Cultural Challenges Of Doing Business Overseas
The Cultural Challenges of Doing Business Overseas
Starting any type of business is risky but for an American to start one in the Czech Republic brings about different types of challenges. Steve Kafka, an American of Czech origin born in the United States, has decided to expand his Pizza business into the Czech Republic. This paper will (1) identify major differences, incompatibilities, risks, and mitigation factor Steve faces, (2) identify comparative advantages that exist and how best Steve can benefit, (3) evaluate Hofstede's four primary dimensions, (4) identify trade barriers, and (5) assess demand, cost, and what Steve should know about price and income elasticites.
The Czech Republic and American market entry differ in many ways. Some studies reports that entry mode of U.S. companies into the Czech Republic is determined by export/import (easiest and most common), licensing, joint venture, consortia, partially-owned subsidiaries, and wholly-owned subsidiaries (Shama,......
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Approximate Word Count: 1407
Approximate Pages: 6 (250 words per double-spaced page)
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