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International Business VS. Domestic Business, China, USA - Coggle Diagram
International Business VS. Domestic Business
International Business
Trade that takes place between two countries internationally.
Many Restrictions
Huge Capital Investments
Customers are heterogeneous
Multiple Currencies
Domestic Business
Trade that takes place within geographical boundaries
Few Restrictions
Less Capital Investment
Single Currency
Customers are homogeneous
China
Social Media is not checked as much. (WeChat is their Facebook to us)
Collectivism or group focus is more important in this culture.
Main language: Mandarin
Price is negotiated
Communist Party-led State
Elders are treated with the highest amount of respect and dignity. (Culture)
USA
Social Media is used more and not the same main site (Facebook).
Individualism or peoples own personal goals are more important than ones of a whole group.
Main language: English
Price is accepted as is
Constitutional Federal Repbulic
Elders are treated as another member of the family. (Culture)