Articles
Oct 02, 2013
Marco Polo: Lessons from the Master of International Trade
Marco Polo, historically recognized as one of the world 's greatest explorers, is not known as well for one of his greatest skills - understanding the importance of
different cultures when doing business. The ability to interact successfully with all of the foreign people he encountered in his vast travels ultimately made Marco
Polo a very wealthy merchant.
In 1271, the 17-year-old Venetian, Marco Polo, embarked on a 24-year journey touring the Middle East and the Far East, including China and Japan, with his
father and uncle, with a goal to meet Kublai Khan. He was quite educated, fluent in four languages and knowledgeable about foreign currencies. As he matured,
he gained the business acumen to appraise and manage cargo ships.
His book, The Travels of Marco Polo, was the first comprehensive publication about the inner workings of the Far East –a manuscript that inspired the likes of
Christopher Columbus to set sail in search of new land. Clearly, Polo's financial success was the product of his focused effort to adapt to the various cultures
and business practices he experienced during his travels.
Like Polo, the smart CEO realizes that understanding various business cultures is integral to not only financial success of the company but also to lasting
relationships in the business community. Just as Marco Polo understood the importance of etiquette in his travels, the smart CEO needs to research similar
behaviors.
Think about it. Traveling tourists usually stick out. They can be spotted a mile away by their dress and mannerisms. Unlike the tourist, whose faux pas are often
forgiven, cultural mistakes by business travelers are never acceptable and rarely result in successful trips. This holds true when doing business within a
particular scare government, across state lines or internationally.
Business culture is a vast subject, which varies from city to city, state to state and country to country, for which a certain degree of cultural awareness and
acceptance is necessary. Consider the customary business practices before you make your next deal across the border.
ABROAD
Punctuality: In Australia, England and Germany, be punctual. Call even if you will be five minutes later than agreed. Punctuality is a matter of good manners.
Attire: In Mexico, jeans are generally inappropriate. In Italy and France, the importance of appearance should not be taken lightly. If you want respect, you must
dress the part. In Italy, style and fashion are as important for men as they are for women - especially shoes and accessories.
Eye contact: Eye contact varies by country. In England, avoid prolonged eye contact as it may make people feel uncomfortable. In Mexico, as a sign of respect,
eye contact is often diverted.
Gifting: Gift giving is tricky. In some instances, it is expected. In others, it may be perceived as bribery, insulting or inappropriate. For example, it is appreciated if
a man gifts a bottle of American whiskey in Japan and China; however, the same gift is considered offensive in the Middle East. A gift given to someone in
England should be opened when received, but recipients of gifts in the Middle East should not be expected or asked to open them at the time of giving.
Business cards: Careful considerations should be given when accepting a business card from individuals from China and Japan who consider a business
card a representation of one's self In Russia, ensure that one business card is printed with a side in Russian and the other in English. While business cards
are often glanced over and placed in a pocket in the U.S., if someone took the time to carefully create the card, treat it with similar stateliness. Read the card with
the respect due and acknowledge receipt appropriately. If you wish to make notes on the card in the presence of the person who gave it to you, ask permission
first.
Food and drink: To refuse coffee, tea or food from your host is the ultimate sign of disrespect in most of Asia and the Middle East.
AT HOME
Correspondence: While we live in a world of infinite messages, it is important to acknowledge telephone calls, emails and other messages within 24 hours.
People understand that you are busy, so if necessary, say that you can provide details at a later date. When you are out of the office, activate the out-of-office
automatic email response. This way, you will better manage the expectations of those trying to reach you.
Communication: The telltale sign of an effective business person is one who listens first, asks well-thought-out questions and does not interrupt. Be tactful and
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insert your ideas at the right time, but first and foremost, listen actively.
Attire: While casual Friday and business casual have become commonplace in the U.S., your accessories, briefcase and the things you carry say a lot about
you. If you want to be perceived as professional and successful, present yourself as such. When meeting people for the first time, how you present yourself will
leave a lasting impression.
Organization: When doing business, you will often meet with others in your office, which is a reflection of the type of person you are. How do you want to be
perceived when someone enters? For example: if you have piles of unfiled work, you may appear disorganized.
Meals: Inviting business associates to lunch or dinner is common practice. Be mindful, the person extending the invitation should be responsible for the tab. Do
not argue over the check, simply offer to reciprocate at a later time. Cultures vary across borders, businesses and industries. Google certainly has a specific
style and corporate culture that differs vastly from a Wall Street brokerage firm. All it takes to succeed is the ability to adapt and the knowledge of all that is not
appropriate - like Marco Polo when he won the trust and graces of Kublai Khan.
About the Author: Mark S. Carrow, CPA, MS, is the managing partner in the Philadelphia office, which provides tax services, business consulting advice,
valuation services and merger and acquisition guidance. Mark can be reached at 215-545-4800 or [email protected].
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