Methodical approaches to the analysis of sociocultural factors of international business development

• Main Author: Iuliia Pankova
• Format: Article
• Language: English
• Published: V. N. Karazin Kharkiv National University 2017-12-01
• Series: Вісник Харківського національного університету імені В.Н. Каразіна: Серія Міжнародні відносини, економіка, країнознавство, туризм
• Online Access: https://periodicals.karazin.ua/irtb/article/view/10011/9535

The paper deals with the issue of existing methodological approaches to the analysis of socio-cultural factors in the development of international business. The relevance of the study definded by the fact that the international business, going beyond national boundaries, faced with the need to adapt to different social and cultural patterns of countries. Cultural and social differences play a significant role in the development of international business, making a strong impact on the marginal efficiency of business joint ventures. This creates significant cross-cultural issues of international business. The aim of the article is to examine the existing methods and models of analysis of factors influence the socio-economic processes and the development of methods of analysis of the influence of socio-cultural factors in the development of international business. On the basis of the research work, the author concludes that it is necessary to conduct a comprehensive analysis on the basis of the use of several methods of factor analysis in order to avoid errors in determining the formation of a standardized approach to the allocation of social and cultural factors that influence the development of international relations and business principles. As a result of the proposed methodical campaign the author formes groups of countries with similar patterns of doing business in international cooperation on the basis of the calculation of socio-cultural distance performance of countries.