March 15, 2017
A key to being successful in business internationally is to understand the role of culture in international business. Whatever sector you are operating in, cultural differences will have a direct impact on your profitability. Improving your level of knowledge of international cultural difference in business can aid in building international competencies as well as enabling you to gain a competitive advantage. As business grows, we may develop a diverse group of employees. While diversity often enriches the workplace, it can bring a host of complications as well.
keeping in view Mohammad Ali Jinnah University organized an event where Trade Development Authority of Pakistan, (TADP) Sr. Director General Nusrat Jamshed said that Culture sets standard known as customer standards, according international product cultural strategy shalwar kameez cannot be exported to New York only skirts can be exported there. This he stated while he was addressing to a seminar on “The cultural difference in business” at Mohammad Ali Jinnah University, Karachi last evening.
The seminar was organized by student’s business administration society. CEO, Tungsten Bond Muhammad Bari also addressed to seminar. Addressing to the seminar Nusrat Jamshed said that culture does not create any difference upon business, any culture of any business may be defined as per following five reasons;
- Take advantage of the money spent
- Improve future prospects
- Acquire skills/ create awareness of new process
- Give enough to profit
- Abhor dullness and put glamour in your life.
He said for the success in business, we need to focus on Research & Development for target market, research findings to be analyzed, adaptable to the need/culture and profitability & return on investment. He said to be successful in business; you need friends, to be very successful you need enemies. CEO, Tungsten Bonds, Muhammad Bari who has working experience with various multinational companies in different countries said that only profit determines culture, one can work with different diversification.