1. CULTURE, BUSINESS CUSTOMS AND PRACTICES

2. WHAT IS CULTURE? Human-made part of the human environment The group’s design for living Markets and market behavior are part of the culture Markets are constantly adjusting to cultural demands Markets act as agents of change

3. CULTURE AND BUSINESS CUSTOMS CULTURAL SENSITIVITY AND TOLERANCE : Key to success Business customs = an element of culture Lack of knowledge of business customs Knowledge required: –business culture –management attitude –business methods

4. BUSINESS CUSTOMS 3 GROUPS OF BUSINESS CUSTOMS Imperatives Adiaphora Exclusives

5. BUSINESS PRACTICES MODES OF DOING BUSINESS Sources and Levels of Authority –top-level management decisions –decentralized decisions –committee decision making

6. BUSINESS PRACTICES COMMUNICATION EMPHASIS Context –High Context Cultures: explicit, verbal communication Where found? –Low Context Cultures: “Direct and to the point” Approach Where found?

7. BUSINESS PRACTICES: Formality and Tempo POLYCHRONIC Completion Simultaneity Relationships Expect delays Where found?

8. BUSINESS PRACTICES: Formality and Tempo MONOCHRONIC Linear quality to time Small units of time Promptness Where found?

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