Culture, Customs, and Communications
International corporations all over the world are looking for new ventures and ways to expand their market beyond their own boundaries. A lot of these opportunities exist in emerging markets such as China and the Caribbean/ Latin American region and require a completely different set of standards, skills, and principles in order to be successful in these foreign territories.
The criteria and obstacles faced with business and transactions in emerging markets are sometimes difficult, complex and challenge the corporations in relation to areas such as multicultural management, corporate governance, customer service and supply chain management.
Despite all these underlying considerations, there are the cultural and human resource elements and communication limitations as it refers not only to language but also to culture and customs.
A fundamental aspect of emerging transactions, namely the 3C’s, must be recognized and focused on.
Alton Worldwide believes that the common denominators for success in these emerging markets can be expressed in terms of the 3 C’s: Culture, Customs, and Communications.
Alton utilizes a successful model and approach to adapt with respect to Culture, Custom, and Communication when venturing into these markets and validates the self-developed model in the thesis “The 3 C’s of Emerging Markets” showing that the importance for success must have the presence of all three C’s collectively.
“Culture is the real power of Globalization
…….Understanding Culture is the key to successful globalization…..”