An institutional context

Companies working in foreign markets can improve their chances of success by adapting their strategies to local differences and taking into account aspects of social, political, economic cultural and historic backgrounds, such as adapting to the role of the judiciary or what intellectual property protection means locally. "The question is, are companies really able to respond to those more difficult kinds of things that are hard to get your hands around, that can't be measured quantitatively, but are very important if we are to be successful in emerging markets?" asks Professor Peter Williamson.