An Examination of Cultural Difference Perceptions in Joint Venture Activities in Uzbekistan
Firms attempting to market their products in new regions around the globe often encounter a number of difficulties due to diverse cultural traditions. Cultural differences in negotiation styles, business etiquette and decision-making have been known to affect the success or failure of joint ventures (JVs). This is especially true in most of the former Soviet Union republics where the government is encouraging the establishment of JVs to speed up the transition to market economies and bring in new technology. Understanding the cultural differences which impact JV negotiations and implementations go a long way toward achieving success in JVs in this region.