<u>Higher </u>uncertainty avoidance (e.g., Greece, Portugal, and Uruguay) is associated with a need for structure, avoiding differences, and very formal business conduct governed by many rules, whereas a <u>lower </u>uncertainty avoidance (e.g., Singapore, Jamaica, and Hong Kong) is characterized by an informal business culture, acceptance of risk, and more concern with long term strategy and performance than with daily events.
<u>Explanation</u>:
Uncertainty avoidance refers to the degree of anxiety people feel in uncertain or unfamiliar situations. It ultimately refers to one’s search for Truth.
<u>Higher uncertainty avoidance: </u>It is associated with a need for structure, avoiding differences, and very formal business conduct governed by many rules.
<u>Lower uncertainty avoidance</u>: It is characterized by an informal business culture, acceptance of risk, and more concern with long term strategy and performance than with daily events.
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