კონფერენცია

∘ Teimuraz Shengelia ∘
RESEARCH ON THE IMPACT OF CULTURAL FACTORS ON INTERNATIONAL COMPANIES IN THE SOUTH CAUCASUS COUNTRIES

Summary

The conducted research allows us to formulate the following conclusions. After identifying economic factors according to the Denison model, using correlation and regression analysis, we assessed their impact on economic factors that determine the success of large international companies in each country. We found that the activities of Georgian companies are largely influenced by the adaptation factor, which transforms the requirements of the company's external environment into necessary actions that the company must take for business success, which is especially important in the context of an unstable, transitional economy. The main determinant of success for Armenian and Azerbaijani companies is the cultural factor of mission, which determines the important direction of the development of companies. The involvement factor, which denotes the level of responsibility of all company employees for the common cause, the company's orientation towards human potential, is important for both Azerbaijani and Georgian companies, the consideration of which creates the prerequisites for their development.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Teimuraz Shengelia ∘ RESEARCH ON THE IMPACT OF CULTURAL FACTORS ON INTERNATIONAL COMPANIES IN THE SOUTH CAUCASUS COUNTRIES Summary The conducted research allows us to formulate the following conclusions. After identifying economic factors according to the Denison model, using correlation and regression analysis, we assessed their impact on economic factors that determine the success of large international companies in each country. We found that the activities of Georgian companies are largely influenced by the adaptation factor, which transforms the requirements of the company's external environment into necessary actions that the company must take for business success, which is especially important in the context of an unstable, transitional economy. The main determinant of success for Armenian and Azerbaijani companies is the cultural factor of mission, which determines the important direction of the development of companies. The involvement factor, which denotes the level of responsibility of all company employees for the common cause, the company's orientation towards human potential, is important for both Azerbaijani and Georgian companies, the consideration of which creates the prerequisites for their development.