Week 12 Flashcards
What is culture ?
Culture is a system of shared:
beliefs
values
customs
behaviours
What are Main components of culture?( Part 1)
Language
Language is a system of communication made up of symbols and rules. It enables people to convey their thoughts, feelings, ideas, and cultural values to others.
Symbols
Symbols are objects, actions, sounds, or images that represent something beyond their literal meaning.
They play a key role in expressing complex ideas and are often tied to cultural identity, such as national flags or religious icons.
What are Main components of culture?( Part 2)
Norms
Norms are the guidelines and expectations that shape the behaviour of individuals within a society.
Folkways are informal norms that dictate everyday behaviour, like dress codes or table manners.
Taboos are actions that are completely prohibited or frowned upon, like incest or cannibalism. Norms maintain social order by regulating acceptable conduct.
Values
Values are the shared beliefs about what is considered good, just, or desirable within a
society. They influence behaviour and help establish social goals and ideals.
What are Main components of culture?( Part 3)
Beliefs
Beliefs are ideas that people hold to be true, regardless of whether they are supported by evidence. These can include religious faith, political views, or even cultural myths, shaping how people perceive the world.
Customs and Traditions
Customs and traditions are long-established practices or behaviours that are passed down through generations. They contribute to a culture’s stability and continuity over time.
Religion
Religion consists of beliefs and practices cantered on the sacred or spiritual. It provides moral guidance, answers to life’s profound questions, and a sense of community. Religion often influences laws, art, and education within a culture.
How does culture impacts business? (Part 1)
Decision-Making
In cultures that encourage risk-taking, innovation and entrepreneurship tend to boom. (e.g., startups in Silicon Valley often take bold risks to drive new ideas forward).
Consensus Building
In cultures that prioritize consensus, decision-making can take longer, but it ensures that everyone is on board. (e.g., in Japan, reaching consensus in business meetings can delay decisions but promotes collective agreement).
How does culture impacts business? (Part 2)
Employee Engagement
When employees share the same values as their organization, they are more likely to be motivated and engaged. (e.g., firms that promote sustainability
may attract passionate employees dedicated to environmental causes.
Communication Styles
Different cultures prefer different communication styles. (e.g., Americans often favour direct communication, while in Japan, communication may be more subtle and indirect).
How does culture impacts business? (Part 3)
Negotiation Styles
Cultural differences influence negotiation approaches. (e.g., negotiators in the U.S. may be more assertive, while in China, negotiations may focus more on building relationships).
Hierarchy
The level of respect for authority varies across cultures. (e.g., in South Korea, strong respect to hierarchy is common, whereas Scandinavian countries tend to have a more democratic approach).
How does culture impacts business? (Part 4)
Cultural Sensitivity
Understanding local culture is critical for success in marketing. (e.g., an ad campaign that works
in the U.S. may need to be adjusted for countries like Saudi Arabia, where cultural norms differ
greatly).
Cultural Adaptation
Businesses expanding globally must modify their practices to fit local customs. (e.g., fast-food
chains in India offer vegetarian options to align with local dietary preferences).
Cultural Challenges
Failing to recognize cultural differences can lead to business setbacks. (e.g., a company that doesn’t understand the cultural nuances of a new market might struggle to connect with customers, leading to poor sales).
What is a social environment?
Social characteristics vary from country to country:
Demography—population size, growth, and structure
Education—levels of literacy and educational
achievement
The nature and extent of divisions in societies
What is a demography?
Demography is the study of population.
Business point of view the key areas of interest (e.g.,
age, gender, geographical distribution).
As populations grow in size, the demand for many
types of goods and services also tends to grow (e.g.
energy, consumer durables, food).
A growing population also provides a larger workforce,
other things being equal.
What is Migration?
Migration is the movement of people from one place to another, due to:
Push factors – escape from poverty, natural disasters, religious persecution
Pull factors – prospect of work and economic betterment
Increase demand of ethnic goods and services (e.g. food products, clothing and media services)
Some researchers argue that a more diverse workforce can improve an organisation’s performance.
What is equity?
Equity is another common social policy
objective.
Equitable outcomes are measured mainly in
terms of access by people to resources.
It includes the ability to access social
services and economic opportunities.
What is social class?
Social class: grouping together people who share a
similar social status which is related to certain common
features such as educational background, income and
occupation.
What is social mobility?
Social mobility: moving between different social layers
(upper middle class, middle class, working class) as
personal circumstances change.
What is income inequality?
Income Inequality is the difference in wealth and income between the richest and poorest
What is social protection?
Social protection consists of policies and programs designed to reduce poverty and vulnerability by promoting efficient labour markets, diminishing people’s exposure to risks, and enhancing their capacity to manage economic and social risks, such as unemployment, exclusion, sickness, disability, and old age.
What is development?
Development comprises economic and other
indicators of well-being
What is HDI?
HDI is a combination of three indicators to give a
fuller picture of well-being than economic data alone:
Economic indicators
Health, including life expectancy
Education
