Buy essay on Cross-cultural aspects of entrepreneurship

a. Impact of culture on entrepreneurship
In such a situation, it is hardly possible to underestimate the significance of culture for entrepreneurship and starting up business in Italy. In fact, as any other country, Italy has its cultural specificities, which has been discussed in terms of Hofstede’s cultural dimensions, that affect the performance of a company consistently. Therefore, starting up business is impossible without taking into consideration cultural peculiarities of Italy.
b. Global mindset
At the same time, Italy grows more and more integrated into the global market economy and its government attempts to attract foreign direct investments. Today, Italy is still not a leader among countries for starting up business (See App.). In this regard, Italy holds the 111th place among countries ranked by their attractiveness for starting up business. In addition, Italy is a country member of the EU as well as the WTO. This means that the country participates in the process of globalization and stimulates the development of free trade and fiscal barriers on the way of capital and, therefore, on the way of business development.
c. Cultural sensitivity
Existing cultural peculiarities and cultural uniqueness of Italy make starting up business in Italy quite difficult. Nevertheless, cultural barriers can be easily eliminated, especially if a company starting up business is from Europe because the level of integration of Italy in the EU is very high and economic integration of European countries is naturally accompanied by cultural integration.
d. Barriers to international trade (tariff and non-tariff based)
Obviously, the participation of Italy in international organizations, such as the WTO, as well as its membership in the EU leads to the elimination of fiscal barriers on the way of international trade. Instead, Italy stimulates the development of free trade which is beneficial for Italian companies.
Internationalization process
a. Balanced/traditional vs. entrepreneurship-based internationalization process
In spite of the domination of democratic principles in Italian economy and the extensive experience of the use of open market economy principles, Italy is still inclined to balanced, traditional internationalization principle that naturally raises certain obstacles on starting up business in Italy because the Italian authorities tend to protect domestic companies instead of foreign ones (Volti, 2005).
b. Liabilities faced by international entrepreneurs
At the same time, international entrepreneurs in Italy are vulnerable to the same liabilities as Italian ones. In fact, this is the manifestation of the open market economy principles being implemented in Italy. Due to the membership of Italy in the EU, international entrepreneurs are on the same footing that local ones are because barriers between Italy and European countries have been virtually eliminated.
c. Timing of internationalization
The internationalization of business in Italy has started in the post-World War II period and grew particularly strong in the late 20th century (Van der Borght, 2000). Today, Italy is a member of the EU and the WTO that contributes to the faster integration of the country in the world economy.
d. Managing partnerships/alliances in internationalization
The management of partnerships and alliances in Italy is grounded on democratic principles and there are no substantial limitations on the ownership of business in Italy as long as its operations do not contradict to local legal and fiscal norms.
Conclusion
Thus, Italy is one of well-developed countries with open market economy and specific culture. Cultural peculiarities of Italy make starting up business in this country quite difficult and companies will need time and efforts to adapt to local culture. On the other hand, the socioeconomic development and political stability in Italy makes this country attractive for foreign direct investments.

Works Cited:
McKenzie, Richard & Dwight Lee. Microeconomics for MBAs: The Economic Way of Thinking for Managers. Cambridge University Press, 2006.
Economy Statistics. 2010.
Smith, D.M. Modern Italy: A Political History. The Michigan University Press, 1997.
Van der Borght, K. Essays on the Future of the WTO: Finding a New Balance. London: Routledge, 2000.
Volti, R. Society and Technological Change. New York: Random House, 2005.
Weiler, J. The EU, the WTO, and NAFTA: Towards a Common Law of International Trade. New York: Guilford, 2002.