Culture refers to the system of values and norms which a society shares; it includes beliefs, laws, knowledge, art, and customs (Hill, 2010). Values are a set of beliefs about, or attitudes towards, concepts concerning a society, while norms are unwritten, but accepted, rules and laws about society members’ behaviors. Values and norms are influenced by a number of factors within society such as “social structure, religion, language, education, economic philosophy, and political philosophy” (Hill, 2010). The differences in these factors across the globe provide the diverse societies, which must be viewed individually so as to comprehend the implications they have for international business. An example of potential implications would be a society that values collective achievement. That value alone has the potential to affect the political system of that country to adopt certain socialist principles, or to cause the employees of a firm to work well only in a team environment.
The cost of doing business... [continues]
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