Executive Summary
Following the development of the emerging global market, modern business organisations are clearly expected to have a global outlook in its business orientation. Managers working in multinational corporations are facing challenges in managing people from a much more diverse cultural background.
With the definition of culture visited and its relationship with the emergence of globalisation, this essay aims to analyse culture differences by using Hofstede five culture dimensions namely individualism-collectivism, uncertainty avoidance, power distance, masculinity-femineity and long term orientation (Trompenaars & Hampden 2002). In addition, management theories and practices are used as examples to show that what works for one culture does not necessarily work for the other.
To operate effectively in the target country which has a different culture and rules of doing business, multinational corporations need to be willing to learn management and communication skills that enable them to recognise the cultural difference as well as its impact on business practice. Furthermore, the importance of culture in business development and operations are highlighted by using multinational corporation management examples. It is evident that multinational corporations which devote time and effort in developing business practice and value that respect both home and target country cultures result improved business operation, business relationships, recruiting and retaining high performance employee and improved customer services.
Table of Content
Executive summary ---------------------------------------------------------------p.1
Introduction--------------------------------------------------------------------------p.3
Culture and Globalisation --------------------------------------------------------p.3
Analysing culture with Hofstede’s five dimensions---------------------------p.4-5
Importance of understanding culture...