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Lecture 5

AFM 333 Lecture 5: Chapter 5

6 Pages

Accounting & Financial Management
Course Code
AFM 333

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The Cultural Environment of IB Culture and Cross-Cultural Risk Culture the learned, shared & enduring orientation patterns in a society o Demonstrated through values, ideas, attitudes, behaviours Cross-cultural risk a situation/event where a cultural misunderstanding puts some human value at stake Cross-cultural risk is worsened by ethnocentric orientation (using our own culture as the standard for judging others) o Belief that ones own race/religion is superior to others Polycentric orientation a host-country mindset where the manager develops a strong affinity with the country they conduct business with Geocentric orientation a global mindset where the manager is able to understand a business/market without regard to country boundaries o Cognitive orientation that combines an openness & awareness of diversity The cross-cultural integration of firms is another manifestation of globalization leading to convergence of cultural values o Also essential to IB: misunderstandings can ruin business deals, harm company image Key Concepts of Culture Captures how people live, how they act towards others & defines values in how people view life What Culture is NOT Not right or wrong culture is relative b/c people simply perceive the world differently Not about individual behaviour culture is about groups b/c its a collective behaviour of each society Not inherited culture is derived from the social environment b/c people arent born with a shared set of values or attitudes Socialization and Acculturation Socialization the process of learning the rules & behavioural patterns appropriate to ones society o Subtle process; we adapt our behaviour unconsciously Acculturation the process of adjusting & adapting to a culture other than ones own o Experienced by people who live in other countries for extended periods The Many Dimensions of Culture High culture cultural makeup thats highly visible o Fine arts, drama, literature, classical music Folk culture cultural makeup we are aware of o Humour, religion, cooking, popular music, dress, diet Deep culture cultural makeup we are unaware of o Gender roles, family relationships, nonverbal communication, beliefs on rights vs wrong, concepts of beauty, methods of problem solving National, Professional and Corporate Culture Employees are socialized into these 3 cultures The Role of Culture in IB Developing products & services necessary to adapt marketing activities to suit market needs o KFC added Beijing chicken balls to menu in China Organizational structure firms can be decentralized, autocratic, bureaucratic, etc. Teamwork cooperating with partners in other countries to achieve common goals is critical Pay for performance system merit isnt the primary basis for promoting employees in some countries o Persons age is the most important factor in China/Japan Lifetime employment o Workers in Asian countries enjoy a pa
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