Identify the Various Levels at Which Culture Operates in a Foreign

question 21

Essay

Identify the various levels at which culture operates in a foreign market, and explain how each might impact on the business dealings of a firm wishing to enter an overseas market.

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Definitions:

Effective Upon Dispatch

A legal principle where certain acts, such as sending a notification, are considered effective when they are dispatched, not when they are received.

Reasonable Period

An ambiguous span of time that is fair and appropriate under the circumstances, often used in contract and employment law.

Mirror Image Rule

A principle in contract law that requires acceptance to be on exactly the same terms as the offer to result in a contract.

Common Law

A body of law derived from judicial decisions and precedents rather than statutes, predominant in countries like the UK and the US.