International Business and Culture
“Internationalisation of operations is critical for a company’s success in today’s competitive environment”
In light of this statement, critically analyse the need for understanding and adapting to local cultures and the role of national culture in the formation of an international firm’s strategy. Using theories of culture describe and discuss the relationship between company strategy and culture. Also consider problems that businesses might have to deal whist working across foreign cultures. For the purpose of the report it would be helpful to use at least one company example to illustrate the challenges that firms face while operating in a foreign market. For example: some of the problems might stem from ethnocentrism, cultural differences and culture shock. In your report you may reflect upon:
a. Cross-cultural practices and International Business literature.
b. Management practices.