BUS201 Lecture Notes - Lecture 3: Bloomberg Businessweek, Nationstates, Omnipotence
15 Mar 2020
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Document Summary
Culture: set of values, beliefs, rules, and institutions held by a specific group of people. Nation-states support and promote the concept of national culture. Building museums and monuments to preserve the legacies of important events and people. Nation-states intervene in business to preserve treasures of national culture. Regulate culturally sensitive sectors of the economy. Subculture: a group of people who share a unique way of life within a larger, dominant culture. A subculture can differ from the dominant culture in language, race, lifestyle, values, attitudes, or other characteristics. Land features affect personal communication in a culture. Climate can play a role in determining habits. Avoiding ethnocentricity - ethnocentricity is the belief that one"s own ethnic group or culture is superior to that of others. Ethnocentricity can seriously undermine international business projects. A relationship may exist between culture and the costs of doing business in a country or region. Mnes can be agents of cultural change.
