Expanding Business Overseas Global Expansion Research Proposal

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The consultancy then must seek out a high level of congruence specifically on the IDV dimension if it is to be successful over time.

Using the Five Dimensions Model to plot the values of Singapore, Hong Kong, The U.S., Canada, the United Kingdom and France, the six graphics shown in Appendix A: Comparing Cultural Dimensions by Nation is created.

Comparing each nation specifically shows that of the potential candidates for expansion, Singapore, Hong Kong and France are the least favorable when analyzed purely on the IDV dimension of the model. Ironically, the team had seen Singapore and Hong Kong has having the greatest potential is actually the worst in terms of its attractiveness on the IDV dimension relative to Australia. Conversely, the United States, Canada and the United Kingdom all are more comparable to Australia on the IDV dimension of the Hofstede Cultural Dimensions Model. Next, the Uncertainty Avoidance (UAI) dimension is compared across the nations highlighted for expansion. Considering this dimension is critical if the consultancy is to gain the trust of its new clients in the nation(s) of interest (Foscht, Maloles III, Swoboda, Morschett, Sinha, 2008). Ultimately the attainment of trusted advisor in each nation served is critical for the consultancy's success. The UAI dimension is crucial to this specific aspect of their overall strategy as it will allow them to contribute more to the reduction in risk associated with the self-assessment software and also gain greater business.

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As the management consultancy's value is predicated on gaining the trust of its clients and providing insights they had not considered before, the cultural dimensions of Hofstede's Model must be taken into account in the planning and execution of any global expansion strategy. Additional dimensions of the model that are highly relevant to the consultancy include Long-Term orientation (LTO), as this must be in alignment for clients to trust them.

Conclusion

The Hofstede Cultural Dimensions Model (1993) is invaluable for firms such as the consultancy who seek to expand globally as a trusted advisor. Their core business isd providing insightful guidance to clients. In order to create the best possible scenario for gaining client trust, the constantly needs to be cognizant of five cultural dimensions as defined by Hofstede (1003) and plan accordingly. The analysis highlights how similar the Australian culture is to the U.S., Canada and the United Kingdom. From this starting point the financial implications can be also determined and planned for with greater confidence and a significant reduction in cultural risk as a result. Finally using this framework ensures the consultancy will have an opportunity to become a trusted advisor to new clients.

Appendix A: Comparing Cultural Dimension Models By Nation.....

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