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Submitted by deadwood on May 10, 2008
Category: Business
Words: 1714 | Pages: 7
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Popularity Rank: 48,283
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The Cultural Challenges of Doing Business Overseas
Introduction
Steve Kafka, an American of Czech origin and a franchiser of Chicago Style Pizza, has decided to expand his business and open a franchise in Prague, Czech Republic. Before venturing into the global business sector, Steve needs to conduct an in-depth analysis in order to become familiar with the Czech culture. This analysis will present opportunities and risks that Steve will need to achieve and overcome so his end-state goal of expanding his Chicago Style Pizza business can be realized. This paper will investigate and discuss the major cultural differences and incompatibilities between the United States and the Czech Republic defining the apparent risks, and how to mitigate those risks that may develop from these differences. Discussion will then turn to the comparative advantages within the Czech culture, how using Hofstede’s four primary business decisions will help Steve evaluate the business environment, how trade barriers may impact business, and analyze the demand for pizza and how to assess its cost structure.
Cultural and Economic Overview
Czech Republic
The cultural differences between the United States and Czech Republic stem from their unique historical evolution across centuries, from their geographical position, specific traditions, surrounding peoples and cultures, structure of population, and traditional and economic ties with other countries. Over the last 15 years, the Czech Republic has transitioned from a centralist socialist economy to a democratic capitalistic economy. In May 2004, the Czech Republic joined the European Union, which has allowed the Czech economy to obtain a larger market share resulting in greater monetary prosperity. A free market economy has helped the Czech Republic become one of the most prosperous countries to exit from the socialist regime (CountryWatch, 2008).
Situation Analysis
Differences and...
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