The influence of the cultural diversity on international business strategies formulation

Last modified: September 20, 2020
Estimated reading time: 2 min
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
Faculty: Graduate Schools
Academic year: 2020
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Conference
Conference Proceedings
National and International Academic Conference “Innovation and Management for Sustainability” 9-10 July 2020

Citation

Castex, Jérémi. (2020). The influence of the cultural diversity on international business strategies formulation. (Independent study, Master of Business Administration). Bangkok: Siam University.


Abstract

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

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