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How important is the cultural environment of foreign market

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Discussion

1. How important is the cultural and societal environment of a foreign market? Define and demonstrate the effect of a culture's various dimensions on a business.

2. According to researchers Warren Keegan and Mark Green, culture is a society's "programming of the mind," and has both a pervasive and changing influence on each national market environment. Global marketers must recognize the influence of culture and be prepared to either respond to it or change it. Human behavior is a function of a person's own unique personality and that person's interaction with the collective forces of the particular society and culture in which he or she has lived. In particular, attitudes, values, and beliefs can vary significantly from country to country.

3. Discuss how the economic standing, politics, and legal forces can affect a company's entry into a new global market. Please provide an example.

4. The economic environment is a major determinant of global market potential and opportunity. In today's global economy, capital movements are the driving force, production is uncoupled from employment, and capitalism has vanquished communism.

Reference no: EM131419512

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