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Business partner as well as the promotion of

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business partner, as well as the promotion of commitment by the two venture partners all throughthe lifespan of the international joint venture. The joint commitment often results in the creationof some sense of shared identity amongst the partners, over and above facilitating the voluntarycooperation and development of mutual trust amongst the two parent firms involved in theinternational joint venture (Deresky, 2017). For that reason, the joint commitment amongst theparent organizations involved in the joint venture tends to reduce the conflicts while at the sametime increasing the cooperation between the partners, as well as increases the sense of fairnessand ensures that the relationship between the partner organizations is stabilized. The aspect of46
SurnameINTERNATIONAL JOINT VENTURE IN THE MARINEINDUSTRYmutual commitment also enhances the performance of the international joint venture directlythrough its observed impact with regards to the alignment of the interests, as well as indirectlythrough its impact on the minimization of potential conflicts (Deresky, 2017).Trust as a Factor Affecting IJV performanceThe development of trust amongst the parent organizations involved in the internationaljoint venture has additionally been disclosed to be a vital aspect that has the aptitude tocontribute to the success of various international joint ventures (Liu, Vredenburg & Steel, 2014),and might be managed easily with the objective of enabling faster attainment of the variousobjectives of the international joint ventures (Shi et al., 2016).Culture as a Factor Affecting IJV performanceLastly, culture is also another notable aspect that is perceived to be bound around theinternational joint ventures every time, and this has resulted in a number of researcherspresenting the argument that culture tends to have an effect on the performance of theinternational joint ventures (Hutzschenreuter, Kleindienst & Lange, 2016).According toHofstede, culture may be defined as “the joint programming of the mind that entails thedistinguishing of the members of a given human group from the other groups. As a result of theabove observation, Hofstede initially identified a total of four cultural dimensions, namely;power distance, masculinity-feminity, uncertainty avoidance and individualism-collectivism, inaddition to later the fifth dimension, which is the Long-Term Orientation, and particularlyfounded on the various Asian cultures (Liu, Vredenburg & Steel, 2014). The effects of culture oninternational joint venture performance have always been noted to be the expansively assessedvariable in earlier researches (Park, Vertinsky & Becerra, 2015).47
SurnameINTERNATIONAL JOINT VENTURE IN THE MARINEINDUSTRYAmongst the cultural dimensions of individualism and power distance are mainlydissimilar amongst nations (Khan, Shenkar & Lew, 2015). In their study, Shi et al. (2016)disclosed that the power distance was directly and positively connected to the senior

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Term
Fall
Professor
NoProfessor
Tags
Test, international joint venture, The Grave,

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