Global Business Environment
Developing Country - Bangladesh
The economic, political and social problems of this country include overpopulation which is a stem cause to almost 99% of all other existing problems. Bangladesh’s population is rising at a rate that may lead to a population unsustainable for our country. Within few decades, our population have increased from 70 million to 140 million+. If the population keeps on rising at the same rate, it would lead to either war or starvation that would reset the population to a sustainable level. It would also increase the chances of Terrorism. There is also a widespread corruption at every nook and corner. The issues of intense bureaucracy and nepotism are at a peak and lack of quality education and awareness; antediluvian education system; deficit of quality universities and research institutes; pervasive illiteracy across all regions adds to the pain. Lack of professionalism, work ethic and persistence of blame-game culture
Horrible healthcare system, very few well-equipped hospitals for a massive population of 170 million, however the country has made substantial progress in the pharmaceutical industry. High unemployment rates i.e. large population, limited resources and poor infrastructure are some problems that take the lead. Lastly, religious and social conservatism, lack of international exposure has directly impeded foreign investments and international tourism in the country. On sociopolitical level, the ongoing and never-ending frictions between the religious-liberal, Islamists-secular, right-wing and left-wing, Pro/Anti-Pakistan-Pro/Anti-India affects the opinions of a lot of people. There is also severe violence against women and general increase in crime rate. Incidents of rape, public-place harassment and domestic abuse are at an alarming rate.
While comparing both the countries of US and Bangladesh, the need would be to create a company policy that is flexible so that no significant changes are required in the current fluctuating economy of Bangladesh whereas the economy in the USA is quite stable on the contrary. Furthermore, the main difference is a huge cultural barrier between the two countries where both the language and the beliefs and literacy levels might play a significant role as well. Sustainable company product can be used by youth and young adults of different lifestyles which is a considerable similarity.
Some cross-cultural communication issues that could result from differences in the social, political, and legal structures and hierarchies of a foreign country and those of the United States may arise. Some legal concerns in the USA might not be present in Bangladesh and vice versa. Similarly, the political framework of Bangladesh might not be welcoming to the expansion of new sustainable products and might prefer the extension and sales of existing products. The social context of religion also plays a dominant part where the people might denounce using such products as unholy due to their religious beliefs and perceptions. Some of them might also not avail their money to buy a product since many local made products promising the same attributes may be available to the people at cheaper rates.
The culture in Bangladesh is autocratic and not at all an open-door culture of America. However, studies have shown that with time, all the natives have shown greater response towards transformational aspects of leadership than any other. So, the need is to align a system where there are proper regulations but with a leadership exchange that respects employees as their company's part.
Developed Country (Austria)
If the company expands and imports products in Austria, the components prone to affect are the expense rate, taxes, import obligations, political soundness of the nation. Like all other purchaser merchandise, charge rate is likewise authorized on our reasonable items. Nonetheless, any adjustment in the expense rate in Austria is probably going to influence the income of the organization thus will affect the supply of feasible items in this market which can be both positive and negative. Also, Austria does not offer total organized commerce choice thus the taxes paid amid the import of the item is a factor that constrains the sum that is imported since duties add to the expense of bringing in any great. Additionally, the information demonstrates that the international exchange and importing conditions are confined together with the latest technology and infrastructure which keep on detrimentally affecting the international expansion within Austria. Thus bringing about vulnerabilities with the accessibility of sustainable items. In a similar way, the import obligation affects trade and commerce as well.
Also, political steadiness can also be taken as a component affecting company's expansion. This has an impact to a great extent on the grounds that once the items are imported, it would in certain regards rely upon the law whether the item could succeed in the particular markets or not. In Austria, as history demonstrates that political security just as the peace are not totally out of inquiry so such obstructions can affect our future arrangements and choices about when and the amount to import now and in times to come.
Fiscal conditions and aspects of economy incorporate financial development, business level, cost of crude materials including petroleum, expansion, intrigue and trade rates and buyer's dispensable salaries and so forth. The fiscal and economic variables in any society in general have an enduring consistency on the market. Another factor i.e. the inclination towards inflation can be identified with the political precariousness that prompts a steady ascent in the value of any country’s economy. Since economy is stable in Austria so there is no threat of inflation.
Keil, R., Bell, D., Fawcett, L., & Penz, P. (Eds.). (1998). Political ecology: global and local. Psychology Press.
Lewis, D. (2011). Bangladesh: politics, economy and civil society. Cambridge University Press.
Reichel, A., Mayrhofer, W., & Chudzikowski, K. (2009). Human resource development in Austria: A cultural perspective of management development. In The Cultural Context of Human Resource Development (pp. 90-107). Palgrave Macmillan, London.
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