BACHELOR OF MANAGEMENT WITH HONORS

SEPT 2021

BBNG 3103

INTERNATIONAL BUSINESS

MATRICULATION NO : 880703525806002

IDENTITY CARD NO. : 880703525806

TELEPHONE NO. : 0109684794

E-MAIL : ctzubaidah88@oum.edu.my

LEARNING CENTRE : MIRI LEARNING CENTRE

 INTERNATIONAL BUSINESS/BBNG3103/SEPT 2021

TABLE OF CONTENT

1.0 Introduction 1-4

1.1 Exxon Mobile

2.0 Features of Culture in International Business Perspective 5-6

3.0 Analysis of Basic Elements of Culture 7–9

4.0 Suggestions to Overcome Culture Challenges ............................................................... 10 - 11

5.0 How Political Risk Can Influence International Business in Malaysia ......................... 12 – 14

6.0 Conclusion 15 - 16

7.0 References 17 - 18

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1.0 Introduction

1.1 Exxon Mobile

Over the past 135 years Exxon Mobil has evolved from a regional marketer of kerosene
in the U.S. to one of the largest publicly traded petroleum and petrochemical enterprises in the
world. Today they operate in most of the world's countries and are best-known by their familiar
brand names: Exxon, Esso and Mobil. They make the products that drive modern transportation,
potheyr cities, lubricate industry and provide petrochemical building blocks that lead to
thousands of consumer goods. As one of the world's largest publicly traded energy providers and
chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help
safely and responsibly meet the world's growing needs for energy and high-quality chemical
products. ExxonMobil Chemical is one of the largest chemical companies in the world. Their
facilities convert crude oil into petrochemical feedstock that is used in medical equipment,
electronics, clothing, vitamin capsules, tires and many other products. Access to energy
underpins human comfort, mobility, economic prosperity and social progress. It touches nearly
every aspect of modern life.
ExxonMobil has evolved from a regional marketer of kerosene to an advanced energy
and chemical innovator, and one of the largest publicly traded companies in the world. An
industry leader in almost every aspect of the energy and chemical manufacturing businesses, they
operate facilities or market products in most of the world’s countries, explore for oil and natural
gas on six continents, and research and develop next-generation technologies to help meet the
dual challenge of fueling global economies while addressing the risks of climate change.
Worldwide, ExxonMobil markets fuels, lubricants and chemicals under their brands: Esso,
Exxon, Mobil and ExxonMobil.
Exxon Mobil Corporation is committed to being the world's premier petroleum and
chemical manufacturing company. To that end, they must continuously achieve superior
financial and operating results while adhering to high ethical standards. How they achieve strong
results is as important as the results themselves. ExxonMobil has a long history of leadership in
the petroleum and chemical manufacturing industries. The company’s greatest strengths are its
high quality directors, officers and employees, ingenuity and long-term perspective. The

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company's directors, officers and employees are expected to observe the highest standards of
integrity in conducting business.
Their mission is to provide quality chemical products and services in an efficient and
responsible manner and to generate outstanding customer and shareholder value while remaining
committed to the principles of sustainable development. The company holds leadership positions
in some of the largest-volume and highest-growth commodity chemical products. Globally, they
are a leading supplier of olefins, polyolefins and aromatics. Although you may not know about
these and other chemicals, you do know about the products that come from them: from
components for cars, to packaging, to construction materials, their chemicals contribute to
economic growth and social development. They have both specialty and commodity
manufacturing capacity in North America, Europe, the Middle East and Asia Pacific. These
world-scale assets, supported by common systems and a global supply chain, afford us
significant competitive advantages.
As one of the world's largest publicly held international oil and gas companies,
ExxonMobil has a diverse portfolio of high-quality projects and opportunities across their
Upstream, Downstream and Chemical businesses. They demonstrate their commitment to
supporting the communities within which they operate through education and economic
empotheyrment, health, infrastructure provision and human-capacity development. Explore
recent discoveries and developments at ExxonMobil. ExxonMobil has had a presence in the
United States since 1870 when John D. Rockefeller and his associates formed the Standard Oil
Company (Ohio), with combined facilities constituting the largest refining capacity of any single
firm in the world. Today, Exxon Mobil Corporation is one of the largest publicly traded
international oil and gas companies and holds an industry-leading inventory of restheirces. They
are also the largest refiner and marketer of petroleum products and their chemical company is
one of the largest in the world.

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2.0 Features of culture in International Business

Schein (1990) defines culture in managerial terms as “how people feel about the
organization, the authority system and the degree of employee involvement and commitment”;
he continues, adding that culture can be viewed as a widely held, shared set of values, beliefs and
ideas. Culture refers to society and its way of life. It is defined as a set of values and beliefs, or a
cluster of learned behaviors that we share with others in a particular society, giving us a sense of
belongingness and identity. Because of this, cultural understanding is becoming even more
important because of the call to interact with many individuals from other countries and other
cultures (Lee, 2006). The working definition of culture used throughout this topic by Whitely
and England (1977) who described culture as “the knowledge, beliefs, art, law, morals, customs
and other capabilities of one group distinguishing it from the other groups”. Despite the different
definitions, culture has four common features; culture is learned; culture is intangible; culture is
shared and culture is interrelated.
Culture is important for all the things we do in the beliefs that create religion, wars, the way
of life and many challenges. The first thing we have to define is culture and why is it important
in the work life. Culture is a notoriously difficult term to define. Culture consists in patterned
ways of thinking, feeling, and reacting, acquired and transmitted mainly by symbols, constituting
the distinctive achievements of human groups, including their embodiments in artifacts: the
essential core of culture consists traditional (i.e. historically derived and selected) ideas and
specially their attached values (Kluckkohn, 1951). Schein (1990) defines culture in managerial
terms as “how people feel about the organization, the authority system and the degree of
employee involvement and commitment”; he continues, adding that culture can be viewed as a
widely held, shared set of values, beliefs and ideas. Culture refers to society and its way of life. It
is defined as a set of values and beliefs, or a cluster of learned behaviors that we share with
others in a particular society, giving us a sense of belongingness and identity. Because of this,
cultural understanding is becoming even more important because of the call to interact with
many individuals from other countries and other cultures.
Culture at its most basic level can be defined as shared symbols, norms and values in a social
organization (Walsham, 2002). What forms cultures take depends on what individuals human
can think, imagine and learn, as well as on what collective behaviors shape and sustain viable
patterns of life in ecosystems. Cultures must be thinkable and learnable as well as livable

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(Keesing, 1974). Culture is complex and operates at many levels. While country or ethnic origin
is often used as a proxy for an individual team member’s culturally oriented values, the two
levels may actually capture different aspects of diversity. Surface-level indicators may be
associated most with similarity-attraction and social identity effects, and deep-level indicators
with information-processing and value incongruence effects.
Culture is the unique characteristic of a social group; the values and norms shared by its
members set it apart from other social groups and is influenced by conscious beliefs. One culture
is not right and the other wrong. They are just different, and those key differences are culturally
rooted. As a definition culture can be treated as the collective programming of the mind that
distinguishes the members of one group or category of people from other (Hofstede, 1984).

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3.0 Basic Elements of Culture in International Business

Dissimilar languages, cultures and time zones provide added complexity to the already
difficult task of managing people with different functional and backgrounds. Any team can face
challenges such: team members who speak different native languages, who come from different
cultural backgrounds, who live and work in multiple countries, and who come from different
companies (Barczak, McDonough, and Athanassiou 2006). In the business literature more
generally, cross national variations in institutions and their interactions with firm strategy and the
extra-institutional environment have been a core component of the research agenda (Lewin and
Kim, 2004; Volverda and Lewin, 2003).

3.1 Different Native Language

When team members are native speakers of different languages, communicating and
understanding in the shared team language is a challenge. It is essential that any leader take steps
to enable effective communication among, members and ensure that language does not hinder
the team or the project (Barczak, McDonough, and Athanassiou, 2006). Sharing important
information also helps to keep members informed of project progress and problems and is critical
for maintaining commitment and motivation. Members of high-context cultures give much of
their communication’s meaning to the situation the context within which it is being made. To
give meaning to a message, the recipient must understand the context within the words is use.
Conversely, within a low context, the meaning is in the words what you hear is what is meant
(Barczak, McDonough, and Athanassiou, 2006).

3.2 Social Culture

Diversity, including cultural diversity, influences teams in there potentially opposing ways.
First, according to similarity-attraction theory, people are attracted to working with and
cooperating with those they find similar in term of values, beliefs, and attitudes (Williams and O’
Reilly, 1998). Second, according to social identity and social categorization theory (Tajfel,
1982), people tend to categorize themselves into specific groups, and categorize others as
outsiders or part of other groups. Third, according to information-processing theory, diversity
brings different contributions to teams. Sometimes people have felt confused about how to deal

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with diversity in any organization; that is understandable, since there are at least three possible
meanings of the term, and they each call different treatments.
The three types of diversity have to with culture, identity, and personality. Global business is
already shaping common values and attitudes for its participants. But cultural differences can
still add a lot of noise to communication signals (Maccoby, 2006). Cultures provide a source of
identity for their members. In international business we most often talk about country-based
cultures, but cultsures also develop around professions, organizations, religions, and so on. One
step in understanding individuals is to ask them what kinds of work they must like to do, how
they would like to be managed and what they must like to learn (Maccoby, 2006). It seems
obvious, but many managers think they don’t need to ask. They think they already know what
motivates people. Cultural diversity tends to increase divergent processes. Divergent processes
are those that bring different values and ideas into the team and juxtapose them with each other
(Canney Davison and Ekelund, 2004).

3.3 Ethics
Systematically understanding how culture influences ethical decision making will help all
professionals have a better defense against potentially unethical behavior (Su, 2006). Gender
differences in ethical perception and decision making are consistent with a masculine success
orientation (males are more concerned with materials and success) and a female relationship-
orientation (females are most interested in relationships and assisting people) (Franke, Crown
and Spake, 1997).The literature suggests that age is a factor in determining ethical perception
and decision-making. In an investigation of expatriate and local managers in Hong Kong,
Mcdonald and Kan (1997) found older employees are less likely to express agreement to an
unethical action than younger employees Su (2006). One culture is not right and the other wrong.
They are just different, and these key differences are culturally rooted. When behavioral
scientists discuss self-concept, they also consider the ethical implications of self-esteem (Lu,
2006).

3.4 Social Structure & Social Interaction

People are influenced by the norms and beliefs of their cultures and society. This
influence can take a more personal and intimate level or a more general and widespread level

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that affects large numbers of people. The major components of social structure include culture,
social class, social status, roles, groups, and social institutions. Social structure guides people’s
behaviors. A person’s location in the social structure (his or her social class, social status, the
roles he or she plays, and the culture, groups, and social institutions to which he or she belongs)
underlies his or her perceptions, attitudes, and behaviors. People develop these perceptions,
attitudes, and behaviors from their place in the social structure, and they act accordingly. All of
the components of social structure work together to maintain social order by limiting, guiding,
and organizing human behavior. Social institutions are the organized, usual, or standard ways by
which society meets its basic needs. In industrial and postindustrial societies, social institutions
include the family, religion, law, politics, economics, education, science, medicine, the military,
and the mass media. Structural changes can, sometimes, fundamentally and permanently alter the
way a society organizes itself. Emile Durkheim demonstrated this with the concepts of
mechanical and organic solidarity; Ferdinand Tönnies used the constructs of Gemeinschaft and
Gesellschaft.

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4.0 Suggestions to Overcome Challenges in Cultural Differences

Although every culture is unique, certain basic guidelines are appropriate for consistent cross
cultural success. Let’s review three guidelines managers can follow in preparing for successful
cross-cultural encounters. Successful managers acquire a base of knowledge about the values,
attitudes, and lifestyles of the cultures with which they interact. Managers study the political and
economic background of target countries - their history, current national affairs, and perceptions
about other cultures. Such knowledge facilitates understanding about the partner’s mindset,
organization, and objectives. Decisions and events become substantially easier to interpret.
Higher levels of language proficiency pave the way for acquiring competitive advantages. In the
long run, managers who can converse in multiple languages are more likely to negotiate
successfully and have positive business interactions than managers who speak only one
language.
Avoid cultural bias. Perhaps the leading cause of culture-related problems is the ethnocentric
assumptions managers may unconsciously hold. Problems arise when managers assume that
foreigners think and behave just like the folks back home. They distort communications with
foreigners. They may perceive the other’s behavior as odd and perhaps improper. For example, it
is easy to be offended when our foreign counterpart does not appreciate our food, history, sports,
or entertainment, or is otherwise inconsiderate. This situation may interfere with the manager’s
ability to interact effectively with the foreigner, even leading to communication breakdown. In
this way, cultural bias can be a significant barrier to successful interpersonal communication.
Most people view their own culture as the norm— everything else may seem strange. This is
known as the self-reference criterion—the tendency to view other cultures through the lens of
one’s own culture. Understanding the self-reference criterion is a critical first stop to avoiding
cultural bias and ethnocentric reactions. Critical incident analysis (CIA) refers to an analytical
method for analyzing awkward situations in cross-cultural interactions by developing empathy
for other points of view. It is an approach to avoiding the trap of self-reference criterion in cross-
cultural encounters.
Develop cross-cultural skills. Working effectively with counterparts from other cultures
requires an investment in your professional development. Each culture has its own ways of
carrying out business transactions, negotiations, and dispute resolution. Cross-cultural
proficiency is characterized by four key personality traits: Tolerance for ambiguity - the ability to

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tolerate uncertainty and apparent lack of clarity in the thinking and actions of others.
Perceptiveness - the ability to closely observe and appreciate subtle information in the speech
and behavior of others. Valuing personal relationships - the ability to recognize the importance
of interpersonal relationships, which are often much more important than achieving one-time
goals or winning arguments. Flexibility and adaptability - the ability to be creative in devising
innovative solutions, to be open-minded about outcomes, and to show grace under pressure.
Managing cultural diversity in the workplace is one of the challenges facing the Human
Resource Department of any organizations. Workers with different cultural backgrounds are
expected to consider their own culture in making decisions. However, understanding one’s
culture will aid the workers in accepting each other’s differences (Griffin and Hirsch, 1998). The
role of HRD in the success of managing cultural diversity is imperative of how effective the
department in handling issues and challenges by establishing plans and programs to easily adapt
cultural differences by employees in the workplace. Accordingly, the company’s flexibility to
embrace diversity and the expected benefits it can offer will ensure the company’s competitive
advantage through the deployment of highly competitive workforce (Konard, et al. 2006).
Furthermore, the HRD should take into consideration that the workforce is bringing with them
both the talents, expertise and experiences that fit the changing requirement of the work and are
capable of adapting the cultural difference as quickly as possible. The HRD’s effort to encourage
workplace diversity would likely motivates the employees to perform at the highest level
resulting to higher productivity, higher company profits and return on investment (Stockdale and
Crosby, 2004).

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5.0 How Political Risk can Influence International Companies within and outside Malaysia

Since the outbreak of the coronavirus disease of 2019 (COVID-19), more than 1 million
people have lost their lives due to the pandemic, and the global economy is expected to contract
by a staggering 4.3 per cent in 2020. Millions of jobs have already been lost, millions of
livelihoods are at risk, and an estimated additional 130 million people will be living in extreme
poverty if the crisis persists. These are grim figures that reflect the immense challenges and
human suffering caused by this pandemic. Nor is an end to COVID-19 yet in sight. In many
countries, the number of new COVID-19 cases is rising at an alarming rate and, for many; a
second wave is already an unwelcome reality. Much uncertainty remains about how and when
the pandemic will run its course, but the unprecedented economic shock generated by the global
health emergency has already sharply exposed the global economy’s pre-existing weaknesses,
severely setting back development progress around the world.
International business is very exposed to political risk because large number of participants.
Political risk is one of the hardest kinds of measurable risk that are present in international
business. The perception of risk is done through the identification of the spectrum of economic
and other risks that are present in the life cycle of the company. Political risk is not easily
measured because of the specific nature. In various economic – political system ruled by
different rules, because the theory has developed several methods of measuring the political risk.
The existence of political risk in a given market is the most common reason for withdrawal of
large, multinational companies from investing in the same. Political risk does not only affect
Multinational Corporation. It affects every aspect and foundation of a country’s economy. The
following are the main types of political and country risks that may affect the business
performance of an international organization operating in foreign countries.
Political risk has been proven to affect investment decision of firm’s entry mode to host
country (Anderson & Gatignon, 1986; Hennart & Larimo, 1998). Higher political risk will
usually be responded with a more conservative investment decision such as investing in a joint
venture with local company rather than full ownership acquisition which reduce the likelihood of
capital losses due to political uncertainty (Williamson, 1975; Anderson & Gatignon, 1986).
Mode of entry can vary from firm to firm. It can be performed through exporting, licensing,
franchising, turnkey investment, grey investment, acquisition or joint venture. Each of the

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options can be further modified as it fits the host country’s environmental and institutional setup.
The level of risk for each investment is also varied from low to high. Chang and Rosenzweig
argue that MNC decision on entry mode will be dependent toward the risk assessment of the host
country situation (2001: 747).
There is always a political process affecting business environment. For example, in
Indonesia, Freeport’s royalty scheme with Indonesian government using PSC is in the middle of
renegotiation process (Kompas, 16-02-2012). Mining contract is usually long term in horizon,
and most of them include the condition of unalterable in order to provide certainty toward
business environment. However, as host country government seeks a way to increase their
budget, MNCs will try to bargain and protect the status quo. Because an increase in the royalty
cost would mean a decrease of what considered as the company’s profit. This kind of
government intervention is considered to increase the level of political risk (Buckley, 2000).
Host countries usually argue over sovereignty, unfair distribution of wealth, and excessive
exploitation of mineral resources issues in order to get a bigger bite on the pie. Corruption is also
an issue in many countries. It has also been included in calculating and projecting political risk
(Habib and Zurawicki, 2002). It has already become a norm and culture in some countries as the
problem has become systematic and inherent. The effects of corruption has been archived
extensively in research reports and literrature (Mauro, 1995). Additional illegal payment leaking
through corruption channel has added extra burden to MNC’s cost structure (Kwok & Tadesse,
2006). This type of political system failure will affect MNCs profitability in the short and long
run regardless of the underlying benefits.
Political risk does not only affect entry and exit decision of a firm. It also affects business
operation. In many occasions it happens in the form of regulation change, such as issuance of
new rule regulating capital movement and reinvestment (Khattab, 2008) and the introduction of a
new operational and permissional restrictions on FDI, export-import and expansion (Nayar,
1998). However, it is also very possible to experience value chain distruption, in example,
foreign oil and gas company employees were kidnapped by local separatists or terrorists
(Jakobsen, 2011) or anti-foreign movement and sovereignity issues as demonstration and
political tension toward FDI and MNCs are piling up. It can be in the form of road blockade and
demonstration (Welker, 2009).

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Freeport case in Indonesia is an example of business operation hindrance originating from

political and social movement. Freeport mining project has degraded environmental condition of
West Papua for decades. Aside of that, although Freeport has contributed most of Papuan
province minicipal budget annually from royalty and tax, Papua is statistically proven as the
poorest state in Indonesia (Emmerson, 2005). This is supported with the fact that only a fourth of
all Freeport employees are technically Papuan ethnics (Leith, 2003). This discrimination and
exploitation issues have existed for decades. Recently, Papua has become politically unstable
again. Demonstration, road blockade, kidnapping and employee strike occurred in 2011.
Hood and Nawaz, 2004 state that political risk has been incorrectly perceived as negative
externalities. They strongly argue that political risk can be positive in effect. However, many
scholars focus on how to mitigate and manage the extent of political risk. Politics is a country’s
governance process. MNCs might get involve in political process indirectly by giving political
donation to certain party. This kind of action might reduce the level of political risk and
uncertainty (Hood and Nawaz, 2004). Engagement with host government, building relationship
with political leaders, getting engage with local communities, and giving support to political
figures are considered to be proactive in nature. On the other hand, Political risk insurance,
Operational hedging, and entering into a Credit Default Swap contract can be categorized as
passive in nature. As explicitly displayed by above figure 2, Proactive method, accounted for
more than 70 percent of the total firms surveyed, is more preferable than the passive one.

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6.0 Conclusion

Managing cultural diversity and diverse workforce has become global concern that
requires managers and organizations to respond and manage effectively. Issues and challenges
have urged both domestic and global managers to device mechanisms in order to put preference
on understanding and find ways to overcome these challenges as they occur. Moreover, the
importance of establishing a good intercultural communication is necessary to communicate
clearly in sending the intended message to employees with different cultural backgrounds as well
as the impact of cross-cultural communication to manager’s decision making. Cultural diversity
can provide both positive and negative impacts to the organization that may require the human
resource department of any organizations to deal with. This will revitalize the human resource
department’s major role to play to counter the negative implications of cultural diversity.
Therefore, cultural diversity should be managed effectively to establish harmonious working
environment as this may determine how competent managers are in managing globally.
Developing strategies such as diversity strategy that originates from within is very vital to
manage cultural diversity and equally important, is the top management’s support to managing
cultural diversity because any strategies, programs and plans that managers develop will be
useless without the support of the top management. In conclusion, companies should not
underestimate the issues and concerns on cultural diversity and integrate it with the corporate
plan and strategies of the organization.
Political risk is proven to be very relevant to decision making process of MNCs. A
suggestive way of measuring it is to use established insurance and derivative pricing rather than
coming up with individual quantitative methodology, because prior studies have experienced
many deadlocks in solidifying the pricing method. However, this might also indicate a potential
research topic for further study, the quantification and pricing method of political risk. The risk
of expropriation, operation hindrance and profitability reduction did exist and will never vanish.
MNCs are suggested to establish a mitigation plan in order to minimize the extent of the risk.
However, it will never disappear completely. In doing so, they can pursue either proactive or
passive mitigation strategy. Proactive strategy requires company to go through political process
in order to manage the outcome of political events. While, Passive strategy is the easiest one,
where MNCs distribute political risk to another party and pay premium for the service. Political

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risk mitigation also offers an opportunity for in depth research on the field. Therefore, there is
urgency for managers to have political skills. Good political skill is characterized with good
communication and negotiation skill, sound stress management, decent impression management
and influential. Managerial skill and political risk has been linked and studied in prior literatures.
However, it seems to lack a more comprehensive and complete research in the area of external
political risk.

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