If you’re in business and not aware of BRIC, you might think its material for building a structure – it’s not. It is, however, a possible building block for American companies looking to the future.
“Dreaming with BRICs: The Path to 2050” is an economic study released in 2003 by financial giant Goldman Sachs. The report focused on four developing countries: Brazil, Russia, India and China. It predicted that these four BRIC nations’ economies could grow to be bigger than the entire Group of six (G6) leading industrialized countries, which Germany Consumer Phone List includes the United States, Japan, the United Kingdom, Germany, France and Italy.
The report went on to suggest that the BRIC countries would become not only the primary source of manufacturing and the major suppliers of commodities, but also significant consumers.
Anyone in business can see the considerable importance of this last statement and its impact on the potential growth for American companies that are thinking “global”.
A company which has the ability to understand and appreciate another’s culture and customs will have the most success in today’s international arena. The training of employees, from senior management down to the person who answers the phone, must include an understanding of culture and customs to maintain the highest levels of customer service for its international clients.
An American businessman in Brazil, thinking he was showing his approval, gave the “OK” hand gesture to a client. Later he was told that hand gesture is considered terribly rude in Brazil! It’s also considered rude or insulting in Russia and Germany, but has a whole different meaning in France and Japan.
Never underestimate the importance of protocol in dealing with another country. “Know before you go” and act in accordance with their culture, customs and religious observance.
Listed below are some things to consider before doing business with a BRIC country or with any international client.
Is the country a mono chronic or poly chronic culture?
These are basic cultural preferences in how life is approached, how time is perceived and how business is done. All BRIC countries would be considered poly chronic, meaning they take the time to build relationships before they do business. For Americans, who are mono chronic – straight down to business, this is especially important to know in contract negotiations. A deal could be lost just because the international client was put off by the approach.
Handshakes Customs differ around the world. In Brazil, it’s a warm handshake (but not a “wet noodle”); the Russian’s prefer a firm handshake along with direct eye contact. In India, the traditional greeting is the Masters: palms of the hands pressed b2c phone list together in a praying position and held about chest high, accompanied with a slight bow forward. China uses a nod or slight bow; they do not smile when being introduced, or the American handshake is acceptable.