Chapter 1- Analyzing international markets

This podcast accompanies Chapter 1 "Analyzing international markets" of our textbook.
In this chapter we discuss indicators and conceptual frameworks that assist in analysing the international environment. We differentiate the formal context from the informal context and introduce indicators and toolsets to analyse both. The formal context refers to the economic, political and regulatory environment of the firm. The informal environment refers to the values, norms, and codes of conduct in markets, sometimes simply summarized as culture. Identifying dissimilarities in international environments is key for managers to understand opportunities and risks in foreign markets. In addition to standard indicators, we provide insights on where to find information on aspects of digitalization, and sustainability. Moreover, we enrich the traditional cultural perspective by contemporary archetype approaches and offer toolsets to measure cultural values on the individual level. Hence, in this chapter, we will discuss indicators and conceptual frameworks that characterize the economic environment, operationalize the political and regulatory context and measure and structure cultural values, and therewith assist several challenges of relevance to the decision-maker in international business that are introduced throughout the book.
Keywords: International environment, emerging markets, global competitiveness, culture, Hofstede, GLOBE, cultural archetypes
International Business Strategy and Cross-Cultural Management: An applied approach
written by: Nicole Franziska Richter (Professor of International Business at the University of Southern Denmark), Jesper Strandskov (Professor Emeritus of International Business at the University of Southern Denmark), Sven Hauff (Professor of Human Resource Management at Helmut Schmidt University in Germany), Vasyl Taras (Professor of International Business at the University of North Carolina at Greensboro in the US)
published by: Edward Elgar Publishing.
Link: www.e-elgar.co...