What are some examples of companies that have failed in international diversification?

Answer 1

Several companies have faced challenges with international diversification, leading to failures in their global expansion efforts. For instance, Walmart struggled in Germany due to cultural misalignment and stiff local competition, ultimately exiting the market in 2006. Similarly, Best Buy's attempt to penetrate the UK market ended in 2013 when it closed its stores there, hindered by pricing issues and lack of brand recognition. These examples highlight the complexities and risks associated with entering foreign markets without thorough research and adaptation.