Anam Electronics Module_Global Department 3 by 라민우

Brazil's diverse culture is influenced by indigenous, European, and African cultures, while Chile has a more homogenous culture with a strong European influence.

M&A with Chile would require a nuanced approach. Recognizing differences to time perceptions would be crucial. Additionally, the European influence in Chile will help create strategies tailored to each country. Culturally sensitive leadership and effective communication strategies will be necessary for the success of the integration.

Main Differences Between Korea and Chile

jjup3723 — 2023-12-04 03:19:44 UTC

Communication Style: Korea has a careful and indirect communication style while Chilean communication is more directly spoken.
Time perception: Chile workers pose a more relaxed approach to time or due dates whereas Korea emphasizes punctuality and efficiency.

inkwonp32 — 2023-12-04 03:20:13 UTC

I looked up the difference between Korea and Brazil, and the concept of 'Brazil Cost' is said to be difficult for Korean companies to enter the Brazilian market. Brazil Cost is mean that Korean companies face a lot of difficulties to 'composite tax systems', 'customs and customers policies', 'exchange rate instability', 'inefficient bureaucracy', and 'employment and labor management'. So I think it quite hard for Anam electronics to enter brazilian market.

inkwonp32 — 2023-12-04 03:20:50 UTC

In Chile, Korea's perception is good due to the Korean culture, but media reports make Korea look negative. I think the media has a great influence in Chile, but if Anam Electronics enters Chile, I think it should try not to look negative to the Chilean media.

Hofstede's culture model

inkwonp32 — 2023-12-04 03:24:19 UTC

Main Differences Between Korea and Brazil

mkhpwj1 — 2023-12-04 03:37:33 UTC

1. Relationship Building:

In Brazil, building strong personal relationships is often considered essential for business success. Koreans may find it challenging to establish these relationships quickly, as Korean business culture tends to be more formal and hierarchical.

2. Business Etiquette:

Korean business culture is known for its formality and respect for hierarchy. Brazilian business culture, on the other hand, is often more informal and emphasizes a friendly approach. Adapting to Brazilian business etiquette, which may involve more informal interactions, is important.

3. Diverse consumers:

Brazil has a unique market with diverse consumer behaviors and preferences. Korean companies may face challenges in understanding and adapting their products or services to meet the specific needs of Brazilian consumers.

(Diversity comes from Ethnic and Racial Diversity, Geographic variation, Income equality, Colonial legacy, etc..)

+)Hard to consider Brazilian Cost

1. Complicated Tax System: Without a free trade agreement, Brazil imposes high taxes and tariffs on imported goods and services coming from the other markets. In addition to high taxes, the system is incredibly complex, and in 2020, it ranked 184 out of 190 countries in terms of ease of paying taxes according to The World Bank’s Doing Business report.

2. Non-transparent Public Procurement Processes: Government tenders often favor domestic players due to local content requirements and high levels of corruption. While the Government of Brazil is the largest buyer of goods and services in Brazil, navigating the government procurement process can prove challenging if firms are not equipped with the proper contacts and information.

mkhpwj1 — 2023-12-04 03:39:58 UTC

1) Brazil is mostly an extended family, placing great importance on family bonds, while Korea places greater importance on individual satisfaction because the ratio of nuclear families and individual living people is very high.

2) Unlike Brazil, Chile has the western culture’s family structure. So, Chile has the similar family constructure with us. Chile is the longest country in length. So, Chile has the various climate compared to us. This difference will connect to the difference in demand at every regions.

CHILE (Unanimous Vote)

laminoo — 2023-12-04 03:41:20 UTC

Acquisition of Chilean company was viewed as a superior choice based on corporate, general cultural, economic, market, and PMI criteria.

Project Planning and Division of Labour

laminoo — 2023-12-04 03:55:00 UTC

What to prepare before the Interdepartmental Meeting

~~Divide the workload in accordance to the academic stress level of the Final Exam~~
Roles
1. Presenter for group discussion 2 - 라민우
2. Presenters for the final presentation - 서우진, 라민우
3. Content and Materials + Research -
  박주현 (Aspects of Chile)
  박중현 (PMI Alignment)
  서우진 (Aspects of Brazil)
  라민우 (Candidate Decision & Rationale Compilation)
Focus of Wednesday's meeting: departmental decision and rationale derived through various cultural aspects and solid PMI.
If the candidate aligned (i.e., when Finance department also chose Chile), the departments cooperate to validate the choice through corporate valuation, and cultural integration; while reviewing and agreeing on individual steps of PMI.
If the candidates diverged, the departments debate to assert which value is more important to a successful merger; then agreeing on a final decision, PMI strategies and rationale.
With additional research as necessary, construction of final presentation material, with works from both departments (Finance: value estimation figures, Global: cultural synergies and integration)

Context Summary

laminoo — 2023-12-04 04:04:01 UTC

The last module deviated from the previous scenarios where corporations fight for their own survival in intense market competition. Anam Electronics being a home entertainment and home appliance manufacturer of considerable size (132 subsidiaries, more than 70,000 employees local and abroad), intends to foray into the South American market via acquisition of one of the two companies (Brazilian and Chilean), valued at $8 and $8.9 millions each. However, with Finance Department citing corporate valuation as the most important aspect to consider for a successful merger, Global Team chose to differ, claiming that cultural differences are a notable part of the success of an M&A which is to be sustained by management and marketing purposes in a different cultural environment, exemplified through Yonhee Electronics. Final decision (candidate, rationale, and respective analyses) has to be taken up to the Board meeting, amidst several intangible factors such as Market Uncertainty and Large Departmental Conflict.

Why it is hard to enter the Brazil Market

mkhpwj1 — 2023-12-04 04:09:07 UTC

https://www.tmf-group.com/en/news-insights/articles/top-challenges/doing-business-in-brazil/

mkhpwj1 — 2023-12-04 04:25:43 UTC

Announcement of Cultural Differences with Chile and Brazil, which have been investigated respectively

(Focusing on corporate culture, consumer culture, regulations of each country, etc.)

Selection of countries based on analysis content.
Research divided into cultural research part, PMI part, Chile selection reason part, etc
Writing a padlet