Factors of International Business Development Outside Domestic Market

Abstract

In the process of globalization and the development of international business, the circumstances of multi-culturalism have become particularly relevant. Although cultural aspects have received a lot of attention in internationalization studies over the past decade, there is still room for research. The main purpose of the article is to study the factors of international business development, paying special attention to the analysis of cultural factors. The authors identified the success factors of the international expansion of specific enterprises to specific countries, among which the factors of executive engagement and the importance of the supply chain are also mentioned. An analysis of internationalization studies through the Vos Viewer tool showed that the role of culture should also be kept in mind when it comes to internationalization.