GGR221H1 Lecture Notes - Varieties Of Capitalism
Document Summary
"culture" is defined by shared beliefs and preferences of respective groups. Progra mmatic issues include whether and how much culture matters as to economic out comes and what its relation is to institutions. There is a great degree of variation in business practices & organization between nations. Difference is very visible in transnational companies. Culture matters because all economic activity is inherently social. A way of understanding the world common to a group. Geographic separation helps create cultural differences within organizations. Managers can encourage this to get around a resistant centralized bureaucracy or a stagnant corporate culture. Regions develop their own unique cultures that influence local economic practice. A result of influential local companies and people as well as spatial divisions of la s bor. These cultures can have a profound impact on the nature of economic developme nt and growth within a region. The social structures that underly economic interaction. Normalized & routinized patterns of behavior and practice.
