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Domestic vs International Business (International (Deals with multiple…
Domestic vs International Business
International
Deals with multiple currencies
Huge capital investment
High quality standards
Many Restrictions
Operates within the whole world
Heterogeneous customers
Research cannot be conducted easy
Restricted mobility factors of production
Domestic
Deals with one currency
Less capital investment
Lower quality stanards
Few restrictions
Operates within country only
Homogeneous customers
Research is easily conducted
Free mobility factors of production
Business differences in the US vs South Africa
Business scheduling
US holds business all months throughout the year with the exception with a handful of federal holidays
SA also celebrates federal holidays, but almost everything is shut down the second half of December and the beginning half of January along with important Jewish holidays
Body language
In the US, most relaxed body language can be common
In SA, a high emphasis is put on body language. You should never put your hands in your pockets when conducting business and never EVER point at anyone!
Trust
In the US,
Trust is important in SA, so much so they won't do business with people they don't know or weren't recommended by a trusted source
Women vs Men
In the US, women can be found is all positions of an organization
In SA, women are still fighting and are not as accepted in the business world
Language
In the US, English is spoken to conduct business
South Africa has 11 national languages, any of which could be used in business affairs