The Importance of Cross-Cultural Awareness for Effective Management
Within the last decades, a tendency for massive internationalization and globalization of economic activity has been developing in modern business circles. Economic globalization and international expansion bring new ample opportunities for world’s business structures, open the doors for foreign trade and commerce, and benefit economic growth and social welfare.
That is why nowadays the number of multinational companies, corporations and business associations is rapidly growing. Within the scope of this tendency, it is difficult to imagine a motivated manufacturing or commercial institution which does not seek expansion of its economic perspectives and does not look for an opportunity to raise its commercial ambitions to much higher levels.
If a business organization or structure plans to expand its activities and break into international business environment, it is absolutely essential for its management to be aware about all various cross-cultural backgrounds and communicational challenges, which can be faced when establishing business contacts with overseas partners. Before starting doing business abroad, it is necessary to study thoroughly all possible issues related to cultural and historical traditions, customs, etiquette, the key values of foreign business culture, approaches and expectations, as well as social attitudes and standards.