11 Jul Reply to post 200 wordsDifferences in Culture  I found the infor

Reply to post 200 wordsDifferences in Culture  I found the information we learned in week 2 on differences in culture to be very interesting. As we all know, the values and norms that are shared within a group of people is called the culture. What we believe in, what we believe should be, what is right and good are values. Norms are the socially created rules and guidelines that we follow and are considered appropriate behaviors. (Hill, 2017)  One of the very first steps in becoming a successful international business is to know the culture of the country you are doing business with. This will take a lot of research, time and resources, and in a lot of cases outside help. This step in growing your IB should never be rushed, as dismissing this important factor will most certainly cause failure. Culture is what impacts our every day decision making as well as our reaction to daily circumstances.  Not adjusting your brand and product to meet the cultural expectations of your global market is one of the biggest mistakes you can make and can affect even the most successful domestic companies. For example, the launch and near failure of Euro Disney. This popular American attraction made several big mistakes when they opened the park in Paris, France. Naming the park what the French called “Dollar Disney” as they associated the word euro only with currency. Offering plastic cutlery and not wine to diners who pride themselves with culinary experiences. Claiming Mickey Mouse as a childhood hero and dismissing the actual cartoon icons of society. These big mistakes, among others, caused the company to run out of cash after only 2 years and they had to borrow money to keep the doors open! (Hummel, 2016)   Strategic Alliances  The next topic I would like to discuss is strategic alliances, which we studied during week 6. An agreement between potential or current competitors is a strategic alliance. I found the information we learned about selecting a firm from a different country to become an alliance to be very interesting. A strategic alliance can come in many forms (joint venture, outsourcing, franchising, licensing) and is an excellent way to facilitate entry into a foreign market. (“Types of SA”, n.d.)  One of the keys to strategic alliance success is choosing the right partner. A good partner has access to your desired market, share the costs and risks, and offer core competencies you are lacking on your own. One of the most important attributes a good partner will have is a shared vision for the firm’s success, the same agenda is crucial and a good partner will have the same values and goals as your company. Not selecting the right partner the first time can be detrimental to your business and there is a big possibility you will not get the opportunity to try again with another partner. (Hill, 2017)  HP and Microsoft have had a very long standing successful alliance. With more than twenty-five years of combined leadership dedicated to helping partners all over the world improve productivity. They share market experience, technology, marketing resources and engineering and provide solutions and service to customers across the globe. (“Global Strategic Alliance”, n.d.)   References:  Global Strategic Alliance Examples. (n.d.). Retrieved from http://universalteacher.com/1/global-strategic-alliance-examples/  Hill, C. W., & Hult, G. T. (2017). International business: Competing in the global marketplace. New York, NY: McGraw-Hill Education.  Hummel, D. (2016, May). Understanding the Importance of Culture in Global Business. Retrieved from http://www.oracle.com/us/corporate/profit/archives/opinion/050312-dhummel-1614961.html  Types of Strategic Alliances. (n.d.). Retrieved from http://www.marketingminefield.co.uk/types-of-strategic-alliances/