Achieving Global Business Success by Understanding Cultures

Globalization is accelerating international trade. Culture affects how business executives think and act as individuals and within global organizations, and how they work across cultures dictates success.

For optimum cross border success, it is imperative to understand and acknowledge each other’s cultural traits and beliefs. And so for this globinar, we spoke with business leaders about their experiences and tips.

Watch our discussion HERE.

While dealing in this multicultural market being considerate about certain aspects can help us in the business journey. These may include: :

• How culture impacts the way people value time and deadlines.
• How people respond to management and authority.
• How people perceive verbal and physical communications.
• How people make decisions.
• How they negotiate etc.

Reflecting on these points can surely improve the quality of business interactions.

Importance of Culture in Business:

• Understanding a business counterpart’s culture can help the entrepreneur or intrepreneurs make better business decisions. For example, one can get a better idea about people’s feelings towards uncertainty, local practices, government relations etc.
• Entrepreneurs can make better predictions about the local market and new opportunities.
• In a cross cultural work environment, it’s easier to understand how to manage people better.
• Helps to understand when to enter a market, how people might negotiate or do a deal etc.
• Minimizes cross cultural misunderstandings. Especially for SMBs/SMEs, this is critical.

Working in a global environment requires understanding of various etiquettes, mindsets and how individuals respond on the business table based on their unique regional traits. Entrepreneurs and professionals need to be aware of culture. This will surely lead to more tangible goals for the company in terms of higher sales or increased profits. Moreover, getting introduced with different cultures in the world will assist to grow the network of businesses.

For this event we had several collaborators...

1. Global Chamber® Dhaka and Global Chamber® Barisal
2. ICE Business Times
3. MCFG

Keynote Speaker Bios

**Raihan Hadi

Managing Partner & CEO at Galaxie AG

Raihan is a seasoned professional with experience in diverse industries. Starting his career 22 years ago for his family business as a merchandiser in their buying house, Raihan has more than 20 years of hands on training and practice in RMG, Real Estate, Research and Publications Management, and International Trade. He has also worked for the Bangladesh and Korean Government in the commercial sector. Hey currently resides in Malaysia but but is a global entrepreneur.

Koleman Lutz

Co-founder at Journey Foundation

Kolemann is an entrepreneur with four years of experience in Earth observation, geospatial analysis, and spacecraft design with a background in nonprofits. Born and raised in the Washington, D.C. area, Kolemann holds a B.S. in International Business. He is the Cofounder at Journey Foundation and is an alumnus of the Space Entrepreneurship Center at International Space University. Koleman has spent a significant amount of time in the South East Asia region taking in local culture and engaging with the people.

Labiba Zaman

Lawyer at Amir and Amir Law Associates

Labiba is a lawyer who has been working in Bangladesh’s renowned law firm Amir and Amir Law Associates for the past 3 years and has dealt with many international clients for corporate solutions. Labiba has completed her LLB hons from the University of London and LLM in International Trade Law from Northumbria University UK. Alongside her legal practice she has also been working on research work with her Senior in the chamber. Labiba is very friendly, enthusiastic, determined and hard working, putting her heart and soul into what she does.

Farzana Afrin Tisha

Business Development Manager Global & Head of Marketing at Brain Station 23

Tisha is an Electrical & Electronics Engineer academically who is working as the Marketing Lead in one of the top home-grown Global IT company Brain Station 23 Limited. She is also working for Global IT Business Development in Brain Station & has more than 5 years of experience in both the local & global IT industry. As such she has experience with working nations the West (such as Germany and the Netherlands) as well as the East including Japan. Besides being an IT Marketing & Business Development Enthusiast, she is highly involved with tech community work. She is one of the co-founders of the one and only AWS Community in Bangladesh. Along with that, she is Google's #IamRemarkable Facilitator in Bangladesh.

Gloria Petersen

Founder and Director of Global Protocol Academy

Gloria is founder and director of Global Protocol Academy, has provided training, seminars, and coaching in professional image, cultural etiquette, and international protocol for over 30 years. She primarily trains corporate trainers, university professors, and career coaches in the image and soft skills needed to build global relationships with professionalism and confidence. Gloria is a renowned Certified Protocol Professional and author of “The Art of Professional Connections,” a four-guidebook series (artofprofessionalconnections.com). Her clients range from Fortune 100 companies to emerging entrepreneurs. To learn more about the academy, visit GlobalProtocolAcademy.com. To learn more about the author and founder, visit GloriaPetersen.com.