Assignment 2 – Cultural Differences

To: Sanjiv

Subject: New Deal

Dear Sanjiv,

From the outset, I express my utmost appreciation for the solid business relationship we have built and maintained over the years. I genuinely appreciate your tremendous support. I value our ongoing collaboration and look forward to a continued positive relationship. In light of the recent meeting and discussions, I am confident and pleased to finalize the new deal with you: Assignment 2 – Cultural Differences.

Without an iota of doubt, I understand your insistence that we finalize the deal via a handshake agreement (Schroeder et al., 2019). You have proved to be a reliable business partner, having been a strict stickler to the principle of trust that is deeply rooted in your South Asian culture.

However, I wish to express my reservations concerning the upcoming deal. This specific contract is worth millions, and my company requires legally binding agreements; hence, a gentleman’s agreement through a handshake cannot suffice.

Being an international deal, my company has clear guidelines in place designed to avert associated risks. In particular, the risk policy in the company I work for demands that we anticipate breaches in all deals we engage in. To that end, there is an emphasis on clauses that protect the interests of all parties.

Besides, failure to ensure there is a clear paper trail may expose my company to administrative challenges. As you are aware, the company I work with undertakes multiple transactions with other international companies. In case an issue arises with any of our international partners, authorities and stakeholders may demand an audit, which can only be backed up with paper evidence.

You see how it can be messy if there is no paper evidence, even for a single deal. Such scrutiny is deeply embedded in my culture. Therefore, to avert legal challenges and ensure stakeholder confidence, I kindly request that we finalize this new deal with proper documents, all fully signed. Subsequently, we can do our handshake as a symbol of our continued trust at a personal level. Thank you for understanding.

Sincerely,

Signed.

References

Schroeder, J., Risen, J. L., Gino, F., & Norton, M. I. (2019). Handshaking promotes deal-making by signaling cooperative intent. Journal of Personality and Social Psychology, 116(5), 743–768. https://doi.org/10.1037/pspi0000157

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Learning about other cultures is essential to doing business globally. What might be considered the ‘norm’ in one culture may not be considered the same in another culture.

Your business deal with Sanjiv, a South Asian executive, has been proven to be difficult because of cultural differences. Sanjiv insists on dealing on a handshake and not bothering with detailed paperwork and legal processes. You, on the other hand, feel uncomfortable entering into a multi-million-dollar deal just on a handshake even after years of positive dealings with Sanjiv. Write Sanjiv an e-mail to resolve this issue while maintaining cultural sensitivity and respect.

Assignment 2 – Cultural Differences