A Comparative Analysis of Starting a Business in Finland and Vietnam - Case study: Sorento Korso and Moon Coffee
Dang, Van (2024)
2024
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024120332560
https://urn.fi/URN:NBN:fi:amk-2024120332560
Tiivistelmä
This thesis explores the influence of cultural differences on business establishment and management between Finland and Vietnam through case studies of Sorento Korso and Moon Coffee. The primary research questions address the cultural factors affecting business operations, macro-environmental business conditions, and leadership and decision-making perceptions in both countries. Using a qualitative approach, data was collected via interviews and surveys, supplemented by a PESTEL analysis and Hofstede’s Cultural Dimensions Theory.
The findings highlight Finland’s preference for direct communication, work-life balance, and collaboration, contrasting with Vietnam’s emphasis on hierarchy, indirect communication, and relationship-building. Finland’s stable, regulated environment supports sustainability, while Vietnam’s dynamic economy offers flexibility but involves regulatory challenges. Leadership styles also differ: Finnish managers encourage equal participation, whereas Vietnamese leaders typically uphold centralized authority.
These cultural distinctions have significant implications for entrepreneurs, especially those seeking cross-cultural expansion, highlighting the importance of adapting management styles and business strategies to local expectations. This study contributes to understanding the critical role of cultural awareness in successful international business ventures.
The findings highlight Finland’s preference for direct communication, work-life balance, and collaboration, contrasting with Vietnam’s emphasis on hierarchy, indirect communication, and relationship-building. Finland’s stable, regulated environment supports sustainability, while Vietnam’s dynamic economy offers flexibility but involves regulatory challenges. Leadership styles also differ: Finnish managers encourage equal participation, whereas Vietnamese leaders typically uphold centralized authority.
These cultural distinctions have significant implications for entrepreneurs, especially those seeking cross-cultural expansion, highlighting the importance of adapting management styles and business strategies to local expectations. This study contributes to understanding the critical role of cultural awareness in successful international business ventures.