Lecture Notes on Cultural Understanding in International Business

Introduction

• Importance of local knowledge in international business.
• HSBC's slogan: "The world’s local bank."

Cultural Differences in Symbols and Meanings

• Chrysanthemums in Italy
  • Associated with funerals and sadness.

HSBC's Global Reach

• Operations in 64 countries and territories.
• The importance of understanding local customs and practices.

Commuting Etiquette

• Asia: Acceptable for a commuter to sleep on the shoulder of a stranger.
• New York: Different social norms regarding personal space.

Dining Etiquette

• English Culture: Clearing your plate is respectful; not doing so can be seen as a slur on the host.
• Chinese Culture: Leaving food on the plate may imply questioning the host's generosity.

Golf Traditions

• USA: If you get a hole-in-one, expected to buy drinks for all.
• Japan: Tradition of gifting expensive items to playing partners.

Conclusion

• Importance of cultural nuances in international business.
• HSBC's commitment to local expertise with staff in over 80 countries.