- FE6P04QA Assignment 1 – Information required for Proposal : Management Dissertation, UOL UK
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The main objective of the study is to examine the impact of cultural differences on fast-food chain MNEs: International Business Project Dissertation, LU, UK
| University | Lancaster University (LU) |
| Subject | International Business Project |
The main objective of the study is to examine the impact of cultural differences on fast-food chain MNEs and how they adjust their strategies to perform successfully in the various diverse markets they enter. The main problems faced by Multinational fast-food corporations because of differences in cultural values and lifestyle differences while entering new markets will be closely examined and evaluated in the study.
The fast-food industry has made billions of dollars since 2005 and has risen by 40% annually. (Simi and Matusitz, 2015). Fast food franchises are looking for opportunities for international expansion and American fast food franchises have been expanding globally more swiftly than domestically; in 1994, there was an estimated thirteen percent rise in overseas sales compared to a seven percent increase in domestic sales (Lee and Ulgado, 1997).
Consumers’ purchase decisions and behavior are influenced by cultural values, which in turn affect their expectations for the products that best satisfy their needs (Bui, 2020) which is why it is a very important aspect of international business and a very relevant one because of the fast rate of globalization of fast-food chain MNEs in this modern era.
Cultural and lifestyle differences in the international markets that have always been a huge problem faced by the fast-food MNEs, which needs a careful examination of the market and extensive market research to overcome successfully. This study will be of aid to any business facing the same problems while expanding internationally by giving the reader knowledge through extensive study of the best fast-food chain MNEs such as KFC, McDonald’s, Subway, Domino, etc. which have faced the same problems and will examine how they have overcome this problem. The study by doing so helps the reader get both theoretical and practical knowledge of international business. This study was motivated by the lack of research on how cultural variations affect MNEs that operate fast-food chains and how they use adaptation techniques to deal with them.
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