As the world is shrinking and businesses are more commonly working on an interna

Question

As the world is shrinking and businesses are more commonly working on an international level, understanding the differences among countries is becoming key in successful business. Assume you are an executive in a large corporation that just acquired a business in Brazil. Develop a strategy for managing the social, cultural, economic, legal, and political differences you will encounter when operating this new business.

To ensure immediate feedback, please submit a response between 100 and 1000 words. Essay length alone will not necessarily result in a high or low score.

Explanation / Answer

The most important aspect to be considered when entering a new market is the local language. I will hire the local talent who can help me in understanding the local business environment. I will also hire the international talent along with them and encourage them to embrace the culture of Brazil. I will provide a decent salary to the employees of the company and make sure that they have a good living. I will give importance to the social responsibility and create a positive impact on the society. This will make the business closer to the people and they will start trusting us. I will study the legal system of the country and identify what is required to run the company is the legal way. I will set up a legal team that is capable of handling any possible legal issue currently and also in the future. Brazil is developing country so the economic situation is gaining stability in the country. People have a better spending ability now and they need a better lifestyle. I will make use of this condition and offer benefits to the employees that can allow them to be happy with a good work-life balance. I will also create enough employment opportunities that can get the attention of the political parties as well. The governments always work towards creating employment for the people and our business will do that. But I will make sure that we do not rely much on the political scenario of the company. That can put us under a lot of pressure and the company should be stable enough to work constantly even when the political situation becomes unstable. So the rules and regulations in the country should be properly followed and gain the trust of the customers as soon as possible in order to establish a strong foothold in the country.

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