CHAPTER_3___Cultural_differences - CHAPTER 3 Understanding...

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CHAPTER 3 – Understanding the Role of Culture Why is cultural sensitivity or cultural empathy important for managing MNCs? Culture affects: 1. Market’s reaction to your product Market may be offended by certain products Market may not understand the use of certain products Market may not have supporting complementary products and services to support product use. 2. Human resources management Management practices Communication styles Leadership practices 3. Organizational practices Planning approaches Ability to conduct market or strategic analysis Emphasis on different management processes o Behavioral v. Outcome based management o Goal/profit orientation o Conflict v. consensus 4. Interactions with government, suppliers, and distributors Use of formal contracts Enforcement of contracts Uses of gifts to support relationships What is culture? The culture of a society is based on the shared values, understandings, assumptions, and
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CHAPTER_3___Cultural_differences - CHAPTER 3 Understanding...

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