Distance Still Matters by Pankaj Essay

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Cultural distance includes variations in languages, religion and religious practices, as well as is social traditions and mores. In terms of recommendations, it sorely behooves an enterprise to significantly study and attempt to quantify its distance from a foreign market in terms of culture before proceeding with any expansionist plans.

Political and administrative distance includes issues of legality as well as any perceived hostilities between the two countries. There are various components of political and administrative distance that are tied into economic distance, such as the hegemony of indigenous financial institutions as well as any political or monetary allies (or dearth of such allies) existent. This is because "Historical and political associations shared by countries greatly affect trade between them" (2). The vast majority of the calculations involved in determining economic distance is taken into consideration via a country portfolio analysis, and pertain to income and financial prowess of consumers in the foreign market, as well as specific differences in cost and production.

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Lastly, geographic distance factors in as well in terms of accessibility and issues of transportation or forms of communication

On the whole, Ghemesh's claims appear to have a validity that is especially prudent in contemporary business practices given the surging popularity in globalization. From a pragmatic level, there surely is more at stake than dollars and cents when it comes to selling products or expanding a domestic enterprise into a foreign market. The author's many case studies within this document readily demonstrate the veracity of his point.

Endnotes

Pankaj Ghemawat, "Distance Still Matters," Harvard Business Review, (2001): 3.

Pankaj Ghemawat, "Distance Still Matters," Harvard Business Review, (2001): 4......

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