Reference no: EM132690370

Case:  

Lack of research about the culture of a new market can hurt, even destroy, international business plans. For example, after ten years of struggling in Germany, Walmart exited in 2007. One of Walmart's errors was to ignore the cultural differences between North America (US & Canada) and Germany.

Your group have been hired as the new advisory board of Walmart Germany to explore the business opportunities in that country once more. The group is scheduled to travel to Germany to visit with a potential partner and enter into the final negotiations of a joint venture agreement.

1. How should the group prepare for the negotiations?

2.Include a table that compares the four listed cultural dimensions of these countries and then make report outlining how your team should approach the negotiations in consideration of the cultural differences. (Between North America and Germany)jQuery22405506808063041468_1604704293667

The four cultural dimensions are:

• Power Distance
• Individualism vs Collectivism
• Uncertainty Avoidance
• Long-Term Orientation vs Short-Term Orientation