importance of understanding cultural and legal differences

importance of understanding cultural and legal differences in the global business environment.. Doing business internationally can be a boon for many companies, but it also presents many challenges. Every country has unique laws, customs, consumer preferences, ethical standards, labor skills, and political and economic forces. Understanding cultural and legal differences is an essential first step for any business contemplating international operations.

CULTURAL DIFFERENCES IN THE GLOBAL BUSINESS ENVIRONMENT

Culture is a shared system of symbols, beliefs, attitudes, values, expectations, and norms for behavior.