A Model for Expanding Your Business into Foreign Markets (HBR)

©iStock/Galeanu Mihai

In May, 2024, it was thought that globalization would flatten out cultural differences among countries and regions of the world, making it easier than ever for companies to move into foreign markets.

According to a study by the author Joshua Conrad Jack and a colleague, however, cultural differences are greater today than they were 40 years ago, which explains why some major corporations have failed in their recent efforts to establish a foothold in new countries. 

Companies need to adapt, the author argues, and to that end in this article he presents a general model for global leadership in the face of cultural divergence.

Joshua Conrad Jack is a Neubauer Family Assistant Professor at the University of Chicago’s Booth School of Business.  Other articles by him.

from The Global Small Business Blog https://ift.tt/S5eNPGw