Explain the difference between p-time and M-time, giving examples of countries w

Question

Explain the difference between p-time and M-time, giving examples of countries where the respective attitudes/perceptions of time are held widely, how they affect local business culture and how the p-time/m-time difference can affect international marketing(use imagination/Google it) Explain the difference between p-time and M-time, giving examples of countries where the respective attitudes/perceptions of time are held widely, how they affect local business culture and how the p-time/m-time difference can affect international marketing(use imagination/Google it)

Explanation / Answer

With the advent of globalisation many corporates have expanded businesses worldwide. It is an essential requirement for any business personnel representing a company, having been awarded the responsibility of visiting its company's offices, located in another nation with significantly different culture, to completely acquaint themselves with every Nuance of the culture as well as prevailing business etiquette before visiting such a Nation. The importance of intercultural Management within a business environment has been stressed upon extensively and its effectiveness supported by extensive research, making it an important requirement for assuring success in a global market. Any individual who does not adequately prepare themselves for a visit to a foreign Nation which substantially different cultural practices main seriously undermine, the chances for building successful collaborations or acquiring quality customers. Any diligent employee judicious about quality output will definitely acquaint themselves with all prevalent cultural values, attributes, method of communication required, the business practices prevalent, the perception of time, as well as, accepted norms for decision making.

In this global environment it is essential that strategy be employed in every business process and with recent research the importance of time in international business negotiations has become an established fact. Various characters have different perceptions of time and conduct all business processes on the basis of this perception, and tend to analyse all prospective business partners and Allies with reference to the attitude towards time. Therefore it becomes important to understand the perception and orientation of each culture towards time as time as a major impact on punctuality at business meetings and events as well as the pace of negotiations and discussions. A clear understanding of cross cultural differences regarding perception of time can prove to be a major advantage to arrive at positive outcomes. American anthropologist and prosperity researcher Edward t hall segregated time into two modes on the basis of which the cultures across the world can be grouped, that is, monochronic cultures, m time and polychronic cultures, P time.

The monochronic pictures tend to focus on a single matter at a time, with a clear timeline attributed to the task alongwith exact deadlines. The time to plan every action on the basis of time extensively and exactly with schedules being made for weeks in advance and lot of value placed on punctuality. Within search characters disregard for time buy arriving late for important meeting other business events is considered inciting and disrespectful to the organiser of the meeting. These cultures generally lead their lives on the basis of time, some of the countries which exhibit M time culture are USA, Germany, Switzerland, Western Europe, Singapore, Scandinavian countries etc.

P time cultures are identified by the native people performing various tasks simultaneously, in a random manner guided by individual preference, without any pre-planning or scheduling and no strict time allocations or deadlines. The focus is more on the people involved rather than the deal being negotiated. Examples of this type of characters countries within Africa, Latin America, Eastern Europe, Southeast Asia etc.

Given the fact that both these cultures have essentially opposing perceptions of time and matters of importance it can result in major frustration irritation and misunderstanding on both sides when business deals having negotiated between countries with cultures from M time and P time. Play understanding of the time culture of an organisation can go a long way in enhancing business deals and ensure positive results for all Deals And negotiations with minimum investment of time and energy. Following few guidelines while negotiating with cross cultural countries can prove to be a major advantage some of them are listed below:

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