Caribbean Business Environment & Culture

Question 1

Characteristics of Caribbean Business Environment

Answer 1

1) Narrow Product Base
2) Limited Export Capacity
3) Prefential Agreements
4) Poverty
5) High rates of unemployment
6) Low literacy rates
7) unskilled labour forces
8) poor capital market structure
9) Lack of technology
10) Limited Government support
11) Increasingly Competitive International market

Question 2

Factors Affecting Business Culture

Answer 2

1) Environment
2) Communication
3) Leadership
4) Employee Attitudes
5) Daily Procedures

Question 3

The Environment

Answer 3

business environment affects its culture. Will also affects managers style

Question 4

Benefits of Culture

Answer 4

1) Strongly positive culture improves loyalty of employees and customs
1) Motivates employees and increased productivity
3) Understanding of culture fosters cohesiveness

Question 5

Limitations of Culture

Answer 5

1) Conflict
2) Some businesses are too large and it is difficult to communicate to employees