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If the foreign country meets these standards, I thought it would be worth to invest, but I neglected the impact of culture and institution which form the whole macroeconomic environment. I acquired from this article that firms prefer to enter markets with similar cultures because they understand better consumers’ needs and thus take fewer risks. And I acquired the knowledge that one country’s unique culture could influence customers’ behavior which is helpful for a foreign company to design its international product strategy.
I’ve re-identified and considered the choices of entry mode from a cultural and institutional perspective...
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Common topics in this essay:
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