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Balance Sheet

In: Business and Management

Submitted By Mdrange6
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As we examine multicultural influences in the business world, we understand that there are many differences in the way business is conducted. In this new global economy, cultural awareness in more necessary now than ever before. However exciting it is to understand the mind, ideas, and culture of other nationalities, it is more important to understand things that may offend or are considered taboos. When we build connections with our friends from around the world, and more than build relationships, but work with and share ideas, and work space or supervising. How do we even begin to incorporate the thousands of different ideas and cultural practices into a functional system of healthy business relationships? Luckily for those of us who are aware of such a necessity psychologist Dr. Geert Hofstede has spent 10 years dedicated to this idea. He has been internationally recognized for his commitment to understanding and collecting data from organizations in over 40 countries. The five dimensions discussed in Hofstede’s work is Power, individualism, masculinity, Uncertainty, long term orientation.
By power, Hofstede meant to describe the level of inequality that is prevalent among certain cultures and what inequalities are actually tolerated.
In Malaysia it is common practice for a reports to be sent only to top execs and the powerful members of a company would only congregate and share information between themselves. This isn’t all too foreign here in America. As we understand clearly that the power in this country is heavily concentrated.
This leads up to individualism, interpreted by Hofstede to be the values that a cultural adheres to with little or no deviation. Low individualism scores (IDV) would mean that a culture would have more loyalty and cohesion. The higher the score the distant the connection.
Places like Panama has a very low IDV scores, and they

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