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The culture of the host country plays a key role to shape the

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Added on  2019-09-23

The culture of the host country plays a key role to shape the

   Added on 2019-09-23

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The culture of the host country plays a key role to shape the business strategies. Consideringculture of the host country at the time of strategy development is effective to attract the localconsumers as well as operating in the market without violating the market regulations(Livermore & Soon, 2015). The culture of a country can be characterized by five dimensions.The five dimensions are the individualism vs collectivism, the focus on uncertainty avoidance,the power distance and the masculinity vs feminity. The businesses require focusing on thecultural dimensions while operating in the country. The cultural intelligence of the business canbe described as the capability to work in different cultures (Livermore & Soon, 2015). Reference:Livermore, D., & Soon, A. N. G. (2015).Leading with cultural intelligence: The real secret tosuccess. Amacom. HiThe small businesses account for a significant portion of the US economy. In 2016, there were5.6 million small businesses in the US (Sbecouncil.org., 2018). The small businesses arebeneficial in terms of job creation and boosting the economic growth. In the US, the smallbusinesses have created 1.9 million new jobs in 2015 (Sbecouncil.org., 2018). In addition, thesmall businesses account for a significant portion of the US GDP (Sbecouncil.org., 2018).However, the diverse nature of the US economy, in terms of the innovation andflexibility helps the small businesses to accept all the opportunities in the market andboost the growth rate.Reference:Sbecouncil.org. (2018). Small Business & Entrepreneurship Council. Retrieved fromhttp://sbecouncil.org/about-us/facts-and-data/
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