Cultural Aspects of Foreign Trading
Part of the Video Series Foreign Trading Tips & Advice
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Video Transcript
Cultural Aspects of Foreign Trading
This is Nikolai Pankratz with American Resource Network for Expert Village. Plus the things you need to consider the national pride. And I want to say with sincere heart, many times I've seen my partners in America, and I'm an American, come in and bully their way around. Don't do that in other countries. You've got to respect the, usually people in businessmen in countries, they have a certain pride. If you go to Greece or Mexico, well guess what? During lunch time, everything gets locked up. They all go to sleep. To us in America that's work, work, work. Well, to them, that's natural. That's natural, and we need to understand when doing business with, it would be good to learn some parts of the language and so on. So that's something to consider. Then consider the fact that in a lot of those countries, deals are made behind doors. Even with politicians, whether you like it or not, but that's the way it's done. Bribery is still very, I mean, they are coming down hard on it, but that's still a very important aspect. And we're not encouraging you to participate in that, but what I'm saying, that's something to keep in mind because that's something that you agree possibly on, you know, by contract behind doors that there's other things that could go on behind doors. So keep that in mind when you're doing business overseas. Quality control is another aspect, and we're going to discuss it in the next segment.
This is Nikolai Pankratz with American Resource Network for Expert Village. Plus the things you need to consider the national pride. And I want to say with sincere heart, many times I've seen my partners in America, and I'm an American, come in and bully their way around. Don't do that in other countries. You've got to respect the, usually people in businessmen in countries, they have a certain pride. If you go to Greece or Mexico, well guess what? During lunch time, everything gets locked up. They all go to sleep. To us in America that's work, work, work. Well, to them, that's natural. That's natural, and we need to understand when doing business with, it would be good to learn some parts of the language and so on. So that's something to consider. Then consider the fact that in a lot of those countries, deals are made behind doors. Even with politicians, whether you like it or not, but that's the way it's done. Bribery is still very, I mean, they are coming down hard on it, but that's still a very important aspect. And we're not encouraging you to participate in that, but what I'm saying, that's something to keep in mind because that's something that you agree possibly on, you know, by contract behind doors that there's other things that could go on behind doors. So keep that in mind when you're doing business overseas. Quality control is another aspect, and we're going to discuss it in the next segment.
About the Expert
Expert: Nikolai Pankratz is a German born entrepreneur with an impressive background in music, international banking, and foreign trade. Read More
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