THE IMPACT OF SOCIAL AND CULTURAL FACTORS ON SUCCESS OF TRADE INTERNATIONALIZATION

Trading companies that expand their operations beyond the national borders need to know the determinants or factors affecting the success of the internationalization strategy. Theoretical and practical research of the past twenty years has seen these factors as a set of economic, political, social, and cultural factors, which, ultimately, determine the choice of the specific market to operate on in the next period. In addition, research results in this field consider internationalization factors on two grounds, in terms of the national market, as “push”, and in terms of the new, foreign market, as “pull” factors. The aim of this paper is to examine socio-cultural factors of trade internationalization. These factors will be analysed in terms of their impact on trade internationalization, as well as the impact of internationalization on them. The basic hypothesis to be tested is that socio-cultural factors affect various activities of international trade chains. In order to test the hypothesis, empirical research on sociocultural factors of trade internationalization on the Serbian market will be conducted.