The challenges of doing business in China and Vietnam Term Paper

The challenges of doing business in China and Vietnam - Term Paper Example The global marketplace that has no borders takes into consideration the participation of all countries. Several changes are occurring in the global scenario, more with the enhancement of communications and technology (Understanding the Global Marketing Environment, n.d., pp.4-8). Several political, social, economic and technological implications arise owing to the changes and developments in the modern business world. These factors play a major role in the international marketing. The changes and developments are eventually encountered by all marketers who face the challenges in their operations in the â€Å"global business environment†. Changes in the international market reveal the emergence of newer sources of power in Brazil, China, India and Russia. The economic development seems to be shifting towards a restricted and impartial direction engaging itself in global businesses. New customers are also emerging with higher needs and demands with increasing competition among businesses. Indistinct boundaries of industries are causing deregulation in the business world. There are frequent changes in the use of technology accompanied by the emergence of greater service sectors than manufacturing as well as increasing transparency of business practices. C onsidering all the business benefits and obstacles, this report would primarily focus on the challenges of doing business in China and Vietnam. ... Entering a Global Market: Key Areas of Concern: The essential issues needed to be taken into consideration before entering a global market include Culture, Government, Economy, Infrastructure, and Relationships. As the report focuses on the businesses in China and Vietnam, these key areas are discussed in the context of China and Vietnam. Culture: The exchange of goods and services and other expertise among different countries tend to increase globalization reflecting increasing interdependence in the economy. Universal culture arises from particular groups of individuals in the different countries involved in different businesses. These cultural issues include the values and practices followed in a business (Leung, Bhagat, Buchan, Erez & Gibson, 2005, pp.358-359). Culture in China is known for its â€Å"orderly, hierarchical and control-based society† with the Chinese people being â€Å"patient, eager to learn, respectful and accepting of authority† (McKern & Denend, 2 004). If the culture practices in China are studied, it can be observed that China has its own â€Å"unique business culture and etiquette† (Chinese Culture, n.d.). Business relationships in China mostly involve a social relationship that tends to remain for a longer period of time. They give high importance to designations. Giving appropriate respect is a very important notion followed by the Chinese companies. Gifts and presents are always esteemed and accepted as adding value to the relationships. Moreover, business discussions in China generally include a lunch or a dinner that are highly focused in China (Chinese Culture, n.d.). The Chinese business can be found to maintain corporate social responsibility that is particularly focused on the human issues, scientific development, and harmony in