53187 and 53190 International Business in Practice Assignment Sample 2024
1. Introduction
Application of Hofstede’s Cultural theory in the footwear market of Bogota, Colombia is the main concern of the essay. In this essay discussions about the footwear market of Colombia and the UK are done that helps in identifying the suitable conditions to do business in Bogota, Colombia. Analysis has been done on the conditions that help in making suppliers with footwear industries of Bogota, Colombia.
Hofstede’s theory of cultural dimension is used for identifying the suitable conditions for the business of ABC which intends to start import business with the footwear suppliers of Colombia. This essay has thrown light on the potential problems in the market of Bogota, Colombia, and the UK.
2. Section A: Hofstede theory
Hofstede’s cultural dimensional model is used by the company ABC of UK to analyze the footwear market of Bogota, Colombia. Suppliers of the company ABC were in Italy, Spain, and Portugal however the Brexit made it difficult to rely on these suppliers (Demmler et al. 2018). A new supplier in Bogota Mexico was found for supply and Hofstede’s cultural model helps in analyzing the essential factors for relying on the Colombian footwear market. The Hofstede model focuses on the change in the behavior of a market due to the environment (Rai et al. 2019).
Hofstede’s cultural theory dimensional model helps in identifying the effects of the values and culture in society. There are 5 cultural dimensions that are essential for an effective stay in Bogota for the analysis of the footwear industry.
Identity
Identity provides help in identifying the individuals who are involved in the job and provides identification of the countries to be compared. Walking boots and hiking boots are the two categories of boots that are identified by the UK for supply from the Colombian market (Demmler et al. 2018). Identification of the designs that are beneficial for the business of ABC needs to be done for effective import of the walking boots and the riding boots.
Power
Power provided information about the rules and regulations that are essential for effective supply from Bogota, Colombia. Identification of the effective rules has allowed the organization of ABC of the UK to understand the rules of trading and supply as the government has rules for supply (Copeland, 2021). The power of providing permission for supply is in the hands of the Government and the government of Colombia and the UK needs to agree for effective supply. The new target market of Colombia saw a decrease in production and sale in the year 2020 (Gábor, 2020).
Gender
Importing the leather footwear from Bogota, Colombia affects the footwear market of the UK as the new suppliers have products that are different from the suppliers of Spain, Italy, and Portugal. Both men and women are the targets of this new supplier market and boots for walking and hiking are the main concern (Rai et al. 2019).
Uncertainty
Uncertainty of the failures and the critical situations need to be analyzed and as an importer of the organization of ABC, I need to do effective trading. The footwear market of the UK needs walking and hiking boots and the supplier of the Bogota, Colombia needs to fulfill the demand of the UK footwear market (Sturley et al. 2018).
Time
Supply of the footwear needs to be done timely in order to avoid hindrance in supply and the suppliers of Colombia need to provide products timely. In the 2 weeks stay in Bogota, Colombia’s analysis of the working behavior of the Colombian market is done effectively (Demmler et al. 2018).
3. Section B: Comparison of Colombia and the UK
Comparison of Colombia and the UK is done based on the 6 dimensions of the Hofstede theory and this helps in identifying the similarities and dissimilarities in both the markets. These dimensions of Hofstede are selected by the organization of ABC of the UK in order to bring an effective analysis of import and supply (Johnson and Spellman, 2020).
The comparison of the dimensional index among the UK and Bogota, Colombia allows the supply of boots to the UK and helps in the analysis of the cultural difference prevailing in both countries.
Power Distance Index (PDI)
In the UK the score for power distance index is low and the power distribution is unequal among the population in the UK. PDI in Colombia is high as the population and the environment have a belief in the unequal distribution of powers among the people (Avoseh et al. 2021).
Supply of footwear from Bogota Colombia to the UK will be very difficult as there is a cultural difference in both the countries. In the UK people are very concerned with equal rights to all citizens. Colombia has different ways of thinking and this is the reason for high PDI in Colombia (Braslauskas, 2020).
Uncertainty Avoidance Index (UAI)
The Uncertainty Avoidance Index in the UK is Low as the population does not have to think about the changes in the future. They adapt to the changes efficiently and this helps them to carry out effective business (Sturley et al. 2018). In the region of Bogota, Colombia the UAI is high and this helps the countries to have similar thinking. Uncertainty Avoidance Index is a favorable dimension for the new supplier market and Importers of the UK. In both countries, the resistance to change is strong and this is beneficial for the start of trade and supply of boots for effective business (Ristevska and Temjanovski, 2019).
Individualism (IDV)
The individualism score of the UK is high and it is around 89 as the people are more private about their life. Colombia has a score of 13 in the IDV index which is very low and the culture prevailing there is collectivistic as they are open to all the people (Redondo et al. 018). This is an advantage for Colombia however the environment of the UK is not comfortable with openness.
Suppliers of Bogota, Colombia are open-minded and this will be beneficial for the business of footwear in Colombia. The supply of boots to the UK will bring enormous profits but for the UK it might be difficult to mix with the culture (Anh et al. 2021).
Masculinity (MAS)
The score for the UK in this cultural dimension of Hofstede is 66 and the society prevailing in the UK gives great value to competitions and achievements. In Colombia, the Masculinity index score is 64 and this is considered as a score that is high (Larsen and Bennett, 2021). Competition and achievements have great value for achieving success in Bogota, Colombia.
This is an effective dimension that allows Colombia to provide competition to the market rivals in the business (Ristevska and Temjanovski, 2019). The environment of Colombia is suitable for the growth of the boots business and the UK will be highly benefited by the supply of boots.
Long Term Orientation (LTO)
The score of the UK is neutral as the country has effective technology to face the challenges and retain the past links. The supply of boots from Colombia to the UK will not be difficult when this dimension is taken into consideration (Larsen and Bennett, 2021). In Bogota, Colombia the LTO index is 13 and the thinking skill is normative and equality is provided.
The scores vary for both the countries however the score of the UK is neutral so this can be considered as an effective dimension for the supply of boots (Sturley et al. 2018). Long-term orientation helps in the effective import of the shoes from Bogota, Colombia.
Indulgence (IND)
A score of the UK in the Indulgence index of Hofstede dimension is 69 as the people have a sophisticated lifestyle and have a willingness to enjoy. This nature helps in involving different cultures and making friendly business proceedings (Johnson and Spellman, 2020). In Bogota, Colombia the score for the Indulgence index is 85 and this indicates the willingness of the people of the country to lead a happy life and enjoy their living. This dimension is effective as both the countries gave similar thoughts and this helps in effective import (Avoseh et al. 2021).
4. Section C: Differences and potential problems
Identification of the positive and negative factors is done with the help of the dimensions of the Hofstede cultural dimension model. Distribution of powers in the UK is equal and this acts as an effective role in importing the products from Bogota, Colombia (Demmler et al. 2018). The environment of Colombia is not suitable for business when power distance index. Providing value to the opinion of others plays a vital role in business but in Colombia, unequal distribution of powers affects business (Johnson and Spellman, 2020).
People of the UK do not think about the changes that affect the environment and are always ready to adapt to the changes and it is similar to Bogota, Colombia. This is a positive side of establishing supply from Colombia to the UK as the similarity in adapting to changes helps trade (Sturley et al. 2018).
The environment of the UK is not collectivistic as the people are not open whereas Colombia has an effective open culture and this helps inefficient supply and managing good relations with the importers (Ristevska and Temjanovski, 2019). Improvements in the supply are brought with the analysis of the weak points in both the countries and deriving solutions for the identified problems.
High values are provided for competition, success, and achievements in Bogota, Colombia (Larsen and Bennett, 2021). In the UK these values are provided of high importance and this helps in effective business and importing goods. Changes in the cultural inequalities in the nation need to be improved as the import of goods from Bogota, Colombia may get affected.
The Hofstede model is effectively used for the purpose of identifying the difficulties of business by the ABC organization of the UK (Ristevska and Temjanovski, 2019). Colombia has an open culture whereas the culture of the UK needs to be changed in order to accept the products from the market of Bogota, Colombia.
The country of the UK has a habit of adapting to the changes and in this matter of new supply of boots, there are high chances of success (Avoseh et al. 2021). Problems arise when the supply is not done according to the needs of the market in which the supply is done. An action plan needs to be developed by the UK and Colombia for the smooth functioning of the supply and import facilities (Johnson and Spellman, 2020).
Changes in the supply system need to be adopted by Colombia as the business of boots depends on the demands of the people of the UK. Analysis of the opportunities in the UK market needs to be done by Colombia in order to accept their offer of being their supplier for the footwear industry (Ristevska and Temjanovski, 2019).
Laws of the countries need to be checked before starting with effective importing and supply of boots to the UK market. High risks are involved when this dimensional analysis is not done properly so it is recommended to have a clear idea of the action (Demmler et al. 2018).
5. Conclusion
It can be concluded from the essay that the Hofstede model is effectively used to identify the difficulties of trading. Hofstede’s model tells about the power, uncertainty index, tie, that are needed to be examined before the start of supply from Bogota, Colombia to India. A comparison of Colombia and the UK is done to find out the cultural differences and the environmental variations in both countries. Huge changes are analyzed however improvements in cultural thinking may provide benefits in importing the boots from Colombia.
A comparison graph of the Hofstede cultural dimension model is provided in order to have an effective understanding of all the dimensions affecting the supply from Colombia to the UK. Problems of supply from Bogota, Colombia to the UK are explained and solutions for mitigating those problems are discussed.
References
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