skilled in English skill, which is easier for foreign investors to overcome the languages barriers to compare with China. The religion is a factor which foreign investor has to take into account when they want to enter India. Thanks to different religion groups in India, the core value and the norms are widely differ from different religions, which take time to understand those value and norms when doing business among Indians. According to data from The Hofstede Center, China and India almost had the same score in power distance, collectivist culture, masculinity and uncertainty avoidance, but China is more long-term oriented, the investment is tend to be more long-term projects for instance, the real estate. From my perspective, choosing India to invest is a wise decision, the main reason I recommend the India for foreign investment is that companies may not face as much as competition in India compare with China. There are a huge number of multinational firms in China; it is more difficult to be successful due to the fierce competition in China. As for India, where had a more comprehensive legal system, which can reduce the cost of doing business and improve the security of foreign investment. The democratic society may offer more opportunities for foreign investors as well. The India cannot surpass China within a short period of time because of the inadequate infrastructures; the inadequate infrastructures is the key factor which constraints the economic growth in India. It is capital and time-consuming to build infrastructures within a short period of time.

A Loss for Words - Paper - 1354 Words

Niki Brown Randi Nedom ASL 1 11/21/11 Loss for Words Paper The book A Loss for Words by Lou Ann Walker is a biography about Lou Ann. Her parents are deaf and she and her sister are hearing. The book describes the troubles and embarrassment she felt and had while growing up. She loved her parents dearly but often felt embarrassed, or infuriated about comments people would make to her about her parents. Lou Ann exclaims that â€Å"their world is deaf, their deaf culture, their deaf friends, and their own sign language it is something separate, something I can never really know, but I am intimate with.†(2) Lou Ann was both speaking and she could also sign. She felt it hard to fit into one culture. She had a love for her parents and the†¦show more content†¦She herself even though she was not ashamed acted ashamed by not saying anything about what people said. I know she was trying to protect her parents. I think it would have been better if she did say something to those people, not only letting her parent s know but also showing them that she didn’t care what anyone said. It would have shown people that she didn’t care that her parents were deaf. I think her parents would have been proud of her for sticking up for their family. Her parents didn’t seem the least bit shy about being deaf. They seemed really love their culture and wouldn’t change it for anything. Lou Ann’s parents also seemed to depend on her a lot. They depended on her to help them when they didn’t understand. Since a lot of people don’t know ASL she was there to help. I think her parents depending on her all the time also had a toll on Lou Ann. She knew she always had to be there to help them with simple things. I think part of her did not want to have the responsibility. I think she just wanted to be a kid most of the time but felt obligated to help her parents, since she had something they didn’t have. Lou Ann states â€Å"from a very early age I ordered for M om and Dad in restaurants and explained what they wanted to clerks. When I was about eight they began giving me their letters so that I could correct the grammar.† (21) She lied helping her parents out with the day to day task they could not do,Show MoreRelatedLoss: A Stage of Writing a Research Paper1503 Words   |  7 PagesLoss has everything to do with writing a research paper. It starts with a loss of words when nobody knows what word to pick. Then there is a loss of money because you’ve had to fuel your car up to go to the Auburn Library and make tons of copies of your research. By the time the thesis is due, a loss of words comes back with a disappearing reason why the word is important. With the etymology most students are completely lost because, despite being given a crash course on how to read the Oxford EnglishRead MoreStages of Grief Paper1074 Words   |  5 Pagesï » ¿Ã‚  Stages of Grief Paper Write a 750-1,000 word paper analyzing Woterstorff’s reflctions in  Lament For a Son. In addition, address Kubler-Ross’ five stages of grief, as they are expressed throughout  Lament for a Son, and respond to the following questions: 1. How does Wolterstorff find joy after his loss? 2. What is the meaning and significance of death in light of the Christian narrative? 3. How does the hope of the resurrection play a role in comforting Wolterstorff? Include three sources includingRead MoreAnimal Farm Essays1030 Words   |  5 PagesChoose one leader and one follower from the novel and explain how the behavior of each contributes to the loss of freedom and equality on Animal Farm. PREWRITING Step 1 List the various leaders of Animal Farm. 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How Social Media Has Improved the Field of Journalism - Free Essay Example

Sample details Pages: 2 Words: 500 Downloads: 10 Date added: 2019/04/10 Category Society Essay Level High school Tags: Social Media Essay Did you like this example? Since leaving Chapman University I have held three different positions in the field of Journalism. I have worked as a Production Assistant for Dateline News, I have worked as a writer for the local CBS News Station in Los Angeles, and currently I am working as a Broadcast Associate for 48 Hours. Though the job requirements for each of these positions and broadcast vary one the common thread they all share is the dominance of social media the field of journalism. Journalists utilizing social media can now publish the news faster than ever before. Not only is the news published at a lightning fast pace but in the digital age from the palm of their hand anyone with a smart phone can post the news. This immediate journalism is not just an expectation it is now a requirement. News subscribers dont have to wait for the morning paper or evening news to receive information. Anytime of day, from anywhere in the world journalists can post live coverage and updates for their followers as current event unfold. The downside of this immediacy is the pressure to push out stories has led to less accuracy. Journalist are competing to report first on a story leading to an insurgence of careless reporting, as quick reporting quickly does not necessarily correlate with accurate reporting. Don’t waste time! Our writers will create an original "How Social Media Has Improved the Field of Journalism" essay for you Create order Social media has given journalists the chance to build not only a public profile but a brand. While this used to be extremely difficult, utilizing Instagram, Twitter and Facebook allows journalists to weigh in on topics as they unfold and not only report on what is happening but be part of the larger conversation. Social media is a tool a journalist can use to reach viewers outside of their industry and across the world. With a social media profile viewers can to put a face to a name. The audience may subscribe to a publication or watch a specific broadcast because they enjoy certain journalists on a personal level. A goal of journalists in the digital age is to build a brand through their work and social following that will grow as they move through their career. The downside of a public persona on social media is the backlash. Social media makes it easier for members of the public to respond to journalists they do not like or agree with. Journalism has always been reliant upon advertising since its inception, in the digital age this translates to clicks. Whilst publications used to pay for advertising, social media is now a free tool for publications and individual journalists looking to boost content distribution. As the most popular social network, Facebook is a powerful way for publishers to reach larger audiences. Journalists recognize the distribution power of Facebook and are thus changing the way they create content. Social media has allowed digital companies like Buzzfeed grow. The company who rose to prominence utilizing Facebook now operated on a mixed model. One part of the company focuses on viral content to subsidize investigative reporting.

Comparison of Camus and Dostoevsky Essays - 1467 Words

Raskolnikov-A â€Å"Stranger† to Mersault? Though written by completely different authors in completely different times and places, the works The Stranger and Crime and Punishment show many similarities in the actions and views of the protagonists. Raskolnikov and Meursault show similarities through their existentialist views of life, actions towards others, and wanting of escape from the real world or conscience world. These character similarities suggest similarities in the views of the two authors Fyodor Dostoevsky and Albert Camus. The two authors are trying to convey slightly different, yet almost identical existentialist views to the reader. These views can be seen very much in the characters of Meursault and Risk. Both†¦show more content†¦Then to the reader’s surprise, Meursault goes swimming with a girl the day he gets back as if nothing had happened. While most would be in mourning, Meursault is already looking to forget this burden on his plans by totally disregarding it and completely moving o n with no remorse or regret. Meursault is also very carefree when talking to the people who are deciding the fate of his life. The statements â€Å"I thought my case was pretty simple.† (Camus, 63) and â€Å"I said no-and that in a way, I was even interested in seeing the trial† (Camus, 83) show that Meursault talks to the police as if it were a normal thing to him. He doesn’t care that these are the people that are putting him in jail for the rest of his life. To him, jail is freedom and freedom is jail. Both Raskolnikov and Meursault share the feeling that time and freedom are the only things that can burden them. They are both faced with the option of suicide as a substitute for incarceration, but neither of them accepts this fate. This is because they are really just as happy in jail than they were in the outside world. They don’t choose suicide. This is not because they are afraid of death, but because they are only certain of the uncertainty beyond it. This again reinforces their existentialist views. Raskolnikov and Meursault both have similar actions towards others. Raskolnikov is at times annoyed with everyone, from his closest friend RazumihinShow MoreRelatedEssay on myth of sisyphus975 Words   |  4 Pagesï » ¿How was the text borrowed from other texts, and with what effects? how has he borrowed from other texts and to what effects? Introduction: Thesis: Camus has borrowed philosophical ideas from other writers which has influenced his interpretation for the existence of an individual mostly described within his works with The Myth of Sisyphus as well as his other well known novels. Prominent in Europe in the 19th and 20th century Existentialism is defined by the slogan Existence precedesRead MoreCrime and Punishment vs. The Stranger1438 Words   |  6 PagesThroughout the novels Crime and Punishment by Fyodor Dostoevsky and The Stranger by Albert Camus, sun, heat, and light play a significant role in the development and understanding of the novel and the characters in it. Upon the initial reading of The Stranger, the reader may have a general acknowledgment of a relationship between the novel’s protagonist, Mersault, and the sun and heat, either proceeding or following one of the novels significant events. What is harder to understand on the first readRead More Hopeless and Absurd - Existentialism and Buddhism Essay1536 Words   |  7 PagesBuddhism in a manner helpful to the understanding of existentialist viewpoints on the same. Though these two perspectives elicit no fewer contrasts than comparisons, their juxtaposition highlights the workings of the futile human quest for meaning.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  One key factor in the existentialist framework is the acceptance of hopelessness. As Camus presents metaphorically in The Myth of Sisyphus, there simply is no real goal towards which we strive. Though humanity is characterized by consciousnessRead MoreExistentialism vs Essentialism23287 Words   |  94 Pagesamp; Phenomenology * Existentialist Philosophers * ------------------------------------------------- Absurdism * The idea of the  absurd  is a common theme in many existentialist works, particularly in  Camus. Absurdity is the notion of contrast between two things. As Camus explains it in  The Myth of Sisyphus: * The absurd is born out of this confrontation between the human need and the unreasonable silence of the world. * This view, which is shared by  Sartre, is that humanity

Cost of Capital free essay sample

The Wind Rider Company has just issued a dividend of $2. 10 per share on its common stock. The company is expected to maintain a constant 7% growth rate on its dividends indefinitely. If the stock sells for $40 a share, what is the company’s cost of equity? 2. ) The Ball Corporation’s common stock has a beta of 1. 15. If the risk free rate is 5% and the expected return on the market is 12%, what is Ball Corp. ’s cost of equity capital? 3. Stock in Parrothead Industries has a beta of 1. 10. The market risk premium is 8% and T-bills are currently yielding 5. 50%. Parrothead’s most recent dividend was $2. 20 per share and dividends are expected to grow at a 5% annual rate indefinitely. If the stock sells for $32 per share, what is the best estimate of Parrothead’s cost of equity? 4. ) Holdup Bank has an issue of preferred stock with a $5 stated dividend that just sold for per share. We will write a custom essay sample on Cost of Capital or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page What is the bank’s cost of preferred stock? 5. ) Legend, Inc. , is trying to determine its cost of debt. The firm has a debt issue outstanding with 12 years to maturity that is quoted at 107% of face value. The issue makes semiannual payments and has an embedded cost of 10% annually. What is Legend’s pretax cost of debt? If the tax rate is 35%, what is the after tax cost of debt? 6. ) Jiminy’s Cricket Farm issued a 30-year, 9% semi-annual bond 8 years ago. The bond currently sells for 105% of its face value. The company’s tax rate is 35%. a. ) What is the pretax cost of debt? b. ) What is the after tax cost of debt? 7. Mullineaux Corporation has a target capital structure of 50% common stock, 5% preferred stock, and 45% debt. Its cost of equity is 18%, the cost of preferred stock is 6. 50%, and the pre-tax cost of debt is 8%. The relevant tax rate is 35%. a. ) What is Mullineaux’s WACC? b. ) The company president has approached you about Mullineaux’s capital structure. He wants to know why the company doesn’t use more preferred stock financing s ince it costs less than debt. What would you tell the president? 8 Modigliani Manufacturing has a target debt-equity ratio of . 5. Its cost of equity is 18% and its pre-tax cost of debt is 10%. If the tax rate is 35%, what is Modigliani’s WACC? 9. ) Fama’s Llamas has a weighted average cost of capital of 12. 50%. The company’s cost of equity is 15% and its cost of debt is 8%. The tax rate is 35%. What is Fama’s target debt-equity ratio? 10. ) Sniffles, Inc. has a target debt-equity ratio of . 90. Its WACC is 13% and the tax rate is 35%. a. ) If Sniffles’ cost of equity is 18%, what is its pretax cost of debt? b. ) If instead you know that the after tax cost of debt is 7. 0%, what is the cost of equity? 11. ) Given the following information for Dunhill Power Co. , find the WACC. Assume the company’s tax rate is 35%. a. ) Debt: 3,000, 8% coupon bonds outstanding, $1000 par value, 20 years to maturity, selling for 103% of par. The bonds make semiannual payments. b. ) Common Stock: 90,000 shares outstanding, sel ling for $45 per share; the beta is 1. 20. c. ) Preferred stock: 13,000 shares of 7% preferred stock outstanding, currently selling for $108 per share. d. ) Market: 8% market risk premium and 6% risk-free rate

Performance Management Execution Assessment

Question: Discuss about thePerformance Managementfor Execution Assessment. Answer: The process of performance management happens to be continuous and flexible and the various components which are an integral part of performance management system in any setting include planning, execution assessment, overall review, renewal as well as reconstructing as one of the important prerequisites. Performance management is an important tool for the managers in order to ensure that the organization expands and succeeds in all the endeavors it takes. There are numerous tools and techniques through which performance of employees should be measured. (Mone, Eisinger and Guggenheim, 2011). The various methods of performance management and appraisal decide the amount of reward and recognition the employee will receive from the organization where he/she works. The rewards could be financial or non- financial, but irrespective of its type, it motivates and inspires the employees to try harder and achieve better results not only for him but also for the organization as whole. (Ates, Garengo, Cocca and Bitici, 2013).The ways of measurement are different for different organizations, but it is important to ensure that appropriate yardsticks and performance management tools are being used for performance measurement. If we refer to the case study of the library system in University of Ghana, there are many shortcomings with respect to proper evaluation of the components of performance management and its effective implementation. Out of the different components identified, according to me, the major shortcoming is regarding the behavioral attribute. One of the important aspects while doing performance management and appraisal is to make sure that the parameters kept for measuring any attribute should be measurable in nature. (Van Dooren, Bouckaert and Halligan, 2015). Here, the job description is not clear and the performance management is to be done on general behaviour. Various vague rating systems are prevalent at the Balme Library and the different employees belonging to different job descriptions and hierarchical level are all rated using the same ratings irrespective of any consideration. The choice of general behaviour as a measurable component without really clarifying the true meaning of general behaviour is definitely going to yield poor results. Whenever ratings are being done, it should be performed without slightest of ambiguity. There should not be any relative confusion with meaning or misconception in the meaning of any word or term. ( Walker, Damanpour and Devece, 2010).Just as every individual has specific fit and not every size fits everyone, it is definitely not a good idea to use a single form of rating for every employee as something suitable for one employee might not work for others. How to measure, or what are the characteristics to be looked for, who will do the appraisal regarding good behaviour is not mentioned. Another important aspect which has been left out is the criteria for deciding and discriminating between, good, bad and average behaviour and the attributes which should be indexed under general behaviour. In the absence of the same, it is extremely difficult to rate or provide appraisal for any person. The misalignment of components can have serious effects on the overall performance management system. In the present scenario, as the general behaviour as a yardstick is very ill defined with vague rating scales which do not have anything substantial, the morale, zeal and enthusiasm of the employees suffer to a significant extent thereby reducing the productivity. (Biron, Farndale and Pause, 2011).As the employees get an average score on their respective performances irrespective of their job role or description, there is no incentive to boost their morale and inspire them. The healthy competition and working in a time centric working environment cease to exist as employees just keep them occupied and do not really work hard to perform better. They dont have anything to look forward to, which will enhance their zeal to do a particular job in a way that it strengthens the organizational work ethics. In the absence of a proper performance management plan, the whole organization suffers as none of the employees are keen to improvise or work in an incentive based environment. They are fully aware that the rating of general behavior will always have some average values irrespective of how good or badly they behave, as this attribute completely lacks measurable yardsticks. So, in the long run the performance of the organization declines significantly and it might be difficult to sustain.(Pollitt, 2013) Discussions regarding what should be done in the organization for growth, what is expected out of him in terms of his attitudes, reactions and behaviour in the organization is very essential. As discussed above, if the general behaviour is not defined for a proper understanding, not only does it lead to the lack of zeal of the people but also results in the employees becoming complacent and laidback in the behavioural approach they have towards the organization. The organization would not be in a position to challenge them , if they behaved in an immoral way as they can very well claim it to be just according to their point of view and circumstances. Here the organization would not even be in the position to fall back on a general behaviour list that they unfortunately never made. It is seen that a lot of unwanted situations are to arise if the general behavior is not specified in an organization. (Fee, 2014). A major factor that plays a very important role in the motivation of the people working in an organization is proper communication; the communication is not only horizontal in nature i.e. with other colleagues but also vertical in nature thereby leading to the development of a fluid communication system between the line managers and the subordinates. Communication will help the managers in the Balme library to understand the employees better and help them to develop a cordial relation with them. Firstly, in order to improve the productivity of the individuals, the managers need to create a check list of good behavior. They need to specify a list of expectations that they have from the employees, specifying what the employees should do in the organization to fare well in the performance appraisal systems. (Gruman and Saks, 2011). Alongside the managers should also ensure that this is emphasized at and brought to everybodys notice. Having done this the organization can also publish the ratings, in terms of their behaviour, according to which the employees will be judged upon. If a list of dos and donts are created in the library, the employees will slowly start assessing their behaviour in terms of that list and will easily be able to judge themselves. Furthermore, in order to motivate the employees the managers should come up with some extra benefits that would be provided to them if they scored well in their general behaviour appraisal. For example. Those who did well could get a day off or some extra recreational time. (Bacal, 2011). On the other hand, those who could not score well could be asked to pay for everyones coffee or asked to leave last in the office. Such unconventional ideas could help in infusing a sense of healthy competition in the people to fare well in the appraisal. It is not only the employees that need to be motivated, but also the managers. The managers should be made aware about the importance of a good general behaviour form and its impact on the employees. In order to make it comprehensible the managers could be sent for a few training programs to increase their interest and enthusiasm. They should be taught the system of grading the categories of jobs depending on their responsibilities and specificities. The managers should be active in undertaking sudden rounds and scrutiny of the library as this would sharpen their ability of judgment. A good performance management is the key to motivated employees who convert the doable to deliverables leading in an organization. (Moynihan and Pandey, 2010).Thus the implementation of a good general behaviour form is necessary to build a healthy office environment and constantly motivate the employees towards the achievement of their set goals. References: Ates, A., Garengo, P., Cocca, P., Bititci, U. (2013). The development of SME managerial practice for effective performance management.Journal of Small Business and Enterprise Development,20(1), 28-54. Bacal, R. (2011).Performance Management 2/E. McGraw Hill Professional. Biron, M., Farndale, E., Paauwe, J. (2011). Performance management effectiveness: lessons from world-leading firms.The International Journal of Human Resource Management,22(06), 1294-1311. Fee, M. C. (2014). Human resources management. Gruman, J. A., Saks, A. M. (2011). Performance management and employee engagement.Human Resource Management Review,21(2), 123-136. Mone, E., Eisinger, C., Guggenheim, K., Price, B., Stine, C. (2011). Performance management at the wheel: Driving employee engagement in organizations.Journal of Business and Psychology,26(2), 205-212. Moynihan, D. P., Pandey, S. K. (2010). The big question for performance management: Why do managers use performance information?.Journal of public administration research and theory,20(4), 849-866. Pollitt, C. (2013). The logics of performance management.Evaluation,19(4), 346-363. Van Dooren, W., Bouckaert, G., Halligan, J. (2015).Performance management in the public sector. Routledge. Walker, R. M., Damanpour, F., Devece, C. A. (2010). Management innovation and organizational performance: The mediating effect of performance management.Journal of Public Administration Research and Theory, muq043.

Relation between business and culture free essay sample

To know before you go is an essential but often overlooked skill in the world of business. Competing in todays global economy means the successful business person must understand the relationship between culture and international business. Brush up on international etiquette, tips and customs. The advent and emerging popularity of the Internet changed the way we conduct business. It all but eliminated the geographic limitations of handling business affairs and negotiating trade. Now a corporation in Wyoming can conduct transactions with a company in Shanghai in real time. An automotive plant in Maine can order parts from Japan with the click of a mouse. Despite these advances, some things in the world of business have not changed. To be competitive in business and successful in professional dealings, companies have to understand how another countrys culture affects the way we do business with them. Brief definition of business: Business is an economic activity, which is related with continuous and regular production and distribution of goods and services for satisfying human wants. We will write a custom essay sample on Relation between business and culture or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page All of us need food, clothing and shelter. We also have many other household requirements to be satisfied in our daily lives. We met these requirements from the shopkeeper. The shopkeeper gets from wholesaler. The wholesaler gets from manufacturers. The shopkeeper, the wholesaler, the manufacturer are doing business and therefore they are called as Businessman. Brief defnition of culture: Culture describes the cumulative influences on a group of people or society–their collective knowledge, characteristics and learned behaviours. This knowledge is passed on from generation to generation and accounts for the different cultures that we can see around the world, for example Western culture, Eastern culture, Middle Eastern culture, African and Latin culture. Each of these cultures is defined by the values, traditions, social habits and behaviours, language, belief systems, concepts of the universe, dress, food, music and arts that they encompass. Culture determines what is acceptable or unacceptable, important or unimportant, right or wrong, workable or unworkable. It encompasses all learned and shared, explicit or tacit, assumptions, beliefs, knowledge, norms, and values, as well as attitudes, behavior, dress, and language. What is Business Culture? Companies that have to compete with others in the marketplace set themselves apart by their ability to interact on a personal level with their clients and vendors. Companies that conduct business internationally should take precautions not to offend their potential clients. They must understand that the slightest breach in etiquette can destroy years of positive relations. ex: It is John’s first trip overseas to meet a potential client in China for his company, ToysInc. Upon arrival he greets the first man he sees with a loud, boisterous hello and a firm hug. After being formally introduced, he calls his potential client by his first name, and shoves the business card he was given carelessly into his pocket. Later in the day he joins his new team for a business lunch where he arrives five minutes late. There John takes the initiative to begin eating, using a fork, and takes the last of the food on the table. During the meal he is loud, and makes an attempt to tell a joke when there is silence at the table. John’s outgoing, friendly personality makes him a great employee of Toys Inc. in the United States; however, his behavior with the Chinese clients could cost Toys Inc. their business. Communication and business practices vary greatly from country to country. It is important for business men and women to study the way business is conducted in other countries as there are very different norms for behavior across borders. This not only includes the way meetings and negotiations are run, but how greetings are done, whether gifts are appropriate, what types of verbal and non-verbal communication are used, as well as cultural attitudes. It is also imperative to learn how to behave in a social setting, because in many countries a personal relationship precedes that of a business relationship. Thomas Jaffee once said that first impressions- looking good and having a friendly greeting for someone- will go a long way. In business, this is much harder than it sounds because looking good and being friendly must be catered specifically to each culture. On a first encounter, eye contact, distance, introduction styles, dress, gifts, and language are all things that should be studied before a meeting takes place. In this research, two countries will be explored in details China and the United States of America. Appropriate Business Behavior in China Of these two countries, business culture in China is the most reserved, and is perhaps most unlike that of the United States. First and foremost, a contact should always be established before representatives of a business are sent to China. Trips to China are best if scheduled between the months of April to June, and September through October, when they will not conflict with any Chinese holidays (Morrison, Conaway, and Borden, 1994). On arrival, the business person should not touch people because touching makes the Chinese uncomfortable, especially if it is the first meeting. Inappropriate touching would include patting on the back or squeezing the arm. In China a light handshake is accepted, but the Chinese business associate should initiate the action. Bowing is common and is done with the palms together while facing each other. Holding eye contact is a sign of disrespect and should be done cautiously, especially in a social setting. When entering a room full of potential business partners, greeting the most senior person first is important, as is using appropriate titles. Sometimes the last name is said first in Chinese culture, and individuals will expect to be addressed formally until they say otherwise. Also, if greeted with applause, return the gesture. Chinese often show little to no emotion. Generally joking is not accepted because they may not interpret humor in the same way as others. Exchanging business cards is something of great importance in China. Business cards should be printed in both English and Chinese and in plain lettering. Cards should be accepted using both hands, read, and placed somewhere safe. It is inappropriate to write on another’s card in front of the person who gave it. Business dress in China is conservative and formal. Women should wear a high neckline, and should avoid high heels if they make them taller than their host. Gift giving should be done only after a relationship has developed, and should be modest . It is important to consider carefully what is given. Researching potential cultural superstitions and hidden meanings is a very good idea. For example, a clock, anything given in a group of four, and white flowers all symbolize death. If a gift seems appropriate for a particular business situation, a nice pen or cognac is a good choice. A gift received should not be opened immediately; it is polite to open it at a later time. Business Behavior in the United States In the United States, the first impression is key to a successful business relationship. Americans like direct eye contact and a firm handshake from a client or partner. They often perceive a weak handshake as a sign of weakness in all aspects of life. When being introduced, American business people typically give a full name but insist that they are called by their first name. citizens of the United States are the most casual in both addressing one another and in dress. When meeting in a purely social environment, the foreign business person should expect to come dressed casually, rather than in proper business attire . Americans tend to be very friendly and will go out of their way to say hello or wave from afar. Like the other cultures, business cards are given frequently but are not treated with the same amount of respect as other countries. They are usually presented after the first meeting with the other party rather than the beginning . In the United States, gift giving is not practiced very often and is discouraged by law, but it is still done in some settings. In two situations gifts are appropriate: if attending a function at the person’s home or after a deal is closed . The Impact of Cultural Differences Styles of communication, both verbal and nonverbal, are different in many cultures. Words and phrases can be interpreted differently, as can gestures. Something as simple as a nod can be interpreted in two completely different ways in two countries. Seating arrangements and the distance between two people are also something that varies form culture to culture. It is important to be sensitive to the place business is being conducted. Also important for the traveling business person, is to observe things like speaking volume, posture, touching, typical conversation, and how something is written. Business Negotiation and Acceptable Practices in China Negotiating business in China is very different from American practices. It is good practice to send the same representative to do business in China every time. This builds the strong, solid relationship that the Chinese prefer. While in a meeting, the Chinese will be very vague in their propositions so that those propositions may be adjusted in the future if needed. It would not be unusual to ask the same question in many different ways in order to test a potential partner for consistency, although this practice tries the patience of the other negotiating party . Losing face is an important issue in Chinese culture, so that confrontation and direct questioning should be avoided at all costs. It is considered rude to question authority, speak loudly, or to give a negative answer. In a negotiation only a leader should be singled out; it is important not to single out others. It is easy to spot the leader because he or she will be the only person speaking, and the one to make the final decisions. As the Chinese behave in a modest manner, a business partner, client, or employee should act accordingly. As an example, if one is selling something, it is preferable to solicit the opinions of others on the sale item, in addition to those of the seller. This will be appreciated much more . People of the Chinese culture are very reserved and hard working, and it is vital that visiting business people remain modest and polite while conducting business there. Business Practices in the United States When arriving for a scheduled meeting in the United States, the business person should be sure to be punctual or even a few minutes early. If a guest arrives late, Americans perceive them as being rude or highly disorganized. An action plan or agenda with a clear cut schedule is provided at almost all formal business meetings, and contracts are written out ahead of time. That way time is not wasted in the drafting of new contracts and previously contracts may be easily modified. In negotiating, American business people are more likely to be very open and direct, and normally do not enjoy haggling. The United States produces the fastest negotiators in the world. Although they are competitive, Americans value flexibility and spontaneity, and these characteristics play key roles when trying to close out a deal. Often Americans will accept subpar deals towards the end of a negotiation, due simply to an impatient desire to complete the transaction . Americans tend not to be comfortable with silence and will make every effort to maintain constant communication. Interruptions are not always welcomed either; in presentations all questions and comments should be held to the end of a gathering unless otherwise specified . In less formal business settings, Americans are more relaxed and place great emphasis on personal achievement. Fairness and the ability for a person to move up and down the business ladder are highly valued; however, businesses in the United States also value teamwork. Unlike many other countries, business in the United States is based on personal power rather than class, status or seniority. Hiring family or friends solely based on favoritism is completely unethical in the United States . Americans are not as reserved about their personal opinions and express themselves freely in the work environment, including giving input on important decisions. Managers tend to delegate many of their responsibilities, and it is not uncommon to see lower ranked employees questioning superiors. Decisions are made on all levels . Americans think big and are constantly planning for and anticipating the future. A job description is appreciated when interviewing because clear cut roles are preferred in a business environment. Once at a job, all employees are expected to be immediately loyal. Changing jobs is very common. A person does not usually stay at one job his or her entire career. Americans are risk takers; they are likely to take chances to achieve goals. In this environment, money equals power and status . Conclusion Every country has a different way of communicating and a unique way of doing business. Chinese tend to be reserved and patient and do not like to be pressured during negotiations and its relationships are developed before business takes place. For the United States of America,The emphasis is on deal making in it. Americans do not feel it is necessary to form a personal relationship before entering into a business contract with someone. A fast-paced, scheduled plan is the way negotiations are conducted, and for the most part, individuals in the United States do not like to haggle. This research has illustrated the importance of knowledge of other cultures as the key to reducing risk of failure in business relationships. Revisiting John’s trip to China from earlier, it is now easy to identify exactly what he did wrong. His company is also to fault for not making sure he was prepared to meet with Chinese clients before he was sent. Today, globalization is the norm, and it is important that people go to different  countries prepared to do business and behave in a socially acceptable manner. This includes having a sense of communication styles, being aware of body language, learning meeting and negotiation skills, dressing appropriately, giving proper greetings, and learning how social events are conducted. It is best to be sensitive to other cultures and always treat people with respect. Goethe once said, â₠¬Å"There is nothing more frightful than ignorance in action. † This applies to international business and business people should be aware that informed actions will be appreciated by all.