Topic: When a firm participates in business in the X market which has Y beliefs, what

should each company in this area pay attention to?

● Islam - Iran
Some characteristics and requirements of Islam:
- Contracts should be fair to all parties. Partnership is preferred over hierarchical
claims.
- Speculation is prohibited. "They don't like gambling," said Hayes. "For
instance, if you invested in an Islamic mutual fund, among those industries
which would be barred from representation as funds would be the gambling
industry. But gambling also relates to futures; it relates to currency hedging; so
it's a major situation that you have to be aware of."
- Interest is prohibited. "This is the probably the thing that is most often
identified with Islamic finance. Back in the time of the prophet Mohammed,
some of the most rapacious individuals were the moneylenders; and so as a
response to the things that these moneylenders did which were so
reprehensible, part of the religious belief is that you do not charge interest or
accept interest. Now, of course, that isn't always practiced, but it is the theory."
- Compassion is required when a business is in trouble. "In any country that has
Islamic influences in its legal structure, if somebody is in bankruptcy or if
somebody is experiencing financial reversals, you can't put pressure on them,
because that is not an appropriate thing to do when somebody is down. You
don't kick them when they're down," said Hayes.
● Christianity - USA
Some characteristics and requirements of Christianity that a firm should follow up
when participated in USA region:
- Moral leadership: With a focus on serving, supporting, and building up others
rather than pulling rank or holding office over others, your contribution is
characterized by a deep sense of ethics and your vision of a higher purpose.
Those who are affiliated with you know without doubt that you put the good of
the group before self-interest.
- Others are happy to be led by you because they sense and trust your personal
integrity, which comes from Jesus’ teachings. You always choose what is right
over what is convenient or easy. You consistently demonstrate clear vision,
perceptive foresight, and balanced wisdom when making decisions that involve
other people or your company’s future.
- Community building: You’ll learn the vital role that teambuilding plays in
effective leadership and how to create a culture of compassion and mutual
support in your company. Studies in effective communications and
organizational dynamics provide insight on why people act the way they do and
help you identify methods that can improve the behavior and attitudes of
organizational members. Exercises in group problem-solving sharpen your
leadership skills.
- Motivating others: One of your biggest roles and privileges as a leader is to
support others in reaching desired goals and actualizing talents and gifts. In an
interview with The New York Times, Douglas A. Hicks, author of “Religion
and the Workplace,” states that Christians must focus on how business affects
people, especially the employees. Do they have meaningful, well-paid work
that inspires them, or is it mind-numbing, low-paid drudgery?
- “Are people able to live out their own agency by making a contribution in the
workplace?” Hicks asks, in keeping with 1 Peter 4:10 NIV: “Each of you
should use whatever gift you have received to serve others, as faithful stewards
of God’s grace in its various forms.”
- Principles of negotiation: By exploring the basic theoretical models of
bargaining, handling conflict, mediation, and consensus-building, you’ll be
prepared to interact ethically and fairly with vendors, competitors, and
customers
● Hinduism - India
- India is a vast country with a long and extremely unique culture. The unique
culture and beliefs are reflected in the fact that this country has many main
religions such as Hinduism, Islam, Sikhism, Christianity, and Buddhism,...and
Hinduism has the highest proportion with more than 80% of people in this
 country following this religion. Beliefs and religions are some of the important
things that a business needs to focus on when wanting to penetrate and develop
in a national market. In this article, we will analyze the effects of Hinduism on
the Indian economic market that a company needs to pay attention to in order
to develop.
- Mahatma Gandhi, a famous spiritual leader in India, is clearly the embodiment
of Hindu asceticism. "Simplicity, or minimalist lifestyle, is the most
outstanding characteristic that sets Gandhi apart from other world leaders. He
lived, talked and acted with sincerity. While Many public figures believe that a
sharp appearance is important, Gandhi proudly wears the traditional white
dhoti" => product designs (time, household appliances,...) will not be elaborate
But the effectiveness of the products is still guaranteed to be good.
- Hinduism is the majority religion, and advocates for India's caste system, so the
view of the caste system still greatly influences people's thinking. In Hinduism,
people believe they have a tendency to focus on spirituality rather than material
things. Therefore, as a business participating in this market, it is necessary to
pay attention to focusing on product development based on spiritual
perspectives of religion.
● Buddhism - VietNam
Requirements:
Suffering originates in people’s desire for pleasure. Stress spiritual growth and
the afterlife, rather than achievement while in this world Buddhism does not
support the caste system, so individuals do have some mobility and can work
with individuals from different classes
Responses:
The tangible and intangible values ​attached to religious institutions and works
in Vietnam are pagodas, holy buildings and religious cultural works associated
with relics, which are the target objects of the project Spiritual cultural tourism
in Vietnam is associated with the belief of worshiping, appreciating, and
repaying gratitude to national heroes and predecessors who have contributed to
the country and nation (Thanh Hoang), becoming tourism to the roots. A nation
with the principle that when you drink water, remember its source. Because
Buddhism does not support the caste system, corporate strategies do not focus
on promoting a certain class of society. For example: Luxury restaurants only
serve the upper class of society, but not the working class.