Exploring cultural influences and the macro-environment for company internationalization in Asian markets
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Asia, being the largest continent in the world with a rising amount of consumers, presents a significant opportunity for companies looking to expand. To internationalize as effectively as possible, companies must understand how to act in certain situations and what to expect. This is why I decided to explore Asian culture and the macro-environment in my thesis. I attempt to investigate possible cultural differences and the macro-environment to help companies expand into new markets in Asia. I chose two sub-problems to help analyse the research problem, using two different frameworks and examples to help understand.
I found that because Asian markets are quite large, it was challenging to provide an overall view of every country, so the research focused on countries where information was available. Hofstede ́s cultural dimensions provided a good overview of how the cultural dimensions vary across many Asian countries but also gave an understanding of which countries are most alike. The PESTEL analysis provided details on the largest markets in Asia and also possible regulations or advantages companies should consider before deciding on their possible strategies. The analysis focused on the socio-cultural aspect, discussing communication style, religion, and language differences. The thesis offers a deep look into the cultural differences companies should be and also briefly the macro-environment, which can help companies decide on their strategies.