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GGR221H1 (54)
Lecture

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Department
Geography
Course
GGR221H1
Professor
Ben Spigel
Semester
Summer

Description
Culture and economy  '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  Away 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  Does not require a large distance Regional culture  Regions develop their own unique cultures that influence local economic practice s  Aresult of influential local companies and people as well as spatial divisions of la bor  These cultures can have a profound impact on the nature of economic developme nt and growth within a region  Examples: inter-firm cooperation or unionization Institutions  The social structures that underly economic interaction  Normalized & routinized patterns of behavior and practice  Necessary for coordination of economic activities Formal institution  Law and government regulation  O
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