Doing Business in Asia-Pacific example

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Doing Business in Asia-Pacific

Abstract

The success of different businesses largely depends on their possibility and capability to adopt and implement the strategies acceptable for a specific region. In view of various geographical, cultural, and socio-economic peculiarities, doing business in the countries of the Asia-Pacific region requires that one should fully know and understand not only economic and market conditions but also specific features of their geography, culture, and business customs. In order to succeed in doing business in this region, businesses should adhere to the principles of mutual respect for business traditions, cultural conformity, punctuality, and business efficiency. It should be also noted that many countries in the region fail to comply with labor and ecological rules, the fact of which emphasizes the necessity to work globally in this direction.

Keywords: international business, Asia-Pacific, business customs

Doing business in Asia-Pacific

The success of different western businesses largely depends on their possibility to find and implement new approaches to performing business activities in a specific region. Asia encompasses a large territory on the
Eurasia continent, which includes the countries of different geographic, cultural, and economic background. In view of this, for the purposes of this paper, the area of research covers the countries of the Asia-Pacific
region, in particular, the largest economies such as China, Japan, and India. Taking into account such diversity of geographic, social, and dimensions, it becomes a question of a significant importance: how do these
dimensions influence the conditions for international business and what the companies from other regions should take into consideration while planning to enter this immense market.

The Asia-Pacific region covers approximately 2.8 billion hectares of land (22% of the global area of land) and stretches from the borders of China and Mongolia to the north to Australia and New Zealand to the south
(“Over view of the Asia-Pacific Region”, 2016). This implies the availability of a wide spectrum of climate conditions, starting from temperate, to tropical and subtropical zones, as well as a variety of relief areas, including considerably high plateaus and mountains in Pakistan, India, or China, and island countries in the South. The peculiarities of climate and relief define natural resources, the deposits of which vary throughout the region. According to the CIA World Factbook (2016), India is rich in coal, iron ore, manganese, bauxite, rare earth elements, natural gas, and arable land. China has rich deposits of ore, iron ore, natural gas, mercury, lead, zinc, rare earth elements, arable land, and hydropower potential (the largest in the world). At the same time, Japan has negligible mineral resources. In fact, this country is one of the largest importers of such natural resources as coal, liquefied natural …

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