SU LISTYA NDA RI FA CU LTY OF ECONOM IC A ND B U SINESS U NSOED Session 2. Legal, Technological, Accounting, Political Environments and the Role of Culture International Business
Objectives Describe the major types of legal systems confronting international business Explain how does domestic laws affect the ability of firms to conduct international business Describe the impact of the host country’s technological environment of international business Identify the factors that influence national accounting systems
Discuss the primary characteristicc of culture Describe the elements of culture Explain how cultural conflicts may arise in international business
The Legal Environment Differences in Legal Systems ; national legal systems vary dramatically for historical, cultural, political and religious reasons. The rule of law, the role of lawyers, the burden of proof, the right to judicial review, and of course, the laws themselves differ from country to country. International Business
International businesspeople must be aware of these general differences in legal systems to avoid costly misunderstandings. They should also rely on the expertise of local lawyers in each country in which they operate to help them comply with the specific requirements of local laws and to counsel them on substantive differences in due process, legal liabilities, and procedural safeguards.
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- Fall '12