Culture and Global Business
February 12, 2025
A set up where two or more parties engage in exchange of goods, services and information is called a market. Ideally a market is a place where two or more parties are involved in buying and selling. The two parties involved in a transaction are called seller and buyer. The seller sells goods and services […]
Some Recent Scandals Involving Corporate Governance The recent months have seen a spate of scandals involving corporates pertaining to corporate governance. From the Indian IT (Information Technology) bellwether, Infosys, to the hottest startup and Unicorn (startups that are valued at more than a Billion Dollars) and the TATA group to name a few, the corporate […]
Scaling Techniques for Measuring Data Gathered from Respondents The term scaling is applied to the attempts to measure the attitude objectively. Attitude is a resultant of number of external and internal factors. Depending upon the attitude to be measured, appropriate scales are designed. Scaling is a technique used for measuring qualitative responses of respondents such […]
In this dynamic market with the free flow of information and innovative marketing programs, needs and wants of consumers are always changing. As per capita income increases consumers are willing to explore more alternatives for purchase decision. Companies should be aware of changing situation all the time to take the right decision. This calls for […]
Customer acquisition cost is the cost which suppliers invest to acquire a new customer. This cost should be always less than the overall value of customer in the entire customer life-cycle. For example, if the cost incurred to acquire a customer is $10, but the contribution of the customer to the profit is only $9 […]
Considering the business point of view, it is valuable to deliberate of culture as presented at four diverse levels namely the national, business, industry and organization.
For instance, the Scandinavian countries rest an extremely significant value on individual liberty. They opposed efforts to bring in identity cards that are considered as an intrusion to their liberty. In comparison, identity cards are extensively allowed in many other nations.
For instance there are nations which explicitly display preferences for friendship and family connections in business operations. In such countries these attitudes are widely admitted and also required. For in certain other nation such attitude to work can be considered as dis-honorable.
For instance, academic institutions all over the world share definite cultural aspects like a faith in educational liberty, no matter to which national culture they belong. There will be certainly some dissimilarity among the cultures of academic institutions in diverse countries which happen from diversity in national cultures.
Such an organization has to perform business across national frontiers and it will entail handling many different national and business cultural differences. Therefore running a transnational business needs to adopt several types of cultural aspects into consideration. Cultural differences in consumer behavior, approaches to work and power and moral deliberations are typical instances.
Each one of these levels of culture will inter-relate with and influence the others. For instance, the culture of the organization will be based on aspects that will comprise of national culture, the business culture of the country, the culture of the industry of which the organization is a constituent and definite organization factors such the size and character of the business, the method of management.
Consideration has to be given to the different levels of culture while studying the influences of the different aspects of it on the strategy of an organization to sustain competitive advantage.
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