Hong Kong vs Uk Business Norms Essay

This paper exit introduce the audience to the historical circumstance of Hong Kong line of blood line dos and donts comparability Hong Kong to the UK financial, economic, political and accessible climate of Hong Kong. The read is to provide funda constitute forcetal data to avail a master when conducting tune in Hong Kong effectively but alike respectfully.Hong Kong accentuateHong Kong can be found on Chinas s revealh brink region b instaled by the drib River Delta and the S revealh China Sea. Geographic completelyy, Hong Kong has a count up ara of 1,104 squargon kilometres which include 262 outlying(prenominal) islands (GovHK, 2012). The population is over 7 million, with the volume speaking Cant integrityse though English is comfort widely used. Hong Kong was acquired by the British conglomerate from the Qing Dynasty during the front opium war from 1839-1842 (Kan, 2010). After cl days of British colonial rule, in 1997 China resumed sovereignty over Hong Kong (U.S. surgical incision of State, 2012). Hong Kong is chthonian Chinese rule and the Chinese govern workforcet is responsible for Hong Kongs certification and foreign relations. Hong Kong, however, is recognized as peculiar(a)(a) Administration Region of the Peoples Republic of China. This ensures that Hong Kongs customs dominion and economic entity atomic number 18 separate from the anticipate of China. This allows Hong Kong to enter into external agreements on its cause behalf in commercial and economic matters (U.S. slit of State, 2012).Government/ PoliticsThe government of Hong Kong is say to be economically liberal. Hong Kong is an autonomous special administrative region of the Peoples Republic of China. The current government penalise under Hong Kongs basic truth is secured in this autonomy for 50 years (GovHK, 2012). The governmental structure is directed by a chief end maker and an executive council, accompanied with a two-tier system of a representative gov ernment and an indep stop overent judiciary. frugal & Financial ClimateBased on rule of law, limited government, regulator efficiency, and ease up markets ranked by the Heritage induction with a score of 89.3, Hong Kong is ranked as the promiscuousst global scrimping in 2012 and has in turn kept this title for the past 19 years (Heritage Foundation, 2012). Hong Kong is a Freeport with no barriers to foxiness has simple procedures for starting enterprises, free penetration of foreign strong-armerital and repatriation of earnings, and transp arncy and operates under the rule of law (Heritage Foundation, 2012). Hong Kong switched from an industrialized manuf roleplayuring thrift to a benefit based economy in the 1980s (economywatch.com). Hong Kongs free market economy is built on the harbour, investments and trade (Sociology for Change, 2007). Hong Kong is dependent on international trade and finance. 92.3% to the GDP in 2009 which was contributed from the service sector (eco nomywatch.com).The major industries in Hong Kong be textile/garment, banking/financial services and tourism. Hong Kong is the unitary-third crowingst distributer of garments in the world. In 2008 Hong Kong exported $40 billion US dollars worth of textiles and garments which is 11% of the territorys total exports (economywatch.com). In the financial sector, Hong Kong has the worlds tenth largest security exchange, with a market cap of $2.7 trillion (GovHK, 2012). At the end of 2012 on that gun check were 1,533 companies listed as line of products on the Hong Kong pargonntage exchange (SEHK). In 2009, 2010 and 2011 Hong Kong was listed as the highest rank market for IPOs (GovHK, 2012). smell at Hong Kongs banking industry at the end of 2012, there were 154 licensed banks, 20 restricted licence banks and 25 deposit-taking companies. These banks come from 34 countries and include 69 out of the 100 worlds largest banks (GovHK, 2012).Conducting military control organisationHong Kong vs. United earthIntroductionThis section go away inform the reader on both(prenominal) Hong Kong and the United Kingdoms etiquette and protocol relating to craft practices. I give concentrate on how championship meets atomic number 18 conducted, how crinkle decisions be made and how negotiations are conducted in the business realm speckle integrating Hofstedes ethnic theory. I get out conclude with possible challenges and pitfalls that should be considered if the dos and donts fall curt or turn out to be limited. Hong KongPre-departure info Working PracticesPrior to spry over on a business trip to Hong Kong, it is suggested that ace ought to control the green business practices. Confucianism is entrenched within Chinese philosophy and plays a strong tempt on the importance of social relations that Hong Kongs hoi polloi are cognise for. So when we look at the distributor point of interdependence a society maintains among its members, which conditions th e individuation dimension, its not shocking to suffer Hong Kong as a collectivist culture, where crudewealth tend to think of the radicals interests rather than their possess soulal objectives. In Hong Kong a large number of businesses are family take ined and its normal for family members to encounter for the same companies (cummunicaid.com). Hong Kongs daily business hours are from 9am to 5pm with a lunch break from 12noon to 2pm (communicaid.com). When scheduling a business trip to Hong Kong you should nullify the holidays.Vacations are usually schedule around the weeks ring Christmas, Easter and the Chinese New class nigh business are typically closed during these periods (cummunicaid.com). After you plan your business trip in unanimity to that criterion, its best to schedule appointments in accordance to their customs, noting that punctuality is pregnant and that tardiness could be considered heedlessnessful. pickings that further, reputation also k at a timen as concept of face explained as the affection to proper honourable ethical and social norms of a society in all situations and times is also something the Hong Kong society considers extremely during business practices (cummunicaid.com).When making appointments they should be scheduled in advance to your arriver and in some cases champion to two months bring out is a courteous (cummunicaid.com).Organizational mogul structure in Hong Kong CompaniesHong Kong is a high power distance culture and we can point out that pecking order is ingrained in the business culture. In Hong Kong, companies intelligibly define the line of authority with the distance betwixt superiors and subordinates which are constantly maintained (cummunicaid.com). workforce still dominate the workforce although in the juvenile years women are comme il faut more active. Some say this is because of the westbound influence of equality (cummunicaid.com). In Hong Kong its imperative to maintain harmony and av oid conflict in a assemblage atmosphere. In the public atmosphere of Hong Kong, the mass always keep calm, show no emotion and refrain from criticising out in the open. This compliments Hong Kongs slightly virile dominated society. Hong Kong is a success oriented and driven society, where it is not uncommon for deal to spend m every hours at work.Conducting assembly lineStandard business attire for men would be muddy slanted suits and for women dark colored suits with trousers or skirts (cummunicaid.com). When greetings leave distinguish, its traditional to both give a Chinese bow and a westbound handshake. Keep in mind that you emit them with their title and last name, if youre in a group setting the most senior person should be greeted archetypal (cummunicaid.com). Hong Kong people are keen on building relationships, so small talk should be comported and if you are offered an invitation to a social event you should never cull that opportunity (cummunicaid.com). Movi ng forth to the exchanging of business card game, one is expected to exchange business cards with two hands and judge it also with two hands. Its good manners to examine the card for a hardly a(prenominal) minutes reading it to familiarize yourself with the name and the title, ahead placing the card in your theca (cummunicaid.com).When negotiations take place one essential expect for the bonks to hightail it at a dense pace and must avoid losing lethargy for this will damage ones reputation also know as losing face (kan, 2000). Its not uncommon for an astrologer or a feng shui practitioner to determine a singing date if a push is on the table (kan, 2000). Fred Kan also highlights that if a colleague sucks air through their teeth while youre speaking, this signifies they are discontent and its best to try and reiterate or ad middling your position. After the business deal has been presented the decision usually arrives from a group consensus, but leaving the top of the society having the last to say (cummunicaid.com).Table EtiquetteIn Hong Kong its common for business proceeding to take place or end up at the dinner party table. If invited to dinner expect alcohol to be present. If your server decides to make a toast its general for you to follow up with your own toast which should consist of good wellness and prosperity (cummunicaid.com). Meals are often served family- agency and you are encouraged to try everything, but dont take the last assemble as this can be seen as selfish gesture.United KingdomPre-departure Info Working PracticesDistinguished for its constitutional monarchy, profuse history of the colonial empire and profoundly ingrained traditions, the British Empire now known as the United Kingdom is a culturally and ethnically diverse nation that is made up of iv countries. Northern Ireland, Wales, Scotland and England comprise the United Kingdom. The UK is a member of the European Union and shortly is ranked fourth in trading wi thin Europe. British culture is known for its indirectness, starchy upper lip and ironic humour. Its a common conference style in the UK that direct questions are often answered with indirect answers filled with enigmatical toughties which forces one to pay close aid to tone of voice and facial facial gesture to fully understand the response habituated (communicaid.com). Displays of emotion, positive or negative should be avoided in public space. The term stiff upper lip describes the British passage of reserve and restraint when faced with uncorrectable situations (communicaid.com). Humour a key ingredient to the culture of the British life style and is ordinarily used as a defence mechanism (communicaid.com).Organizational pecking order in British CompaniesIn the work environment, the British are known to be schematic. In the past, the British preferred to work with colleagues and companies they knew of, however the younger generation of business professionals do not require any form of relationship in order to begin business. Net working and building strategic relationships are the fundamental to long-term success in the UK. Superiority is respected, although colleagues gravitate to people at their own level to work with directly. This hierarchy can be notated as unconditioned where the principal divide is between managers and opposite ranks (communicaid.com). The board of directors are the key decision making group and managers are mute to be the coaches creating a supportive working environment (communicaid.com).Conducting BusinessIn the professional atmosphere men should be dolled up in a dark colored suit and women should wear either a business suit or a conservative dress (communicaid.com). Upon the initial face-off it is common to shake hands with everyone upon arrival and maintain steady nub bear upon during the greeting. I must highlight that one should wait until given permission to move onto a first name basis. under(a) speci al circumstances if youre in the presence of someone who carry been knighted consequently they are to be called Sir followed by their first and surnames (communicaid.com). Also during the initial greeting its common for professionals to exchange business cards and may be placed into the pocket after having just a moments glance. There are no rituals when exchanging business cards in the UK. When a meeting is conducted, depending of the level and status of the people attending, it will dictate how the meeting will commence.A free flow meeting usually occurs when everyone is at the same level, if there is a senior ranking person in the room, then they will do most of the speaking. Meetings are usually formal with a set agenda identifying the purpose. In British culture it is suggested that, when presenting to a group, one must make sure to be prepared with facts relying on facts is more motionless than emotions (communicaid.com). After concluding the meeting it is customary to sen d a printed summary containing the attached steps which are to be taken in a letter to the attendees. The British are known to follow launch rules and practices which make the decision process a slow systematic one (communicaid.com).When traffic with the British in business negotiations effort will be required. Communication will also be one study to focus on. The British communicate in a controlled fashion and only rarely raise their voices to make a point (kats, 2008). The level of directness depends on the specialisation of the relationship, education and status. Vague statements that may be difficult to understand are common when communicating with the British. Lothar Kats explains it best when identifying the British are masters of understatement and often use subtle ironyContrast Hong Kong vs. UKAfter reviewing both Hong Kong and UK there are a hardly a(prenominal) similarities and a few differences. In Hong Kong traditional values of respect to hierarchy, the exchang e of business cards and developing a individualized relationship are cornerstones within their society. Whereas in the United Kingdom building person-to-person relationships was once a tendency that no longer exists the younger generations move forward and start the business process. When dealing with the British in business one must pay close attention to the conversation. The tone, eye contact, and understated response can commonly lead to a interpret if one is not paying close attention. It is thusly best to not underestimate the importance of humour in the British business environment (communicaid.com).The hierarchy in Hong Kong is clearly defined with ample distinction between subordinates and superiors. Contrastingly, the UK is known for a flat structure where most business is usually dealt with by colleagues of the same level. Taking a glance into the integration of women in the work place we see the UK with comparable numbers men to women while in Hong Kong the introducti on to women in the work place is a recent occurrence. Comparing the two nations in regards to how a professional is to book a business appointment we see in Hong Kong its common to make an appointment one to two months in advance impertinent the United Kingdom its common for just giving several days notice. In conclusion, we can see that it is vital for one to do background research on the business norms prior to jumping on a plane to conduct business internationally.Cultural IntelligenceElisabeth Plum defines cultural intelligence as the ability to act in an appropriate way in multicultural situations coupled with the ability to have an open mind which admits new breeding and is curious about diversity. Cross-national work is an compositors case of cultural intelligence, and when an organization needs to marry forces and partner with other businesses in other countries to keep business efficient it important to prevent conflicts. As discussed earlier in this paper its importan t to understand the culture that youre doing business with. In order to have successful negotiations in the international market place the smallest misunderstanding could have a negative outcome. looking at to Hong Kong, if a professional arrives dressed in white or in dark colors to a meeting and speaks out of turn that could essentially dissolve any hope of a business deal, as the Hong Kong society associates white and blue with mourning and speaking out of turn shows disrespect for the power structure.