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Global business cultural analysis: Italy - Research Paper Example

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Culture is a prismatic phenomenon that has been pondered over in detail throughout history, and a variety of study is available on culture and its consequences…
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Global business cultural analysis: Italy
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Download file to see previous pages Hence the challenge for a global businessman is to identify these differences and thereby taking the differences and similarities into account in designing and developing the structure of the venture, in order to optimize the returns gained, by reducing the consequences of cultural differences to the greatest extent possible. Steve Carter (Carter, 1997, 65) claims that culture is, alongside the economic factors, a subsequently significant environmental variable which requires massive attention at the global business level. This paper aims to analyze how the culture of the Italian region affects the business being conducted there, with regards to the global market, and it moves on to explain how and why cultural integration becomes an important element for US businesses to operate in the Italian region. CULTURAL DIMENSIONS AND ELEMENTS Cultural dimensions of any nation need to be analyzed before any investment is made in order to successfully operate in the region. Geert Hofstede is the seminal author with regards to defining the cultural dimensions present in a country. He claims that despite the human ‘feeling’ that deep inside all humans tend to be the same, we have to accept the fact that they are not, hence if one supposes that they can simply enter the markets of another nation and make decisions in accordance with their home-country’s cultural specifications, then the probability of reaching a bad decision is highly likely (Hofstede, 2009). He indentified five major elements in the society which define the dimensions of culture of any society (Hofstede. G; Hofstede. G J and Minkov, 2010): Power Distance Index (PDI) Individualism (IDV) Masculinity (MAS) Uncertainty Avoidance Index (UAI) Long-Term Orientation (LTO) Power Distance Index (PDI) This index measures the extent to which the less powerful members of the society, be it business or family, are willing to accept and also expect the power division in the institution to be unequal. PDI is a representation of the inequality, on a quantitative scale, however it is bottom-up and is not applicable vice versa. It thereby tends to state that the inequality in a society is not only endorsed by the leaders, but the followers also play a contributive part. Power and Inequality are substantially important facts pertaining to a society, and anybody who tends to operate at a global level must understand that generally all societies are unequal, however the level of inequality varies from region to region, thereby affecting the organizational structure and planning respectively. Individualism (IDV) This factor can also be measures with regards to its polar opposite ‘collectivism’ in a society, which refers to the extent or degree to which the individuals in a society are integrated or united in the form of groups, or in other words ‘collective entities’. On one extreme, the highly individualistic society entails that individuals are more concerned with their own selves, and to some extent the immediate family. In such societies the bonds and ties between people tend ...Download file to see next pagesRead More
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