AnalysisCultural Analysis of the Czech RepublicIn today's economic environment, international business has its own advantages and disadvantages. When expanding business oversees, companies have to be aware of social, cultural, legal, economic, political and technological factors. Before launching a product into a foreign market, the company has to observe and acknowledge specific differences in that particular market and its main target audiences. Upon completion of cultural analysis the company should
3.3.1.4 Cultural Differences Indictors Understanding the culture in the target market is essential for managing a subsidiary efficiently because the client will be part of that culture and will be subject to daily cultural interaction. Thus, the more the client is aware of the other culture, the higher the chances to succeed in managing the subsidiary. One way to understand the differences in a culture is through Hofstede’s country comparison. Even though Hofstede’s model and theory are subject
The Cultural Challenges of Doing Business Overseas EC0/561 8/2/2014 Dr. Sharghi The Cultural Challenges of Doing Business Overseas This paper will provide an analysis of Steve Kafka’s decision to open and operate a Chicago-style pizza business in the Czech Republic (University of Phoenix, 2011). This analysis will include information on the cultural differences between the United States and the Czech Republic and how these differences may affect the business climate
Introduction Steve Kafka is an American born citizen of Czech origin and a franchisor for Chicago Style Pizza. Steve has decided to open a franchise in the Czech Republic, a place where he has family and friends. Steve has visited the Czech Republic several times and speaks the language very fluently. Even though he has some basic knowledge about the Czech Republic, he still anticipates some difficulties at the new location in Prague. He knows his decision is not without risk but is ready
franchise into the country of the Czech Republic, the country of his family's origin. Though Steve has made several trips into the Czech Republic, speaks the language and knows many people, he must seriously consider all of the opportunities and potential barriers to this new venture. I will explore the cultural differences between the United States and the Czech Republic. Next, potential competitive advantages are examined along with Hofsteade's Primary Cultural Dimensions to reveal clues to the
Domino's Pizza: A strategy to enter the Czech food service market Introduction Domino’s Pizza is among America’s favourite pizza chains and, although it ranked below well-known chains such as Papa John's and Pizza Ranch, the company still managed to have a slightly higher loyalty score than its closest competitor Pizza Hut. Founded in 1960 by Tom Monaghan and his brother James in the city of Ypsilanti, Michigan, Domino’s experience a rapid growth and open its first international restaurant in the
Cultural Analysis- Czech Republic Understanding cultural diversity is significantly important in driving global business. This is because different countries have different cultures and in one way or the other affect the business environment. For a company or organization that seeks to expand its business or activities to international markets, cultural analysis is a must process. This involves looking at issues such as the country’s relevant history, geographical setting, social institutions, religion
GLOBALIZATION AND IT EFFECTS ON CULTURAL INTEGRATION: THE CASE OF THE CZECH REPUBLIC. INTRODUCTION I. AN OVERVIEW. With the growing standards of the world and the existing concepts and complexities in political, economic and socio-cultural ideologies, man has always and continuously pondered over the aspects of his nature. Unity, equality, trade and commerce are at the forefront of man's complexities. With these thoughts in mind, man has moved through history trying to satisfy his desires
Even if the Czech market could appear already saturated by the fast food chains, it was stated that they “have prospered in the Czech Republic for a long period of time and a further growth is still possible in this segment of the market”;moreover, Domino's pizza has already showed his capacity to handle the competitors through two main strategies: the innovation in the product and the focus on customer loyalty implemented by the use of digital ordering platform, through which clients can accumulate
The Cultural Challenges of Doing Business Overseas The fall of the Soviet Union in 1989 and the Velvet Revolution ended Czechoslovakia turbulent political history, and establishing democracy. The Czech Republic is embracing the western style models of political and economic reform. In addition the Czech Republic made an agreement and is now a member of the European Union. This will increase their potential for expanding markets and creating an ideal environment for foreign trade and business