Cultural Challenges of Doing Business Overseas Free Essay, Term Paper and Book Report
The Cultural Challenges of Doing Business Overseas Doing business overseas has its reward, as well as its challenges. This paper will analyze the economic environment and the foreign investment climate for the Czech Republic, in order to help Steve Kafka, an American of Czech origin, to expand his business in his country of origin. Steve is a franchiser for Chicago Style Pizza and wants to open a new franchise in Prague, the capital of the Czech Republic. The paper will present the cultural differences between US and Czech culture that Steve must be aware of, such as the comparative advantages that exist in the Czech Republic, the macroeconomic and investment factors, trade barriers, demand assessment for different prices and cost structure, as well as inferring the price and income elasticity of pizza.
First of all, the primary challenge of doing business is to adapt effectively to different cultures that requires an understanding of cultural diversity, perceptions, stereotypes, and values. Steve Kafka knows that expanding his business into the Czech Republic will be a risky dec......
Word Count: 987
Page Count: 3.9 (250 words a page / double spaced)
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