C. Investment Promotion & Cross-Cultural Communication
Content:
Analysis of intercultural issues relevant to Foreign Direct Investment communication and business nego-tiations.
Dimensions of National Cultures (DNC’s): Power distance, individualism vs collectivism, masculinity – femininity, avoidance of uncertainty, short- vs. long-term orientation.
Important Business Negotiation Factors (BNF’s): Time factor, perception of an agreement, trust basis, communication context, decision making, values and beliefs, other social and personal characteristics and behaviours.
Ways in which Dimensions of National Cultures affect communication and Business Negotiation Factors. Examples and case studies.
Learning outcome:
Further development of capability of understanding national cultural differences and managing interna-tional business negotiation processes with particular emphasis in dealing with cross-border investments.
- Understanding: Distinguish important differences in various cultures. Be informed on the historical background, influence of religion, cultural heritage and social environment that influenced the evolution of these differences. Get to know how these could possibly affect the progress of a business negotiation.
- Respecting: Feel comfortable with accepting the characteristics (values, beliefs, behaviour, etc.) of the culture of the counterpart as granted and do not attempt to disregard them or change them; but rather consider them as basic conditions for a negotiation.
- Managing: Learn best practices for succeeding in international business negotiations. Be able to conduct processes and develop solutions that lead to well balanced deals that are satisfactory for both despite substantial differences in the cultural background of the two parties.
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