Basic Questions
In foreign countries, there are the possibility of:
- local languages required in many situations.
- very diverse cultures, both between countries and sometimes even within countries.
- often volatile politics.
- varied economic systems.
- scarcity of skilled labor, with possible costs in training labor or redesigning procedures.
- poorly-developed financial markets and government-controlled capital flows, in some of the countries.
- problems and exorbitant costs in obtaining market research data.
- limited advertising, subjected to lots of restrictions.
- possible low literacy rates, not to mention the possibility of making mistakes in the language when advertising.
- currency exchange fluctuations.
- inadequate or limited communication/
- mandatory worker participation in management in some countries.
- legal restrictions on laying off of workers.
Read more about this topic: International Strategic Management
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