Psychic Distance in International Expansion Research Paper by cee-cee

The paper identifies the relative importance of the various elements of psychic distance, at each of the stages of the process of cross-cultural business relationship development. The paper analyzes the various stages of business relationship development and discusses the different types and elements of psychic distance that must be taken into account. Finally, the paper provides an analysis and evaluation of the relative importance of each psychic distance element in formulating strategies for international expansion. The paper concludes that the concept of psychic distance can help companies identify opportunities for creating strategic alliances and relationships with foreign companies to their mutual benefit, while avoiding the pitfalls and hazards typically associated with such international expansion efforts.

Outline:
Introduction
Stages of Process of Business Relationship Development
Types and Elements of Psychic Distance
Analysis and Evaluation of Relative Importance of Each Element
Conclusion