Minimising Risk in International Business: A Model for the Republic of Korea

Abstract

International misunderstanding and misbehaviour occur because Americans often do not accurately perceive basic ways other people live. Far too often, business people and other Americans make unacceptable, offensive and costly mistakes because they are not aware of the cultural differences between the foreign host country and their own country. An inter‐cultural education model is presented that may be used as a guide to minimise risk in international business. At a minimum, the model, based on Korea, includes knowledge of the components in which most inter‐cultural differences are likely to occur. The components are geography, religion, history, communication, contemporary political setting and Korean military. The model may be adapted for other countries.

Citation

Mitchell, W.A. and Miley Lewis, E. (1987), "Minimising Risk in International Business: A Model for the Republic of Korea", Leadership & Organization Development Journal, Vol. 8 No. 5, pp. 20-25. https://doi.org/10.1108/eb053624