In recent years, globalised commerce among countries has greatly advanced since the last century, which means that business activities have certain effects on other merged companies. A majority of society believes that boosting cultural trading and contact with global business has beneficial results on the business’s performance, while others conclude that it leads to the loss of national identity, which is the priority goal of the business.
On the one hand, encouraging cultural communication within the business offers significant merits. Firstly, it expands the market or the scope of influence, which makes the business appear more frequentfrequently all around the world. As a result, their business is exposed to more potential customers or investors. Once their business shows great potential for high returns, they can call for a great amount of investment into the business’s cash flows. For instance, VinFast, a well-known electric car retailer in Vietnam, only gets the returns of approximately fifty million dollars per year. Although they are a dominant environmentally friendly car retailer in Vietnam, their sales cannot rise too high, as most citizens there are categorised in the middle class; therefore, not too many people are wealthy enough to have a car. LastIn the last two years, the United States of America has started importing VinFast cars into their market, and VinFast sales have doubled. In addition, more globalised commerce can benefit governments a lot. As a successful business increases its cultural trading activities, it can improve its overall reputation. For example, as VinFast becomes more significant in the market, the US market may consider Vietnam as a developing country, with which they want to cooperate long term cooperate in the future.
On the other hand, over-imported techniques may lead to the loss of national identity, which can hugely affect the citizens’ patriotism. Firstly, there may be some other countries that want to invade others by introducing their products into the market, and trying to make their goods a dominant good. Once the whole country is dependent on a single supplier, that supplier can start imposing huge taxes and policies. Day by day, the country may lose theirits unique identity and completely depend on other countries. Moreover, some businesses that started expanding their market to other countries may notice a noticeable barrier, which is cultural misunderstanding. For example, each country has a different traditional culture; therefore, even a small mistake made by a company that affect or damagedamages the national culture. Itculture, it can be discriminated against and experiencedexperience failure there. Subsequently, it affects the overall finances of the business as the failure of a small branch of the company may cause certain damage to the host company.
To conclude, I believe that cultural trading activities may play an important role as businesses want to expand their influence or market, which helps them to increase customer attractiveness. Although it helps improve the overall business performance, the company should determine what should be absorbed and what should not be imported, which means that the imported goods should be selected carefully to ensure that they can still enhance their performance and keep their cultures unique simultaneously.