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... DE to an EE and how Carrefour managed these challenges. This report will also highlight the following: * Benefit reaped by a learning organization * Significance of formal and informal institutions in EEs * Benefits of localization strategy * Merits of investing in social capital and recognising rules of the game in EEs * Impact of culture in business Despite the level Carrefour's success in China, recommendation is made regarding * Need for improved communication with head quarters * Need for improved control measures 1. Introduction Over the last two decades, the retail industry has been characterized by increasing internationalization with major retailers such as Wal-Mart, Carrefour and Metro spreading their operations across Europe, Latin-America and Asia (Burt et al, 2008). Carrefour had been particularly adventurous as it has spread its operations to over 30 countries and foreign sales accounting for over 55% of its total revenue (Carrefour, 2006) while major competitor Walmart's 12 markets account for a ...