PRESS RELEASE
IFIMES director panelist at the 6th regional Business Plus business conference
LJUBLJANA / SKOPJE, October 2, 2015 - Director of the International Institute for Middle-East and Balkan Studies (IFIMES) Zijad Bećirović appeared as a panellist in Skopje, at the 6th Business Plus Regional Business Conference on the panel "Options for business in new markets - how to achieve it together."
Director Bećirović stressed the importance of in-depth emulation of culture (cultural due diligence) in business. Usually, businessmen make use of due diligence, which relates to financial and other numerous indicators, neglecting the influence, knowledge and understanding of different cultures for businesses in new markets and countries. Fostering relations and cooperation between the various countries of the world does not mean that cultural differences are reduced, or that they are disappearing. On the contrary, disappearing economic borders are increasing cultural boundaries, which create new challenges and opportunities in business. In fact, it appears that mutual cooperation and rising interdependence among the different countries reinforces cultural differences. Today it is important more than ever to understand the different cultures and their influence on the way we do business, and on our outlook at the world. Costs of cultural misunderstandings are becoming larger and larger.
The discussion emphasized the fact that companies from the region need to undertake coordinated joint actions, and also require more substantive support of their countries in order to appear on third markets.
Ljubljana/Skopje, October 2, 2015
