5. Culture is not a constant; it evolves over time. Economic progress and globalization seem to be...

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5. Culture is not a constant; it evolves over time. Economic progress and globalization seem to be two important engines of cultural change. One danger confronting a company that goes abroad for the first time is to be ill-informed. To develop cross-cultural literacy, international businesses need to employ host-country nationals, build a cadre of cosmopolitan executives, and guard against the dangers of ethnocentric behaviour. The value systems and norms of a country can affect the costs of doing business in that country. Although many ethical principles are universal, some are culturally bounded. What is not ethical in one country might be common in another. Despite this, the “when in Rome” approach to business ethics is dangerous. International businesses need to adhere to a consistent set of ethics derived from a high moral code.

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Global Business Today

ISBN: 9781259269400

5th Canadian Edition

Authors: Charles Hill, G. Tomas M. Hult, Thomas McKaig

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