|Project Title:||The influence of the cultural diversity on international business strategies formulation|
|Author:||Mr. Jérémi Castex
|Advisor:||Dr. Tanakorn Limsarun|
|Degree:||Master of Business Administration (International Program)|
|Major:||International Business Management|
National and International Academic Conference “Innovation and Management for Sustainability” 9-10 July 2020
Castex, Jérémi. (2020). The influence of the cultural diversity on international business strategies formulation. (Independent study, Master of Business Administration). Bangkok: Siam University.
Nowadays, as countries and economies are getting more integrated due to high numbers of exchanges, companies constantly need to deal with cultural differences. It represents an opportunity for these firms to aim for new markets and potential customers. However, organizations and their strategic management are facing a lack of non-domestic market knowledge.
This study aims to highlight critical cultural aspects an organization would need in order to properly formulate and implement an adequate international business strategy to penetrate a foreign and relatively unknown market. By analyzing a large amount of already existing academic productions on the cultural subject, and a face to face comparison between two culturally very different countries, France and the Kingdom of Thailand, a correlation between five independent cultural variables, respectively being the Organizational Culture, the Country’s Culture, the Consumer Culture the Cultural Diversity, and the Context of a Culture, and the way International Business Strategies are elaborated has been found.
The main goal of this study was to find a clear framework, a company could follow in order to not omit the crucial cultural variables, and gather a necessary amount of data, as to elaborate an adequate and tailored strategy. The study finishes with enlargement of the subject, and a thought about what cultures could look in the future.
Keywords: Cultural Diversity, International Business, Strategy Formulation.
The influence of the cultural diversity on international business strategies formulation
Master of Business Administration (International Program), Siam University, Bangkok, Thailand
- Impact of service quality and customer perception: A case study of private clinics in Myanmar
- The influence and prospect of digital marketing communication on purchase decision making process of youth consumer in Myanmar
- Importance of brand personality to customer loyalty in Myanmar telecom industries
- Opportunities and Risks of Foreign Direct Investment in Myanmar
- A study on the factors influencing Myanmar students’ choice of University courses
- The Study on Customer Behavior of Buying Private Car in Yangon, Myanmar
- A study of marketing strategy towards market development orientation: A case study of Asia World Company in Yangon, Myanmar
- Access to quality education and peacebuilding: A case study of internally displaced persons in Myitkyina, Kachin State, Myanmar
- A study of relationship between service quality and business Major Myanmar students’ satisfaction at three selected private universities in Bangkok, Thailand