Cultural Activities in Denmark and International Business - Coursework Example

? Business Contents Contents 2 General information on the size and structure of the economy statistics 3 Cultural Stereotyping in Denmark and Impact on International Trade 3 Music Industries in Denmark and International Business 6 Sporting Activities in Denmark and International Business 7 References 10 General information on the size and structure of the economy statistics The Gross Domestic Product during the 2010 period is estimated around $10.3 billion. The annual growth rate of the income level in the region measured in real terms comes around 2.1 percent. Further the Gross Domestic Product of the country measured in terms of per capita basis comes around $58,500. Export transactions in the country measured along the 2010 period resulted in revenue amounting to around $96.744 billion. The export commodities are constituted of manufactured products that amount to around 73 percent of the total exports. Again the agricultural commodities and other products constitute around 19 percent of the total exports. Agricultural products constituted around 18.7 percent of the export revenues. Similarly the imports pertaining to the region in the 2010 period amounted to around $84.409 billion. Commodities like raw materials and semi-manufactured commodities constitute around 37.4 percent of the total imports while consumer products and capital goods constitute around 18 percent and 21.7 percent respectively. The major countries that carry out the export and import transactions with Denmark are like Germany, Sweden, United Kingdom, Norway, and Holland in common while countries like China and United States only carry out the import activities with Denmark (U.S. Department of State, 2011). Cultural Stereotyping in Denmark and Impact on International Trade The economy of Dutch is found to largely depend on the activities of international trade conducted with different countries round the world significantly in the fields of import and export activities. The Dutch economy becomes highly dependent on countries like Germany for largely exporting the food products and other manufacturing products and similar materials. Dependency of Denmark over the German economy has risen to such extent that it has become evident that Denmark would fail to exist without the help obtained in from the German Republic. It is held that increasing dominance of Germany in Denmark’s international trade and tourism activities would lead to bolster a sense of inferiority and thereby threatens to usurp its cultural heritage. This fear of losing their own cultural heritage makes the people of Denmark bolster up their confidence in setting of stereotyped national cultures. Cultural stereotyping is considered as an important tool by the Dutch people in order to save their conditions from being largely invaded by the German culture (Renckstorf, 2004, p.347). The cultural parameters in Denmark pertaining to the dress codes are viewed to be quite casual in nature. Casual dresses in Denmark reflect less focus rendered on wearing any kind of formal suit. However this type of stereotyping method in regards to the dress codes often earns conflict in times when the person proceeds to work in a trade environment dealing basically with international trade activities. Therein the people are required to follow a certain formal dress code and thus to abstain from wearing casual wear in the office or working hours. Henceforth the people and cultural parameters of Denmark need to become much flexible in order to rightly embrace the internationalisation of trade activities in the region. Again the people of Denmark also regard or give importance in maintaining adequate distance when communicating with someone. The people regard maintaining a distance of an arm or two when talking with people. This type of a culture developed among the people also depicts a stereotype nature of maintaining relationships with the people either pertaining to domestic or international regions. This type of stereotyping activity reflected by the people of Denmark regards them as being backward drawn and thereby fails to meet the international standards of communicating and dress codes. Again another culture stereotyping is considered in regards to the summer months that are considered as leisure time for the individuals in that country. Thus the people of Denmark feel that no such important trade or official activities must be considered for conduct during such periods. The summer months are spent by the people of the country mainly in leisure resorts and thus the time is increasingly cut out by the people away from important business activities to use for such purposes (Levine, 2004, p.117). In another cultural issue it is found that the business environment of Denmark turns quite favourable enough for helping women folk to gain ascension to business activities. The environment of the country as well as the legislative climate proves favourable for the helping women to take part in trade activities both in the domestic and as well as in the international sector. This fact also bears resemblance to many developing countries like that of China and Fiji where the women are made bound to enter into employment to help earn revenue for the family. However in that it is found that the economic climate and trade environment of the country is just not enough to help the women in their endeavour. Still countries like China in their trade relations with Denmark can increasingly find commonality in regards to women working or managing businesses. Thus this cultural issue is considered to help in the enhanced fostering of international business relationships of Denmark, a developed economy with other undeveloped economies like China and Fiji. Henceforth business companies operating based in China and employing a large section of women thus tends to get increased space in its operational and trade relationships with Denmark (Fielden, 2010, p.6-7). The above stated are the cultural factors of the Denmark region that tend to significantly impact the relationship with companies endeavouring to build up international business relationships with the firms existing in Denmark pertaining to related sectors. Music Industries in Denmark and International Business The region of Denmark focuses on the growth of music industry mostly popular ones like pop music, different bands, rock and other forms of electronic music. The music industry tends to encourage the growth of talents in that sector through the boosting of different cultural fairs that in turn help in the enhancement of the careers of such music players in the international market. Different venues are fixed either on the roads or in other theatres where musical participants are invited from around the globe like that of Scandinavian countries to come and increasingly participate in such activities. This fact helps in enhancing the internationalisation activities related to the music industry in Denmark. Other than inviting participants to participate only in the playing of music in the Denmark region the country also tends to welcome different participants and knowledge owners of music industry to come and share their views. Thus separate discussion panels are held in the musical fairs in the region where the participants from different regions invited not only render potential discussion elements but also hold debates triggering the interest of the participants to gain entry into foreign markets. The holding of debates and discussions is taken to help the participants to understand many international music markets like United States and the manner in which they can work to gain an entry into such regions. Moreover the debates and discussions held also help in the production and efficient marketing of different albums pertaining to the music performances conducted in the region. The culture of the region is as such that helps in the inviting of foreign audiences through the holding of separate camps and other music fairs in the region. The above fact thus clearly shows how the music industry in Denmark tends to internationalise its activities along the global market place (MobileReference, 2007). The international market also proves to be a potential zone for helping Denmark gain a large amount of revenues. It is found that in the 2000 period that around 65 percent of the total sales pertaining to the music industry comes from the international arena while only 30 percent of the sales stream from the domestic sector. Moreover the sales of records in the United States market has increased from $44.2 million measured during 1992 to around $96.7 million during the 1999 period. The sales pertaining to the same also recorded a dramatic rise from the 2000 to the 2005 period thus helping in the gaining of potential revenues in regards to the music produced in the region of Denmark. In terms of international retailing for music the music industry pertaining to Denmark reached a rank of twentieth in comparison to other foreign music industries. This music industry of Denmark also gains the status of being one of the largest employers of several musicians that happen to grow and rise in their international carriers through the endeavours taken by the local region in the production of international videos. Internationalisation of Danish music activities has gained further impetus through the enhancement of the retail arms aimed at designing three different types of stores like the speciality stores, larger supermarkets focusing on the development of musical bands and other retail chains that helped in the enhancement of music industry in the region. This development of the retail industry pertaining to the music sector in Denmark helps in the large scale enhancement of both revenues and markets pertaining to the music industry on a global scale (Henry, 2007, p.40-41). Sporting Activities in Denmark and International Business Sporting activities tend to increasingly dominate the cultural factor of Denmark as large number of players both from the local and international market increasingly tend to participate in the sporting events held in the sector. To this end, it is found that the region largely populated by the growth of sporting clubs that increasingly dominate the region to hold different types of events pertaining to sports. Different types of sporting activities are carried out in the region to help in the growth of both normal and elite sporting activities like golf and others. Moreover the sporting activities and events in the region also help in the growth of large scale employment and revenues in the region and thus is highly encouraged by the government of Denmark through effective marketing and financing activities. The sporting activities of the region also gain a huge dominance owing to the large scale advertising and promotional activities carried out in the country to reflect the different sporting events that are being held in the country. Aired on the television and other types of audio and visual media the country works to expand its sporting endeavours to help invite people from other countries. The increasing dominance of sporting activities in the region has also helped the region to largely welcome different sport equipment companies and other international sport brands to largely enter and set up their outlets and branches in the sector. This entrance of different branded sporting companies in the region of Denmark hells the region to gain largely on its revenue grounds and also paves the way for its gaining an international market. Drawing a comparison to the sporting activities and revenue earned through such among eight European Union countries it is found that the region of Denmark stands the first. The revenue pertaining to sporting events in the country also records a potential rise in comparison to the periods ranging from 1995 which when compared to the rise in the revenues emanating from the retail markets amounts to double. This fact thus clearly shows the increasing dominance of the sporting industry in the region of Denmark and how it contributes to the economical growth of the region. A further study shows that apart from the growth of the retail markets specialising on sport products the region also reflects a rise in large amount of revenues emanating from the different contracts held by the local stadiums and the local sports persons in participating in international sporting events. The revenues emanating from sponsorship activities is estimated to have risen by around 12.9 percent on a year to year basis ranging from the period 1994 to the 2001 period. Moreover during the same period along with the rise in sponsorship revenues the advertising activities also reflects a huge growth of revenues of around 3.8 percent on a year to year basis. The above data reflects that the culture of Denmark possessing an extended relationship to sporting events greatly works in enhancing the scope of international business in the country (Government, 2003, p.20-21). Focusing on the above discussion it is also observed that the enhanced growth of the sporting events in the region of Denmark also tend to largely integrate itself with the tourism activities pertaining to the region. Sporting activities like different types of cycle, golf, football, sailing and swimming events held in the region on different occasions can be increasingly related to the tourism activities. This helps in the welcoming of different tourists from different countries to visit the region and take part in such sporting occasions. Tourism activities encouraged in relation to the sporting events held in the region thereby help in the enhancement of revenues pertaining to the region and thus help in the growth of national and domestic income. The growth of the sporting events held in the country are largely publicised through the use of internet mediums and other media usages that help in the emancipation of the culture pertaining to Denmark to the international sector. Moreover the use of internet helps in the designing of websites that not only reflects the culture of the nation of Denmark but also helps in welcoming international tourists from different regions to participate in the sporting events (Bowdin, 2010, p.135-136). References Bowdin, G. (2010). Events Management. Routledge. Fielden, S. (2010). International Research Handbook on Successful Women Entrepreneurs. Edward Elgar Publishing. Government. (2003). Denmark in the Culture and Experience Economy— 5 new steps. [Pdf]. Available At: http://www.culturalplanning-oresund.net/PDF_activities/experience_economy.pdf. [Accessed at 13th January, 2012]. Henry, C. (2007). Entrepreneurship in the creative industries: an international perspective. Edward Elgar Publishing. Levine, M. (2004). International Real Estate: A Comparative Approach. Dearborn Real Estate. MobileReference. (2007). Travel Denmark - Illustrated City Guide, Phrasebook, and Maps for Mobile Devices. MobileReference. Renckstorf, K. (2004). Action theory and communication research: recent developments in Europe. Walter de Gruyter. U.S. Department of State. (2011). Denmark. [Online]. Available At: http://www.state.gov/r/pa/ei/bgn/3167.htm. [Accessed on 13th January, 2012]. Read More