Individual Assignment[1]

docx

School

Accounting Institute Seminar *

*We aren’t endorsed by this school

Course

2023

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by ElderKuduMaster744

Division of Management, Work and Organisation BUSU9BI: INTERNATIONAL BUSINESS Autumn 2023 (Individual Assignment) Internal Report: Navigating International Business in Japan Table of Contents Executive Summary Introduction Background International Business in Japan i) Important Business Practices ii) Opportunities and Difficulties iii) Adjusting to Developments in Technology iv) Sustainability of the Environment Important Aspects of Japanese International Business i) Table 1: Getting Used to the Workplace Culture in Japan ii) Table 2: Communication Business Case: Japanese Operations of MNE i) Strategic Growth ii) Global Expertise and Technological Advancements iii) Managing Cultural Differences and Contributing to Evolution Japan's Real Estate Industry: Handling International Business Industry Case: Japanese Real Estate Market i) Eco-friendly and Long-term Projects ii)Flexible and Multipurpose Living Spaces iii)Integration of Technology with Smart Real Estate iv)The ageing population and senior housing alternatives 1 | P a g e

v)Trends and Opportunities for Industry Growth Recommendation and Conclusion References 2 | P a g e

Executive Summary This internal report is intended to act as an extensive guide for the employees of Nihon Global Estates Corporation, a New York-based company that is growing into the Japanese real estate industry. Our Multinational Enterprise has made an intelligent move into a profitable and rapidly growing sector of the economy by entering the Japanese real estate industry. Our Multinational Enterprise, with its headquarters in New York, has the knowledge and expertise to manage all aspects of the Japanese business industry. As Japan embraces innovation in its real estate industry, our Multinational Enterprise is well-positioned to capitalize on its experience, form local collaborations, and respect cultural sensitivity to achieve maximum success. Introduction With its headquarters located in New York, Nihon Global Estates Corporation is a leader in innovation and quality in the global real estate industry. With a rich history spanning many years, we have skillfully combined international knowledge with a deep comprehension of the Japanese real estate market. Our dedication to accuracy, honesty, and environmentally friendly growth has made us a leader in the field of facilitating international real estate transactions. We explore the strategies that set Nihon Global Estates Corporation apart in this complex market in our internal report on conducting international business in Japan's real estate industry. As we delve into the specifics of Japanese culture, legal regulations, and relationships that shape the Japanese real estate industry, we must operate according to the fundamental principles of respect, honesty, and adaptability. To ensure Nihon Global Estates Corporation's continuous success and expansion in this rapidly evolving industry, this study attempts to provide our employees with the knowledge and strategies required to successfully negotiate the opportunities and difficulties inherent in completing real estate transactions in Japan. Background In the real estate industry, innovation and reliability are now associated with Nihon Global Estates' track record of success and integrity-based foundation. Having been in the business for over 20 years, we have rapidly and expertly negotiated all aspects of the Japanese real estate industry. From peaceful residential neighbourhoods to bustling commercial developments in large cities, our portfolio of completed projects shows our dedication to meeting the diverse needs of our clients and improving the dynamic Japanese real estate market. 3 | P a g e

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

International Business in Japan The international business of Nihon Global Estates Corporation in Japan is distinguished by a strategic strategy that blends localized expertise with a global vision. We understand the need to embrace cultural awareness, build trustworthy connections, and navigate the complex legal framework as we begin our real estate endeavours in Japan. Our steadfast dedication to moral business conduct and significant understanding of Japanese traditions establish us as a reliable associate in the real estate industry, guaranteeing that our endeavours not only strengthen our worldwide accomplishments but also effortlessly align with Japan's dynamic economic environment. Our MNE's close ties to Japan have given us a deep understanding of these cultural differences which enables us to conduct business in the industry with a high degree of respect and cultural awareness.c Table 1: Getting Used to the Workplace Culture in Japan:(Santander, 2023) (Melbourne, 2023) Table 2: Communication (Chowles, 2019) 4 | P a g e Protocol Overview Addressing people in the workplace Use honorifics (-san) while addressing clients and coworkers to demonstrate respect. Particularly if the person is a superior, never call someone by their first name. Interacting Building relationships during social events like dinners and drinks is essential to success in Japanese corporate culture. Participate in social events to build business contacts. Bowing A considerate and respectful move. Position and familiarity are two factors that can affect the depth and angle of the bow. Making decisions In Japanese work culture, reaching consensus and maintaining unity within a group is essential. Reaching a consensus and having lengthy conversations with coworkers are common aspects of decision-making. Respect and Hierarchies Respect for authority and hierarchy are highly valued in Japanese business culture. Respecting elders and showing respect to them is essential. Being on time Punctuality is essential. Respect other people's time by showing up to meetings a few minutes early.

Communication How to communicate well Formal Language Be direct in your communication but avoid using harsh language. Use courtesy terms and honorifics when appropriate. Nonverbal Clues Japanese people typically use indirect and discrete communication. Pay attention to nonverbal clues and, if needed, clarify anything with questions. Keep your eyes alert and give nods to indicate that you understand. Trading Business Cards (Meishi) A noteworthy tradition is observed in Japanese business gatherings. Use both hands to exchange cards, then closely inspect the one you were given. 5 | P a g e

Business Case: Japanese Operations of MNE (Support, 2022) Strategic Growth With its headquarters located in New York, our Multi-National Enterprise has strategically extended its operations into the Japanese real estate industry, acknowledging the country's ever- changing economic environment and growing need for innovative real estate solutions. Japan's property market is a target for our MNE, which has a track record of success in international real estate operations and a dedication to utilizing technology. Research articles and reports point to significant development prospects, particularly in the digital revolution of the real estate industry. Our MNE hopes to not only have a significant presence in Japan through negotiating the different cultural and business complexities described in the internal report but also improve the real estate industry by offering state-of-the-art solutions customized to the local market needs. Global Expertise and Technological Advancements With a proven track record of success in international real estate projects, our MNE aims to capitalize on Japan's rapidly expanding real estate industry. Our strategy's focus on utilizing technology as a foundation shows our commitment to staying ahead of industry advancements. There have been reports that the real estate sector in Japan is undergoing a significant digital revolution. This is an incredible opportunity for our business to promote the local market to its cutting-edge products and international expertise. By adapting our strategies to the shifting needs of the market, we intend to significantly impact and advance the growth of the Japanese real estate industry. Managing Cultural Differences and Contributing to Evolution As stated in our internal report, our multinational enterprise is aware of the cultural and business challenges that define the Japanese market. We are well-positioned to manage all of this because we understand the importance of connections, transparency, and sustainability. We wish to contribute to the expansion of Japan's real estate industry in addition to gaining recognition. This means fostering technological advancements, creating creative solutions tailored to local market needs, and contributing to the overall goal of transforming the sector. Our company is ready to travel beyond international borders and support innovations in the Japanese real estate industry, all the while upholding a commitment to mutual development and cooperation. Japan's Real Estate Industry: Handling International Business 6 | P a g e

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Our Multi-National Enterprise, Nihon Global Estates Corporation, has positioned itself strategically in the centre of the Japanese real estate market, knowing the immense opportunities and the challenges it offers. We conducted detailed market research and gained a thorough understanding of local preferences, demands, and legal regulations before making our strategic market entry into Japan. By utilizing our international real estate experience, we have customized our services to fit the needs of the Japanese market, making sure that our homes satisfy the demands and cultural differences of the regional customers. In the Japanese real estate industry, Nihon Global Estates Corporation places a high priority on risk reduction, taking legal regulations, market volatility, and geopolitical factors into account. They continue to be flexible and committed to innovation and sustainable growth, and they use cutting-edge technology together with ecologically friendly methods. Our success in Japan is built on the effectiveness of our employees, which is attained by continuous training to stay up-to-date on market dynamics, industry trends, and legal regulations, ensuring that our employees are capable of navigating the Japanese real estate industry. Industry Case: Japanese Real Estate Market Trends and Opportunities for Industry Growth Nihon Global Estates Corporation has identified distinct opportunities for significant expansion and market dominance by maneuvering through Japan's changing real estate industry, in harmony with the emerging trends that shape the real estate industry's future. Eco-friendly and Long-term Projects Opportunities: One important path to development is the rise of environmentally friendly and sustainable developments. The growing awareness of environmental issues in Japan has led to a rise in the demand for real estate developments that prioritize ecological effect reduction and sustainability. Trends in the Market: Eco-conscious, energy-efficient architecture, and green building initiatives are becoming more and more popular. Nihon Global Estates Corporation views this as a chance to actively support environmental conservation in line with global sustainability goals, in addition to complying with its legal responsibilities. Flexible and Multipurpose Living Spaces 7 | P a g e

Opportunities: There is a big chance to dominate the industry thanks to the desire for flexible and adjustable living spaces. The need for houses that offer flexible designs to accommodate a wide range of living preferences is expanding as lifestyles change. Trends in the Market: Trends point to a move toward multifunctional areas, smart home appliances, and remote work-friendly designs. Nihon Global Estates Corporation is aware of the opportunity to lead this market by providing cutting-edge solutions that suit modern lifestyles and improve residents' quality of life overall. Integration of Technology with Smart Real Estate Opportunities: The incorporation of technology into the real estate industry has a vast unexplored potential. Utilizing innovations like digital property management, virtual reality property tours, and smart home technologies can improve the customer experience and operational effectiveness. Trends in the Market: Japanese consumers are integrating technology into their daily lives at a growing rate. Automated processes, electronic payments, and virtual property viewings are becoming more and more common. In the Japanese real estate industry, Nihon Global Estates Corporation sees a chance to take the lead in offering cutting-edge technical solutions, optimizing workflows, and establishing new benchmarks. The ageing population and senior housing alternatives Opportunities: There is a growing need for senior living solutions due to Japan's ageing population. Nihon Global Estates Corporation now has the opportunity to support the establishment of facilities and communities that are accessible to people of all ages. Trends in the Market: Community-focused settings, healthcare services, and universal design principles are all popular trends in senior housing. Taking into account the changing needs of society, our multinational enterprise seeks to create projects that cater to the special requirements of the elderly and help create inclusive and supportive living environments. 8 | P a g e

Expected Achievement Intercultural Cooperation for Long-Term Effects Our multinational enterprise's expectation of success stems from its dedication to cultural inclusion. Our multinational enterprise is well-positioned to cultivate long-term connections and partnerships inside the Japanese real estate industry by understanding and honouring the cultural sensitivities mentioned in the Internal Report. In Japanese business, connections are seen as essential to success, and Nihon Global Estates Corporation is dedicated to creating long-lasting alliances that go beyond short-term commercial dealings. In the Japanese real estate industry, this cultural integration is viewed as a strategy for long-term success and impact rather than just a way to accomplish immediate objectives. Innovation and Industry Evolution In addition to focusing on expanding its market share, Nihon Global Estates Corporation hopes to make a positive impact on the development and innovation of the Japanese real estate industry. The multinational enterprise has the perfect opportunity to offer creative suggestions by utilizing its extensive experience in international real estate projects. Through keeping up with the digital transformation trends and technology breakthroughs outlined in our report, our multinational enterprise hopes to redefine expectations in the Japanese market and establish new standards for the industry. This innovative strategy not only accelerates our success but also constructive transformation in the overall industry of real estate. Integration of Technology At Nihon Global Estates Corporation, we understand how important technology integration will be in determining how the real estate industry develops in the future. Our Multinational Enterprise is dedicated to implementing the latest technology into all aspects of our business, welcoming all of the latest advancements. The digitalization of our services is one important area of attention. We are making investments in digital tools and user-friendly online platforms that make property viewings and transactions easier. This not only conforms with international market trends, but it also meets the needs of modern buyers who look for effectiveness and ease in their real estate transactions. Furthermore, Nihon Global Estates Corporation is researching how cutting-edge technologies like virtual reality and augmented reality can completely change how customers engage with our properties. Our goal is to push the limits of traditional property tours and give potential buyers more enjoyable and informative experiences. Technology is integrated into our multinational enterprise's operational processes as well as improving interacting with customers. Advanced data analytics and artificial intelligence systems are being implemented to obtain important insights into customer preferences, market trends, and operational efficiencies. Through the use of data, we can remain ahead of the curve in the quickly changing industry of real estate and make well-informed decisions and strategy optimizations. 9 | P a g e

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Cultural Variations and the Corporate World Success in this market depends on having a thorough understanding of the cultural differences involved in Japanese real estate transactions. In Japanese commercial operations, the Internal Report emphasizes the value of relationships and hierarchical systems. Nihon Global Estates Corporation is ideally positioned to incorporate these cultural factors into its business plan with this understanding. Our strategy places a focus on building trusting relationships, honouring regional traditions, and adjusting to the Japanese style of negotiations. Our MNE aims to surpass the expectations of its Japanese customers by integrating these components into our operating structure, thereby laying the groundwork for long-lasting collaborations. Our MNE is in a strategic position to incorporate these insights into its business plan because it understands the significance of cultural nuances in Japanese real estate transactions. It is critical to comprehend the importance of relationships and the hierarchical structures that are common in Japanese companies, as stated in the Internal Report. Building trusting relationships with regional partners, honouring cultural traditions, and modifying our approach to better fit the Japanese corporate culture are all part of our strategy. By taking these cultural factors into account, our Multi- National Enterprise hopes to build confidence and trust in the Japanese real estate industry, which will pave the way for future successful partnerships and endeavours. 10 | P a g e

Recommendation and Conclusion Our Multi-National Enterprise Nihon Global Estates Corporation must place a high value on cultural sensitivity when conducting business in Japan's real estate market. We stress the importance of building connections and consensus-oriented decision-making, which are important to Japanese business culture. Our MNE needs to emphasize how crucial it is to adapt strategies to comply with regional laws and preferences, especially considering the specifics of the Japanese real estate industry. Our Multi-National Enterprise should also actively participate in industry events, make use of local knowledge, and uphold a commitment to moral corporate conduct. Our Multi-National Enterprise could position itself for success in this ever-changing and profitable industry by building strong relationships, understanding cultural differences, and adjusting to the dynamics of the Japanese real estate industry. In conclusion, our colleagues at Nihon Global Estates Corporation can use this internal report as a reference while navigating the complex world of international business in Japan's real estate industry. With a strategic focus on building connections, cultural sensitivity, and a deep understanding of the Japanese business landscape, Nihon Global Estates Corporation's activities in Japan's real estate market are well-positioned for success. Through the adoption of moral leadership values, respect for regional traditions, and modification of our strategies to suit the specifics of the Japanese property industry, we set ourselves up for long-term success and positive impact. 11 | P a g e

References  Chowles, Bradley (2019) Cross-Cultural Negotiations: Red Bear Negotiation Company, Cross Cultural Negotiations | RED BEAR Negotiation Company . Available at: https://www.redbearnegotiation.com/blog/why-cross-cultural-negotiation (Accessed: 23 October 2023).  Melbourne, U. of (2023) Japan: Business practices, Business practices in Japan - Santandertrade.com . Available at: https://santandertrade.com/en/portal/establish- overseas/japan/business-practices (Accessed: 23 October 2023).  Santander, B. (2023) Japan: Business practices, Business practices in Japan - Santandertrade.com . Available at: https://santandertrade.com/en/portal/establish- overseas/japan/business-practices (Accessed: 23 October 2023).  Support, J. (2022) Data: Investment Opportunities in Japan’s regions - investing in Japan - Japan external trade organisation . Available at: https://www.jetro.go.jp/en/invest/region/data/tokyo.html (Accessed: 23 October 2023). 12 | P a g e

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Individual Assignment[1]

Related Documents