The numerous differences in formal institutions and informal cultures/norms are not barriers to internationalization.

Question

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The numerous differences in formal institutions and informal cultures/norms can indeed pose significant barriers to internationalization. Differences in legal systems, regulations, business practices, language, and cultural norms can increase the costs and risks of doing business in foreign markets. It requires significant effort and resources to navigate these differences and adapt to local environments. However, companies that can successfully manage these differences can gain a competitive advantage and succeed in global markets.

The Numerous Differences in Formal Institutions and Informal Cultures/norms Are