All categories

3 years ago

Why understanding culture is important to business around the word?

Business

1 answer:

Kamila [148]3 years ago

8 0

Answer:

Understanding a country's culture is a sign of respect. It also helps to foster effective communication, a vital factor in business success. ... Values and attributes such as frugality, trust and endurance may be viewed differently in other countries.

You might be interested in

Give examples if operational conflicts that could occur in a cross- cultural context because of different attitudes towards:1) t

DanielleElmas [232]

The correct answer to this open question is the following.

Give examples of operational conflicts that could occur in a cross-cultural context because of different attitudes towards:1) time, 2) individualism.

Well, let's start with time. In the United States, time is of the utmost importance. There we have the old saying: "Time is money."

In the workplace, everything is based on the smart and efficient use of time. No time must be wasted in the workplace.

Individual effort is important in the American culture, but the team effort, the concept of being a good team player is very important under the following premise: teams can accomplish more than individuals.

What most Americans desire is individual recognition through team effort.

That is why team sports are so good in the United States because they exemplify the way teams function and what they can accomplish. For instance, college and pro football, basketball, and baseball.

The region that has a different approach, is Latin America. This does not mean that is better than the other, just that there are major differences between the two.

The management of time is very different in Latin American countries. It is not as important as the US. People in Latin America approach the concept of time in a more relaxed way. In Latin America, there is a more relaxed approach to time. Nothing is urgent, Things take time. Things are made at a different pace compared to the US.

And regarding individualism, Latin American people tend to prefer to be more individualistic to do things trying to get some recognition, The team concept is not as developed as in the US.

5 0

3 years ago

While an attribute is an inherent quality or characteristic of a product or service, a(n) _____________ is a result or outcome a

o-na [289]

Answer:

benefit

Explanation:

The characteristics define what a product is for, the benefits define the difference that our product has versus the competitive product and the motivators define how the characteristics and benefits of these products will help each individual customer. To say that the product will help a specific and unique customer is to show the real motivator of the purchase, that is, that specific benefit that by itself will make the customer buy the product. It reaches the end that the customer buys products for different benefits for which the product has been created. For example, a chair is used to sit, but at the same time it can be purchased as a decoration item (chair in the middle of a hallway) or used as a staircase in the kitchen.

4 0

2 years ago

An income property generates $9,200 per month, and is valued at $985,000. What is its gross rent multiplier

Alborosie

Answer:

107.07

Explanation:

Calculation for What is its gross rent multiplier

Gross rent multiplier= Income Property value/income property generated per month

Let plug in the formula

Gross rent multiplier= $985,000/$9,200 per month

Gross rent multiplier=107.07

Therefore its gross rent multiplier will be 107.07

8 0

3 years ago

3. The Johnson Company will pay an annual dividend of $2.05 next year. The company has increased its dividend by 3.5% a year for

vlada-n [284]

Answer:

A share of this stock be worth$ 21.88 four years from now

Explanation:

Amount of annual dividend that will be paid the next year = $ 2.05

increase in dividend by 3.5% = $\frac{100+3.5}{100}$ = increase by a factor of 1.035

Since there is a 14% return, overall increase in dividend = $\frac{1.035}{0.14 - 0.035}$ = 9.857

Note:

0.035 was obtained from $\frac{3.5}{100}$ = 0.035 (dividend increase)

0.14 was obtained from $\frac{1.4}{100}$ = 0.14 (percentage return required)

over the next 20 years his new value of dividend will be

New value of dividend = $2.05 + 9.857 = 11.907

Converting to a percentage,

$\frac{100+11.907}{100}$ = 1.1907

Net dividend increase =

Dividend returns minus increase in dividend for 20 years is given as

14% - 3.5% = 10.5%

From the above, the

Worth of a share of his stock 4 years from now can be computed by

(dividend X Percentage increase in 20 years)/ net percent dividend increase + (increase in 4 years/ net dividend increase) X 100

$\frac{(2.05 (1.1907)) }{10.5}$ + $\frac{(2.2729)}{10.5}$ × 100 =$21.88

∴ A share of this stock be worth$ 21.88 four years from now

4 0

3 years ago

Expalin how foreign employment contributes to spurring nation economy

erica [24]

1) Country can get lots of foreign currency as the remittance which can be used to establish industries in the country. Such industries provide job opportunities in the country. 2) People who go overseas to work can learn different skills and technologies which can be beneficial for the development of our own country.

5 0

3 years ago

Why understanding culture is important to business around the word?​

Why understanding culture is important to business around the word?