Gift giving is a great way to display appreciation for business relationships but the process can be complex. Because the manner in which it is done varies from country to country, what is deemed appropriate in one may be the reverse in others. Understanding the perceptions different cultures have on gift giving is important. For example, several Asian cultures associate the colors black, white, and blue with misfortune hence gifts should not be wrapped in such colors. Also if the gesture is exercised in an incorrect manner, the recipient will likely be offended possibly hindering the business endeavor. Concerned with corruption, gift giving may constitute bribery thus some multinational corporations and governments have strict policies regarding the distribution and acceptance of gifts. To avoid being in a predicament, be aware of the guidelines that exist for both the company and country the business is conducted in. In essence, be attentive to little details because what may appear insignificant can be detrimental if overlooked.
Written by Trisha Le, Research Intern for GLOBAL ID, LLC.
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