Free Online Course in International Business

Knowledge Statement

Knowledge of Cultural Issues of Buyer’s Country Which May Impact Payment Methods, Money Transmission Methods, Language Used, Credit Control Procedure, Level of Governmental Control, Corruption Issues, and Sources of Finance

Goal

The goal of this material is to introduce you to cultural issues that may arise in a buyer’s country and the impact they may have on payment and money transmission methods, as well as the level of government control, corruption issues and sources of financing that may or may not be available in the country.

Learning Objectives

At the end of this lesson, you will be able to

• identify cultural issues that may impact trade finance negotiations.
• identify cultural issues that may affect international finance methods.

Introduction

Understanding cultural differences is a critical aspect of international business. An international manager is not expected to master the cultures of the world; however, understanding the ways culture affects business is necessary. When selecting markets for entry or as a source of supply, an international manager must become familiar with the specific cultural factors, business etiquette and issues involved in conducting business abroad.

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