Experience Stern | News & Events

Excerpt from SinoVision -- "Globalization is really challenging for three main reasons: Because cultures are different, political systems are different, and economic systems are different. And when companies expand abroad, they enter markets that are very, very different in those ways from their home markets and they struggle to adapt. Walmart in China. Walmart entered Shenzhen in 1996 and opened its first superstore. It took Walmart 12 years to become profitable in China. What Walmart discovered is that China is a very big market. But it's a very, very difficult market to conquer nationally. They found that people across China in different regions had different tastes."

Watch the video