Global Business Cultural Analysis: Greece - Research Paper Example

Global Business Cultural Analysis: Greece Introduction Owing to increasing globalization and competition in today’s business world, organizations are looking for new and different markets. For this reason most of the organizations are moving to international markets. Cultural understanding is inevitable in international business and should be kept in mind for successful business. When conducting such business, it must be kept in mind that understanding the norms, values and the local culture is vital. Such understandings can shape the future of the business. If the culture is misunderstood, the business will not be culturally accepted. Culture plays a vital role in life of people and it determines the success and failure of the business. By fully understanding and grasping the traditional culture and accepting change regarding the culture the organization can improve the chances of business success and strengthen the working relationship between the countries. Understanding the culture is important because sometimes businesses are not aware regarding the traditions of the country in which they are trying to conduct a business and ends up losing all their capital (Test, 2009). In this report an attempt has been made to understand the local culture of Greece and evaluate the country for international business on the basis of cultural values and traditions. Apart from this the culture of Greece has been compared with the culture of United States and necessary recommendations have been provided to the US organizations who want to enter into the market of Greece. Introduction to the Country With a population of just 11 million, Greece is one of the most developed countries with a modern economy. In Greek, 98% of the people living in the country have Greek Citizenship [1]. With an average life span of 81 years for women and 76 years for men, Greeks have one of the highest life expectancy rates around the globe. This is proof of their healthy lifestyle coupled with an enviable climate. Greece is a country with is characterized by different cultures, distinct by its location as it connects the East and the West. The spirit when talking about their culture and country is high, as Greeks feel that their culture is a definition of what they are today. The rate of Greeks living in urban areas is 60% which shows that Greeks have evolved with the passage of time. However, their culture mostly remains unchanged and majority of the Greeks are still following the same religion as their ancestors i.e. the Orthodox Christianity. High education is the aim of Greeks and 97.5% of Greeks are educated and can read and write. The island of Greece is located at the southeast end of Europe and with unique physical features attracts millions of tourists from around the world every summer. Due to special weather and large amount of sunshine, thousands of visitors come to Greek islands in order to spend their holidays every year. The Island of Greece is located just between many modern countries. In the north, the country shares a border with Albania, Bulgaria and FYROM (Former Yugoslav Republic of Macedonia), with Turkey in the east and the great Mediterranean Sea in the south. 80% of Greece is blessed with a unique topography of mountainous and hilly areas further enhancing its charm as a tourism spot. Hardly any other country can boast about 2000 islands with a distinct culture, healthy atmosphere and modern luxuries of life. The highest point in Greece is at Mount Olympus, the residence of the Greek Gods. The climate of this modern island is primarily Mediterranean, which means that the weather remains the same the whole season and hardly changes. Major Elements and Dimensions of Culture in Greece There are more than 2000 islands showing unique variation in cultures but all the islands have the same Greek identity rooted in the history and the religion that is mostly followed is Christianity. These islands have a long history of rulers and successors one after another. Diversity and richness are special features of Greek's culture, reflecting the unique position and location. The country's location allows it to play a key role at a point where the Eastern ideology meets the Western ideology. Following are the cultural elements and dimensions of Greece: Population and Language The population of Greece is around 11 million with working population of about 4 million. The Attica area which includes the Athens and Piraeus; is the hub of the activities related to trade and commerce and for this reason around 40 percent of the total population of Greece lives in this area. Greek is the official language of the country followed by. English is also spoken and understood widely in Greece followed by French and German (Hatzis, 2012). History of Greek Greece is one of the oldest civilizations of the world and supporter of western culture. The first races to live in Greece were Cycladic, Minoan and Mycenaean civilization that lived and ruled during the Bronze Age (3000-1200 BC). After the complete destructions of the civilizations, the country fell into Dark Age. 800 BC marked the rebirth of the civilization based on culture and military and the cities like Sparta and Athens became the most popular cities in the world. The city of Athens soon became the greatest naval power of Greece after the revival and developed all domains of culture including philosophy, music, drama and a new administration, 'democracy'. But this development of Athens ended with the Peloponnesian War (431-404 AD), in which Athenians were completely destroyed by the Spartans (Hatzis, 2012). Alexander the Great guided the Macedonian empire; his legacy ruled the country for three dynasties which is known as the Hellenistic period. The country is also known by this period and is named after this golden period. During this time, Greek ideas and culture was merged with other ancient cultures and a new and unique tradition was created. Soon Greece came under the powerful Roman Empire, these influences combined to create a new unique culture. During WWI, Greece supported the Allied forces, but the economy of Greece weakened even with the help of Allied forces, giving Germany a chance to take control over the country in 1941. The economic problems and destruction ultimately led to a civil war that lasted until 1949 (Hatzis, 2012). Religion Around 98 percent of the people are Orthodox Christians, with over 1 percent Muslims and small numbers of Jews, Roman Catholics, and members of Protestant denominations. The most important religious custom is the Easter and the Holy Week that precedes it. Many Greeks are strict followers of the religion and it can be seen most of the times in the daily life of a Greek (Hatzis, 2012). Social Norms and Ethics Greeks are known for their support and collectivism. They consider relationship far more important than business. They have clear rules and regulations for behaving within a society and their culture binds them tightly into groups rather than acting individually. Maintaining eye contact when communicating with someone is, perhaps, one of the most important norms in Greek culture as it is believed to be a symbol of personal empowerment. Greeks respect their elders and make decisions based on relationships. Greeks are fond of relationships but usually avoid discussions on personal relations with others (Robinson and Venieris, 1996). Touching, hugging and kissing are just a way to appreciate and admire others in the conversation. They put a lot of importance on good appearance and to follow fashion closely, as first impressions are always valued in Greek culture. Values and Attitudes Family life in Greece is considered absolutely important. The Greeks value their family in order to protect, nourish and emotionally support its members. Such love and care for their family is the reason for which others deeply admire Greek values. In Greece society, family is king and property is passed through the female line - not the male. Greeks often are curious and want to know what everyone is up to, not for the sake of gossip or interference but it is just the intelligence that the Greek society breathes with. The Greeks treasure the family honor as it is everything for a Greek and disrespect to the honor means uncertain scolding (Peppas and Peppas, 2000). Manners and Etiquette The hospitable nature of Greeks makes them friendly and polite. They consider the greetings seriously as it shows respect and honor. When Greeks meet each other, they shake hands firmly. Maintaining quick eye contact is considered an act of showing respect and admiration for one another. Kissing on the cheeks is a sign of admiration and is culturally acceptable, in fact it is appreciated (Peppas and Peppas, 2000). Greeks consider hospitality as pleasure as well as responsibility. Greeks consider rejection of what is offered by the guests as an insult to them. Trust is vital, even more important than the qualification or performance (Fraser and Zarkada-Fraser, 2002). Education Education is the basic mission of the country, and by doing so, the Greeks feel they have fulfilled their destiny as a responsible citizen. In order to be a successful nation, Greeks lay great importance on educating the young ones. In Greece, education is free for all children from 6-15 years old. The costs and expenses for educating the young ones are borne by the government. The government is responsible for providing the textbooks to students. The Greek education system consists of Primary, Secondary and Tertiary education level. English is the secondary language in Greece and is compulsory from 4th grade through high school. Books in high school are also provided by the government only if the student fulfills the pre set standards and requirements. Educating the younger generation is under the control of Ministry of National Education and Religious Affairs. Private universities are not recognized by the government and their degrees are not considered important by the Greeks, however, there are campuses of foreign universities in Greece. Communication Greeks are loyal to their nation and tend to speak their first language. The deepest memories and their attachment to these memories are reflected by their national language. Greek language is clearly preferable in the whole country. When communicating with someone mother language is used, as they are of the belief that mother language has helped to make them who they are. Apart from their mother language the Greek people are also fluent in English language. Greeks use loud tones in conversation and are more emotional as compared to the people from rest of the world (Nakos and Hajidimitriou, 2009). Interruption often takes place as Greeks are good at understanding what is conveyed to them. By just understanding the concept of the discussion they tend to answer the question even before the question is completed. Gestures are often used to convey the message. An example of such includes shaking the head when they want to convey that they do not know what is being said. Using open arms and hand signs when speaking is common in Greeks. Even physical contact is common, even between two friends of same gender. It is rarely seen that the Greeks address another person with their second name and for higher business levels they may add the title of Mr. or Ms. as a sign of respect before the first name. Social Structure and Organizations Greeks are fond of collectivism as their religion holds it important for them to live and support each other. For this purpose, Greeks live in close-knit families and this culture of giving importance to the family has made the social organizations to adopt the idea of family in the organizational culture. Family in Greece refers to the person related by blood or marriage or people living under the same roof. Even the National Statistical Service of Greece considers people living under one roof as family member (Nakos and Hajidimitriou, 2009). Although the lifestyle of family have evolved from rural to urban under the modern system, women in Greece are considered a bond to hold the family together. The ability to carry out daily household duties rests on the shoulder of women in Greek society whereas the male fulfill the duty to support the family in a very positive way (Nakos and Hajidimitriou, 2009). It is a common practice in Greece for the relatives of the family to work for the same company because Greeks prefer doing business with those who they trust and can rely on. The respect of age and position can be clearly seen in Greek society. Major Elements and Dimensions of Culture and Business in United States Religion United States is officially neutral when it is the matter of religion. The country does not have a religion of its own so it does not support any specific religion. The country treats all of its citizens equally regardless of ethnic classification or religion. The country even guarantees free exercise of religion and forbids establishment of religious governance. For such sole purpose, the country even passed a law in the constitution where all the citizens are free to follow the religion they find suitable (Asher, 2007). The major religions followed in US are Protestant (Christians that believes to be judged by faith and not by the Pope, due to this belief they deny the authority of Pope over themselves) accounted for approximately 52%. Roman Catholics are the second largest followers of the religion and are accounted for 24% of the total population while Muslims in US are only 1% of the total population and lastly the Jews are only 1%. Social Norms and Ethics Time is considered as money in US and for this sole purpose they are known for their seriousness in business deals. They value their personal space and privacy. They rarely feel comfortable when people try to breach their personal space during conversation. Maintaining eye contact during conversation is just another gesture of Americans to appreciate and show respect to another person. They value interacting with others and take interest in what other person is saying. Values and Attitudes For an American, family is the best thing they have in the entire world. They cherish their family and try to stands with the family member on the same ground. For Americans, family does not just love each other but they work on the belief that care and proper support can help a family to be healthy. Americans not only value family but also values punctuality. They expect things to be done on appointed time. Time is considered as money for them; everything has to be done on time including meetings, services, and deliveries. Individuality is the basis of the unique personality that Americans possess. Dependency on others is severely discouraged from early ages. They are a nation that encourages developing their own goals in life. Dependency on others such as friends, teachers and parents are considered unacceptable in the society and depending on someone is considered a weakness. Privacy is another important aspect that is valued by Americans. They enjoy spending time alone. Foreigners might find homes and offices open for them all the time but, for an American, what is inside the mind is considered personal. They try to solve their problems without anyone’s help. The differences among Americans are solved face-to-face and in front of all the people. They do not care about anyone's presence when solving a conflict. From small age, they are encouraged to ask questions and to give reasons to support their answers. This habit of questioning might be considered rude by other cultures. Manners and Etiquette Every American is considered unique, special and equal from early childhood and is brought up differently as compared to other countries. They need personal space as they consider it as their right and tend to be comfortable with it during conversation. In conversations Americans consider the act of touching unethical. Only close family members and friends are hugged and kissed in America. Shaking hands and maintaining eye contact is one of the basic greeting manner taught at schools in America. Showing respect to elders is one of the good manners in the globe but in America it is acceptable to speak to any member of the group first ignoring the aspect of age. This act is not considered as an insult in America. This, in America, is a sign of equality and the society does not disagree to limit the greetings to the elderly first. Education Education in US is considered important for all. Education in US is provided by the public sector and the expenses are funded from the government. Child education is compulsory in US. The age for compulsory education vary by state, beginning from five to eight years and ending on fourteen to eighteen years (Asher, 2007). Private and local schools are the source for education in United States. The government nearly bears the cost of compulsory education and uses up to 5.7% of the total GDP for providing education to the citizens for free. The duration for the compulsory education defined by the United States is 12 years or grades enrolled in a school. Communication Informal way is used when communicating with others. Americans are used to beat about the bushes but are rather polite and friendly. They are open in conversation and sometimes they might tell a stranger one of their secrets. When they interact they are used to ask personal questions regarding the marital status or about the income which is sometimes considered impolite by others but for Americans it is not considered impolite (Christie, Kwon, Stoeberl, and Baumhart, 2003). When interacting with anyone, Americans are used to taking first name of the person even at initial meetings or at any social place. By using the title Miss. or Mr. or Mrs. they tend to pay their respect and wait eagerly for the others to do the same. When having a conversation they like to have their personal space and privacy maintained and they usually try to avoid conversations regarding politics and religion. Social Structure Top management and the senior managers are the ones to make decisions in the United States. Often managers are given the authority to take decision based on intuition and personal judgments. The hierarchy in American organizations is crystal clear making it easy for the employee to contact the management easily. Individuality is preferred for children’s in America and they are expected to stand on their feet as soon as possible. The children are expected to cover their expenses by the age of 20 and anyone still living with their parents is considered a weakling in American society. For a positive reaction from the society each citizen is expected to earn for himself and to make the most out of his youth and life (Palazzo, 2002). Comparing US and Greek Culture It is important or any US organization and personnel aiming to start business in Greece, to first understand the differences in the culture of the both countries. Some of the differences between the US and Greek culture, are as follow: Personal Space Greeks prefer standing close to each other when having a conversation. The distance becomes greater when interacting with strangers and less when interacting with friends or family members. On the other hand, Americans value their personal space and are comfortable with 3 feet of space when interacting with others (Harris and Verven, 1996). There is a fair amount of touching in Greeks when interacting with others. On the other hand, Americans interacts with others with little or no touching during conversation. Displaying of affection is quite common between Greeks but on the other hand, Americans reserve such affection for close family members or friends. Communication Style Greeks tend to speak in loud tone with a lot of emotions. Whereas, Americans tends to speaks in a direct informal manner with politeness. Greeks usually prefer speaking their mother language i.e. Greek language. On the other hand, Americans prefer conversation in English (Harris and Verven, 1996). Value of Time Greeks place more importance on people and their relations than following set of schedules in social situations. Whereas, Americans value punctuality and expects everything on its time (Harris and Verven, 1996). Business Meetings In US, meeting agendas are common and usually followed carefully and timely. In Greece agendas are made but not followed closely (Harris and Verven, 1996). Relationship Greeks prefer to do business only with whose they know and trust. Whereas, Americans tend to do business as they believe in equality and individuality. Greeks prefer face-to-face meeting rather than doing business by telephone or in writings, and consider such business unfriendly, whereas, Americans focus highly on conducting business through effective mediums such as internet or telephones. Greeks need time to understand and trust others when conducting a business. They use business meetings in order to analyze the personality and by the third meeting, the business officially starts. Whereas, Americans like to get down to the business directly, with little time to understand each other (Harris and Verven, 1998). Interruption Americans consider interrupting an offence and a sign of disrespect. But on the other hand, Greeks are fond of interrupting, not for offending others but to show that they are interested and part of the conversation as all other members of the meeting or conversation (Harris and Verven, 1996). Mispronunciation of Name As most of the names in Greece are owed to the saints and are sacred, they consider it an offence to mispronounce someone’s name. Names in America are not considered sacred and mispronouncing them leads to laughter (Rothschild, 2000). Cultural Implications for US Business in Greece In order to make sure that the business venture in Greece will be success, US organizations should keep in mind certain cultural factors and implications before entering the corporate sector of Greece. Some of these cultural implications are as follow: Punctuality of time is often not practiced in Greece. For a social event, being late by 30 minutes is considered as punctual in Greece. Whereas, the American value time as money. In a meeting the foreigners are expected to be present before the appointment time even if the foreigners have to wait. Expressing love and respect is common in Greece. When conducting a business in Greece, Americans must accept their culture and be mentally prepared of being kissed, hugged and even patted on the back. Greeks do not easily trust people they do not know. So, it is wise to find a local partner that would assist in negotiations, as the Greeks place great value in relationships as compared to business. Criticisms regarding the culture or the history should be avoided as Greeks are very much passionate about their distinctive culture and history; even if the Greeks criticize their lifestyle, there should be no cross criticism. People having a sense of superiority are greatly disliked by the Greeks. There it is advised that one should avoid being a showoff. To fit in with local culture, it is essential to learn the local customs as it helps to create good relations with the locals and avoids miscommunications. For conducting business in Greece, face-to-face meetings are given importance as it seems more legitimate and Greeks do not trust documents as they consider business deals on papers to be impersonal. Fashion is one of the trends that can attract the Greeks. Greeks believe on "First impressions" and like to wear modern and fashionable clothes for even walks. Jeans is considered as unacceptable in the Greek society. Greeks focus on understanding each other and for them relations are more important than the business. They take time understanding an unfamiliar person and for developing trust and respect. Imposing deadlines and hard selling tactics may backfire when negotiating with Greeks as they are skilled negotiators and take deadlines as impolite and rude. Gestures such as “thumbs up” should be avoided as it is considered rude in the Greek culture. Interruption is common in Greeks to show that they are part of the conversation, and is not intended to disrespect others. It has to be ignored when conducting business in Greece. Mispronouncing a name and making fun about it can lead to immediate cancellation of the business. Conclusion For conducting a business in an international country such as Greece, tradition and culture should be fully understood as religion plays a dominant role in Greece. Things that might be accepted in US culture might not be accepted in Greece and could lead to disaster and failure from the start. Establishing trust is the most important aspect that might be considered when conducting a business relation in this country as relationship are considered more important than the business. Cultural barriers should be eliminated before entering marketplace of Greece. These cultural barriers might include etiquettes, establishing trust, religious belief, social habits and the communication style. However, in the current economic situation of Greece, might not be the suitable time to enter the marketplace of Greece. The economy of Greece is in disastrous situation with high tax rate and low customer faith in the market. The purchasing power of customer has even been reduced as the currency of the country has devalued. Such situations of the currently are making the business already settled in the country with different problems (Mitsopoulos and Pelagidis, 2009). Based on the culture, US business could be easily established in this country as most of the norms and values in a culture are similar and do not vary much. The common culture and the tradition will make it easy for the business to be accepted by the locals. Both the country even share the same Unions and both play a vital role in the modern world. There are some cultural differences; however it is possible to eliminate these differences by understanding and respecting the local culture. By understanding the culture, the company would be able to manipulate the strategies and could reap impressive market share and high profit ratio in the initial years of the business. References Asher, N. (2007). Made in the (Multicultural) U.S.A.: unpacking tensions of race, culture, gender, and sexuality in education. Educational Researcher, 36(2), 65-73. Retrieved November 1, 2012, from http://edr.sagepub.com/content/36/2/65.short Christie, P., Kwon, I.K., Stoeberl, P., and Baumhart, R. (2003). A Cross-Cultural Comparison of Ethical Attitudes of Business Managers: India Korea and the United States. Journal of Business Ethics, 46(3), 263-287. Retrieved November 1, 2012, from http://link.springer.com/article/10.1023%2FA%3A1025501426590?LI=true Fraser, C., and Zarkada-Fraser, A. (2002). An exploratory investigation into cultural awareness and approach to negotiation of Greek, Russian and British managers. European Business Review, 14(2), 111 – 127. Retrieved November 1, 2012, from http://www.emeraldinsight.com/journals.htm?articleid=868822&show=abstract Harris, A., and Verven, R. (1996). The Greek-American acculturation scale: development and validity. Psychological Reports, 78, 599-610. Retrieved November 2, 2012, from http://www.amsciepub.com/doi/abs/10.2466/pr0.1996.78.2.599 Harris, A., and Verven, R. (1998). Acculturation as a determinant of Greek-American family vlaues. Psychological Reports, 83, 1163-1172. Retrieved November 2, 2012, from http://www.amsciepub.com/doi/abs/10.2466/pr0.1998.83.3f.1163 Hatzis, A. (2012). Greece as a precautionary tale of the welfare state. Retrieved November 1, 2012, from http://users.uoa.gr/~ahatzis/Hatzis_2012_09.pdf Mitsopoulos, M., and Pelagidis, T. (2009). Economic and social turbulence in Greece: the product markets are a no-brainer, the labor market is not. Intereconomics, 44(4), 246-254. Retrieved November 2, 2012, from http://link.springer.com/article/10.1007%2Fs10272-009-0302-2?LI=true Nakos, G. E. and Hajidimitriou, Y. A. (2009). Conducting business in Greece: A brief for international managers. Global Business and Organizational Excellence, 28(5), 70–83. Retrieved November 2, 2012, from http://onlinelibrary.wiley.com/doi/10.1002/joe.20279/abstract Palazzo, B. (2002). U.S.-American and German Business Ethics: An Intercultural Comparison. Journal of Business Ethics, 41(3), 195-216. Retrieved November 2, 2012, from http://link.springer.com/article/10.1023%2FA%3A1021239017049?LI=true Peppas, S., and Peppas, G. (2000). Business ethics in the European Union: a study of Greek attitudes. Management Decision, 38(6), 369 – 376. Retrieved November 2, 2012, from http://www.emeraldinsight.com/journals.htm?articleid=865154 Robinson, C. and Venieris, G. (1996). Economics, Culture, and Accounting Standards: A Case Study of Greece and Canada. Canadian Journal of Administrative Sciences, 13(2), 119–131. Retrieved November 2, 2012, from http://onlinelibrary.wiley.com/doi/10.1111/j.1936-4490.1996.tb00109.x/abstract Rothschild, K. W. (2000). Europe and the USA: Comparing What with What? Kyklos, 53(3), 249–264. Retrieved November 1, 2012, from http://onlinelibrary.wiley.com/doi/10.1111/1467-6435.00120/abstract Test, M. (2009). National culture, leadership and citizenship: Implications for cross-cultural management. International Journal of Hospitality Management, 28(1), 78-85. Retrieved November 2, 2012, from http://www.sciencedirect.com/science/article/pii/S0278431908000273 Annotated Bibliography Asher, N. (2007). Made in the (Multicultural) U.S.A.: unpacking tensions of race, culture, gender, and sexuality in education. Educational Researcher, 36(2), 65-73. Retrieved November 1, 2012, from http://edr.sagepub.com/content/36/2/65.short In this research paper, the author, Asher has explored and analyzed the different aspects associated with the multicultural United States of America and its impact on its education. These elements include race, culture, gender, and sexuality. This research paper provides the readers with the overview of the multicultural United States of America and its impact on different areas, more specifically on the education. The researcher has used this journal article to understand and comprehend the impact of the different cultures prevalent in United States of America on the overall ethical and cultural values of the country. This in turn has allowed the researcher to explore the research question related to the cultural dimensions of the United States of America and the comparison of these cultural dimensions with those of Greece. Christie, P., Kwon, I.K., Stoeberl, P., and Baumhart, R. (2003). A Cross-Cultural Comparison of Ethical Attitudes of Business Managers: India Korea and the United States. Journal of Business Ethics, 46(3), 263-287. Retrieved November 1, 2012, from http://link.springer.com/article/10.1023%2FA%3A1025501426590?LI=true In this research article, the authors, Christie, Kwon, Stoeberl, and Baumhart have compared the ethical attitudes of business managers from different regions with special focus on India, Korea, and United States of America. The article provides the readers with important aspects and dimensions of the cultural and ethical values of the business managers of the three countries. The researcher has used this article in order to explore and understand the cultural and ethical values of the business managers of United States of America. This in turn has allowed the researcher to find answers to the research questions related to the exploration of the differences between the culture and business elements of United States of America and culture and business dimensions of the Greece. Fraser, C., and Zarkada-Fraser, A. (2002). An exploratory investigation into cultural awareness and approach to negotiation of Greek, Russian and British managers. European Business Review, 14(2), 111 – 127. Retrieved November 1, 2012, from http://www.emeraldinsight.com/journals.htm?articleid=868822&show=abstract In this research article, Fraser and Zarkada-Fraser have explored and investigated the overall cultural awareness and approach to negotiation of managers belonging to three different countries which are Greece, Russia, and British. This in turn has provided the opportunity to the readers to understand and comprehend the negotiation style of the Greek managers along with the level of cultural awareness of these managers. This in turn has facilitated the researcher in understanding the impact of culture on the negotiation skills of Greek managers. The researcher has used this article in order to explore the answer to the research question related with the cultural dimensions and elements of the Greece and impact of these cultural dimensions and elements on the behavior and practices of the local managers in the region. Harris, A., and Verven, R. (1996). The Greek-American acculturation scale: development and validity. Psychological Reports, 78, 599-610. Retrieved November 2, 2012, from http://www.amsciepub.com/doi/abs/10.2466/pr0.1996.78.2.599 Harris and Verven in this article analyze the cultural differences of people from Greece and America. The main aim of this article is to identify important cultural values and beliefs of the culture and what are the most important and common values between the two. The researchers have conducted the research in three different and organized steps in order to examine the cultural differences between Greece and America. The researchers first of all have asks from people who are familiar with both the cultures i.e. Culture of Greece and Culture of America to list the cultural beliefs and values. Then the researchers have questioned from the Anglo-American group. In the next step, the researchers identified the most common beliefs and then in the third step the researchers identified the most important beliefs by rating them accordingly. Therefore the researchers in this research have examined the most important values that are similar between the culture of Greece and America. Harris, A., and Verven, R. (1998). Acculturation as a determinant of Greek-American family vlaues. Psychological Reports, 83, 1163-1172. Retrieved November 2, 2012, from http://www.amsciepub.com/doi/abs/10.2466/pr0.1998.83.3f.1163 Harris and Verven (1998) conducted research to analyze the culture of Greece and Americans. In order to conduct the research and study the cultural factors between the two cultures, the researchers have divided the 64 factors into 4 major categories and then data has been collected to analyze the differences. In their research they have identified that there were several hierarchical family values on which there were difference of opinion between the two cultures. Also some of the factors related to Parental control were found to have conflicting views as well between Greek and Americans. However, traditional values as well as family honor factors tend to give similar results and both Greek and Americans have similar values in these categories. Therefore this research has been informative in terms of analyzing important factors related to the cultural values and the difference of culture between Greek and Americans. Hatzis, A. (2012). Greece as a precautionary tale of the welfare state. Retrieved November 1, 2012, from http://users.uoa.gr/~ahatzis/Hatzis_2012_09.pdf In this paper the writer, Hatzis, has presented the overview of the Greece as a welfare state and has presented different aspects and cultural dimensions of the country along with the history of Greece. This paper has allowed the researcher to analyze and explore the history of Greece along with the ongoing changes and evolution in the cultural dimensions and values of the country. The paper has helped the researcher in understanding the overall culture of the country along with the role played by the government and other related stakeholders in different time periods. This in turn has enabled the researcher to answer the research questions regarding the major elements and dimensions of the culture in the country of Greece with special focus on history, religion, and the role of the government. Mitsopoulos, M., and Pelagidis, T. (2009). Economic and social turbulence in Greece: the product markets are a no-brainer, the labor market is not. Intereconomics, 44(4), 246-254. Retrieved November 2, 2012, from http://link.springer.com/article/10.1007%2Fs10272-009-0302-2?LI=true In this research article, the writers, Mitsopoulos and Pelagidis have presented and analyzed the economic and social turbulence in Greece and its impact on different markets. This paper provides the readers with the detailed overview of the economic and social conditions of Greece and in turn evaluates the attractiveness of the Greek market for the international investors. Hence, the paper has facilitated the researcher in the process of exploring and analyzing the attractiveness of Greece for the international investors from United States. Along with the cultural aspects, this paper has provided the opportunity to the researcher to explore and investigate the social and economic implications of doing business in Greece. Nakos, G. E. and Hajidimitriou, Y. A. (2009). Conducting business in Greece: A brief for international managers. Global Business and Organizational Excellence, 28(5), 70–83. Retrieved November 2, 2012, from http://onlinelibrary.wiley.com/doi/10.1002/joe.20279/abstract In this research paper, the writers Nakos and Hajidimitriou have presented and analyzed the different aspects of doing or conducting business in Greece in order to guide the international managers before starting their business venture in the mentioned country. This research paper provides the readers with comprehensive information regarding different aspects and dimensions of business environment and culture of organizations operating in Greece. The researcher has been able to explore and analyze different elements and dimensions associated with the business environment of Greece. This in turn has enabled the researcher to understand the impact of the culture on the business practices prevalent in Greece and thus explore the answer to the research question related to the impact of the cultural dimensions and elements on the business environment of the Greece and implications for the US professionals in order to conduct business in Greece. Palazzo, B. (2002). U.S.-American and German Business Ethics: An Intercultural Comparison. Journal of Business Ethics, 41(3), 195-216. Retrieved November 2, 2012, from http://link.springer.com/article/10.1023%2FA%3A1021239017049?LI=true In this research article, the author, Plazzo has compared the business ethics prevalent in United States of America with that prevalent in Germany. This research article provides the readers with important insights regarding the business ethics of Americans and Germans. The researcher has used this article in order to get an inside of the business ethics and culture of the businesses and organizations operating in the United States of America. This in turn has provided the researcher with the opportunity to explore the research question regarding the differences of the cultural dimensions of United States of America with the cultural elements of the Greece and have been able to come up with implications and recommendations for the American organizations that are willing to conduct business in Greece. Peppas, S., and Peppas, G. (2000). Business ethics in the European Union: a study of Greek attitudes. Management Decision, 38(6), 369 – 376. Retrieved November 2, 2012, from http://www.emeraldinsight.com/journals.htm?articleid=865154 In this paper, Peppas and Peppas explored and analyzed the business ethics prevailing in the European Union countries with special focus on Greek attitudes. This journal article facilitated the researcher in the process of understanding and evaluating the attitudes and behavior of the Greek professionals with respect to the business ethics and culture. Hence, this paper was helpful for exploring the business culture and ethical values of the Greek professionals. The paper tends to answer the research question that how the cultural values and dimensions of Greece have resulted in shaping their business values and ethics and how they conduct business as a nation. This further provided the opportunity to provide a reference point for comparing the business culture and ethical values of Greek professionals with the business culture and ethical values of professionals from United States of America. Robinson, C. and Venieris, G. (1996). Economics, Culture, and Accounting Standards: A Case Study of Greece and Canada. Canadian Journal of Administrative Sciences, 13(2), 119–131. Retrieved November 2, 2012, from http://onlinelibrary.wiley.com/doi/10.1111/j.1936-4490.1996.tb00109.x/abstract In this paper, Robinson and Venieris have explored and analyzed the economics, culture, and accounting standards of Greece in comparison with that of Canada. The paper provided the opportunity to explore and comprehend the impact of economics and culture of the country on the business management and accounting practices in the country. This in turn facilitated the researcher in the process of exploring the impact of the cultural dimensions and values on the business practices in the country under discussion. For this reason, this research paper was used by the researcher in order to explore the answer to the research question related to the integration of the cultural elements and dimensions by the local businesses and organizations in Greece. Rothschild, K. W. (2000). Europe and the USA: Comparing What with What? Kyklos, 53(3), 249–264. Retrieved November 1, 2012, from http://onlinelibrary.wiley.com/doi/10.1111/1467-6435.00120/abstract In this research paper, Rothschild has presented some of the limitations associated with the comparison of United States of America with that of European countries. This research paper provides the researcher with the limitations and drawbacks of comparing the culture of United States of America with that of Greece. Apart from this, it provided important insights regarding the differences between the cultural dimensions of United States of America and Greece. The research paper has provided opportunity to the researcher to find answer to the research question related to the comparison of the culture and business of United States of America with the culture and business of Greece and at the same time to the research questions regarding the implications for the US organizations and businesses that wish to start or conduct business in the region of Greece. Read More