Economics - Social and Cultural Environment - Prof. Uddeepan Chatterjee, Study notes of Economics

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Social andSocial and

Cultural Cultural

Environment Environment

OverviewOverview



Important factors for Business:Important factors for Business:

-Language -Language

-Customs -Customs

-Traditions & beliefs -Traditions & beliefs

-Tastes and Preferences -Tastes and Preferences

-Buying & consumption patterns -Buying & consumption patterns



What is liked by the people of oneWhat is liked by the people of one

culture may not be liked by those of culture may not be liked by those of

some other culture. some other culture.

Levels of CultureLevels of Culture

 National CultureNational Culture  Business CultureBusiness Culture  Occupational CultureOccupational Culture  OrganizationalOrganizational Culture Culture  Multinational CultureMultinational Culture

Culture and InternationalCulture and International Business Business  Culture and CompetitiveCulture and Competitive Advantage Advantage  Spreading Cross culturalSpreading Cross cultural literacy literacy  Managing diversityManaging diversity  (^) Culture-Strategy CompatibilityCulture-Strategy Compatibility  Culture and Business ethicsCulture and Business ethics