Could global business deals be 1 of the 7 deadly sins?

globeIn the marketing sphere the world truly has become a global village. Current technology is not only making it a promising idea, but also absolutely possible to engage in business with people across borders, continents, time-zones, cultures and languages. On the one side it is hugely exciting and often lucrative, but on the other there are many obstacles that are frequently overlooked in the zeal of the deal.

New era of business

We know that doing business in the global arena is potentially easier than it used to be. What is difficult is analyzing the opportunities and challenges that come with the territory. It seems that for successful multinational trade relations to develop, all parties involved need to embrace a global outlook. To make it work, it is of paramount importance to count the cost and accumulate the necessary know-how, taking into account, the cultural differences, the various risks involved and last but definitely not least, the significance of economic diplomacy.

You sell, we buy – no problem?

“If people are communicating with different cultures, they very often find out that certain things they may have said or done may not have been received in the way that they intended,” explains Gayle Cotton, cultural diversity expert and author. But is it really so problematic to engage with people abroad? If they want to sell and we want to buy, culture, borders and language differences should play a minor role.

Opportunity to win or sin?

The seven deadly sins are those transgressions that are fatal to progress and progress is essential for longevity, growth and stability. As more and more businesses reach out to find overseas products and vendors, we are going to take a look at the pros and cons thereof in the next couple of weeks.

Watch this space for more…

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