Translation services are a vital part of conducting international business. Key stakeholders must be able to communicate clearly in spite of language and cultural differences. Luckily, with the help of a professional language service provider, these obstacles can be easily surmounted. Here’s how business translation services can improve corporate governance for global businesses.
Business Translation And The Shift In Dynamics
Within the last twenty years, a new order has emerged in corporate governance in the United States. More specifically, the relationship dynamic between U.S. shareholders and the board of directors has become closer to resembling that of a team. In the past, it was standard for shareholders to be the silent financers of the company without having much direct say. However, in the new corporate order, shareholders and the board of directors are now encouraged to directly communicate with each other on a regular basis, a good practice for corporate businesses who depend on long-term investors. Researchers at Harvard Business School claim that direct communication between shareholders and board members is a great way to explore potentially-missed business opportunities and ideas otherwise left unnoticed, which in turn can negatively affect the long-term business outlook. Nevertheless, this method of communication cannot be effectively facilitated with an ever-growing diverse shareholder group unless investment is made in professional financial translation services.
Understanding Shareholder Dynamics And Business Translation
Along with the new order for corporate governance, shareholder groups have also become increasingly diverse, which has given rise to more advanced shareholder translation services to best facilitate communication between investors and board members. As of 2021, 32.9% of all investors in the U.S. were of diverse backgrounds as of 2021. In addition, demographic trends of the same study published by the U.S. Census Bureau also show a steady increase in the diversity of shareholders across the nation since 2010.
Of these 32.9% of investors, 5 additional languages aside from English prevailed to be the most in-demand method of communication for non-native English shareholders. When looked at closer, 36.1% of this sector of investors spoke Spanish as their dominant language, 12.9% spoke a form of Chinese, 11.6% spoke French, 5.4% spoke Japanese, and the remaining 34% was fulfilled by a wide range of additional foreign languages. Clearly, business document translation services are an absolute necessity in today’s corporate environment.
Choosing Your Language Services Provider
Luckily, at Language Connections, our primary goal is to successfully facilitate your international translation service needs for both board members and corporate shareholders of your company by providing corporate translation services for a variety of different types of materials. With over 30 years of experience offering corporate shareholder translations to our clients, we understand the importance of effective communication between shareholders. With our help, you can ensure that company shareholders will gain complete clarity on company activities through our accurate business document translations and financial statement translation services.
About Language Connections:
Language Connections is one of the top language service companies in the US. Over the last 30 years, we’ve focused on providing the best business translation services, interpreting services, as well as interpreter training and customized language training programs. In addition to top-tier corporate language training, we offer certified corporate interpreters and professional business translation services in 200+ languages. Our network includes linguists with backgrounds in all major industries. They’re ready to meet your needs, whether they’re for technical translation services, legal translation, government translation services, international development translation services, education translation services, life sciences translation, or something else. Reach out to us today for a free quote on our cost-efficient and timely translation services, interpreters, or other linguistic services.
Language Connections Inc.
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Boston, MA 02135