BUS 346 Lecture Notes - Lecture 5: Social Stratification, Inferior Good, Normal Good

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 346
• Professor: Chang H Oh

Document Summary

Case study: mcdonald"s and its challenges worldwide: a market by market look. Latin america: local competition and depression (decreased mcdonalds" sales since they are a normal good there) Europe: economic downturn (increased mcdonalds" sales since they are an inferior good there) Global companies have different concerns given the same macroeconomic conditions in different markets. International culture: importance of culture in different business contexts. Components of culture, national stereotypes and key dimensions of culture (e. g. hofstede"s 4 cultural dimensions), cross cultural management, forms of management (perimutter, hq subsidiary) Components of culture: aesthetics, values & attitudes, manners & customs, social structure, religion, personal communication, education, physical environments. Aesthetics: "good taste" in the arts, imaginary, evoked by certain expressions, symbolism of certain colors. Values: ideas, beliefs, and customs to which people are emotionally attached. Attitudes: positive or negative evaluations, feelings and tendencies people hold towards objects or concepts. Manners: appropriate behavior, speech and dressing in general.