This module will cover the activities of Multinational Enterprises (MNEs) and how they are affected by variations in the laws, regulations and culture in the different countries in which they operate. It will address the various challenges that MNEs can face in foreign markets, derived from the political and legal environment and from the predominant cultural characteristics that reside in each country. It will then look at how firms can manage those challenges and adjust their operations and long-term strategy accordingly. Areas that will be covered include: how firms can adjust their international marketing strategy to fit local regulatory and cultural conditions; how MNEs can adapt their strategies at a regional level while maintaining efficiency; how the strategies of developing-market MNEs (including state-owned firms) differ from those of developed markets; how MNEs can deal with the exchange rate variations that can affect their global supply chain and profitability; and what MNEs can do to in order to maintain a high level of corporate social responsibility in countries with a weaker regulatory environment. Successful students will be able to analyse the political, regulatory and cultural environment in a foreign country, identify the challenges and also the opportunities that arise as a result, and then develop the skills to take appropriate actions.