Intercultural managerial communications Term Paper

Intercultural managerial communications - Term Paper Example The study at hand discusses the topic of intercultural managerial communications. In order to elaborate upon the subject, it will include discussions on intercultural myths, how people differ culturally, language and non-verbal sensitivity. It sets out to demonstrate the importance of managers gaining knowledge of various business cultures around the world so they can manage from a global perspective. Without knowing the culture of a place, it would be hard for one to engage in meaningful ventures. Language is a tool for people to communicate their thoughts and non-verbal sensitivity specifically how people decode or perceive the behavior of others, be it with those they have specific relationships with or not. Various cultures have different modes of communication even within their own subculture. It is of utmost importance for business professionals to be sensitive to the different cultures within the regions they operate to successfully communicate in other cultures. Intercultural Managerial Communications The communication in an organization or workplace is described as the conveying of messages with the help of a proper channel and medium to the desired receiver. According to the social constructionist approach, the communication in an organization pertains to the manner in which the use of language establishes various types of social structures, which may include teams, relationships, and networks. Managerial communication also refers to the related aspects of the organizational communication. It is an activity which assists the managers in communicating with the employees as well as amongst each other in the organization. The Managerial Communication facilitates in providing an even flow of information amongst them which directs them towards a mutual goal. Culture Culture is an amassed system of values, rules, norms, experiences and concrete behavior which man adapts from descending generations and aims at passing forward to ascending generations (Nakaya ma and Halualani 2011). In organizations, the word culture reflects on the business practices and the way of doing things. Business professionals have to learn the different business cultures before doing business in various markets so they can minimize the risk of business failure. Obtaining knowledge about different styles of communication, forms of body language, dressing, greetings, negotiation techniques and meeting approaches is vital in gaining successful business relations with like-minded people. Successful leadership engages the subject of intercultural managerial communication through discussing the branches of culture, intercultural myths, how people’s perceptions differ, language, and non-verbal sensitivities. People differ culturally in various ways such as voice pitch, words used, accents and nonverbal communication i.e. body language. In addition, within the cultures, there is a contrast in how people communicate. Certain actions may be acceptable within some cultures and not applicable in others. There are things that one can do in their culture and if they did the same in other cultures, they may be perceived as being undisciplined or offensive. There are also things that one can omit in some cultures and, therefore be perceived as rude in other cultures. For example, people must be sensitive to the different forms of greetings as they travel from one culture to another. Thus, many business profession

Capital Budgeting PROJECT ANALYSIS Essay Example | Topics and Well Written Essays - 1000 words

Capital Budgeting PROJECT ANALYSIS - Essay Example The company’s target market will be the students and friends of the college. The students will be offered the skis at a discounted rate of $250, and the outsiders will purchase the skis at $600. Since the project will be generating revenue, there will be no need of finding other means of funding as the project’s operations are anticipated to generate enough revenue that will be ploughed back as a means of funding. The project was selected for the following reasons: First, project will be beneficial to college in terms of learning and management to the students because they will be exposed to a real-time work environment. The students of Westminster will use the company for their internships where they will be in a position to learn various management and production skills. The company is anticipated to have a stable management that will perform efficiently and effectively because of support and supervision that will be offered by the College’s Centre for Entrepre neurs and the Company’s Board of Directors. If the project is successful, it will benefit the college first, in terms of revenue generation and second, as part of the college the capital invested back into the business will subsequently also increase the asset value of the college. A careful analysis was carried out to inspect the viability of the project in terms of revenue generation, costs, payback, depreciation, rate of returns, and the projects net present value. Initial costs First, an assessment of the costs and commitments that the project will undertake will be as follows. In acquiring the company, the College will incur Total Capital Cost of $ 15,200.35. This amount is inclusive of the equipment and material cost of $15,000 that are required for the continuation of business. The equipment is valued at current market value, and it includes a $2,400 purchase order contract. The costs also involve the total transportation costs of $200, which will be employed in the mo ving truck and labor transport costs. The estimated costs for a single product are computed inclusive of all necessary materials and it is found that for each product to be manufactured the company will be spending $108. The company additionally spends an extra $100 for maintenance purposes. Labor costs have been computed as part of the company’s operating costs, and it is estimated for every three students working for the company, 10 hours a day at a rate of $8 will be costing the company a total of $240 dollars or simply $80 dollars each. Depreciation Factoring depreciation into the investment, it estimated that for the initial investment value to have a fair value of $0, it would take approximately 8 years. The company experiences a sharp depreciation in the second year because this is the estimated time when most of the initial investment materials will be depleted. Cash flow A budget analysis for the company is carried for the first eight years when it is estimated that the fair value of investment will be zero. For the eight years, the company is estimating to have minimum revenue of $10,800. The revenue is generated through a customer base comprising of students and friends of the college who will be buying the skis on a year basis. The students are estimated to buy the skis at a price of $400. The price is discounted because the students are also involved in the manufacturing process. The outsiders will be buying the skis at $600. The estimated revenues the company will