Culture and politics are important parts of the external environment and vary greatly, not only between, but also within each country… Research the impact of culture and politics on business using your textbook, University online library resources, and the Internet. Respond to the following:
- Why is understanding culture critical for successful international business? Give examples of how understanding culture has been important for an international business.
- Classify and describe at least four different types of political systems that an international business might encounter. What type of political system might have the greatest potential for imposing adverse political risk on an international business? Compare at least one other system to the one you selected and explain why it has less potential for imposing political risk
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