Axis Partners, a Canadian mutual fund, recently expanded its operations by opening a branch in

Shanghai, China, to handle market analysis. The company used an integration strategy for

staffing its new office. Entry$-$level positions in Shanghai were filled by recruiting graduates from

local campuses. However, they soon realized that this strategy was not as successful in China as

it was in Canada. Which of the following, if true, could explain the reason for this?

Employ turnover rates in the financial services industry in China is one of the lowest in the world.

The employees in Shanghai were being paid less than their counterparts in Canada.

Some of its successful competitors in China use a differentiation strategy.

Few students in Shanghai chose finance as their subject of specialization.