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Religious factors
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Cultural Universals
Irrespective of the religion, race, region, caste, etc., all of us have more or
less the same needs. These common needs are referred to as Cultural
Universals and identified as cooking, dancing, singing, education,
athletic, sports, bodily adornment, joking, kin groups, status differentiation
and dream interpretation.
The cultural universals enable businessmen to market the products in many
foreign countries with modifications. For example, TVs, cars, video games.
Culture is not a barrier to computer software.
As such, computer software industry of the USA, Europe and Australia has
been attracting most of the Indian computer software engineers. Other
examples include diamonds, gold ornaments, flowers which have worldwide
demand.
Many managers felt that Japanese would not eat black food, when
Yamazaki-Nabisco thought of introducing Oreo cookies in Japan. But Oreo
cookies became number one cookies in Japan.
Cultural Universals do not mean that two cultures are not very much close
to each other.
Demographic environment
Age composition
Income levels
2. Technological environment
3. Economic environment
Nature and level of development of economy
Economic resources
Size of economy
(Out of 200 nations, 75% are developing nations having 80% of population. Only 54
nations have high income economies.)
Political parties
Radical differences
Fundamentalists
Govt. system
Liberal or Conservative policies
Trade barriers
Tariffs
Non tariff barriers
International Business
Natural Resources
Absolute advantages
Capitalism
Socialism
Communism
Economic Markets
Absence of
competition with
state owned markets
and industries.
Individual incentives
Profits recognised.
Wages fairly in
relation to efforts.
Capital Sources
Capital invested by
owners who may
also borrow on
credit. Capital may
be re-invested from
profits.
Obtained from
owners and from
state issued bonds
for state-owned
industries.
Capitalism
Socialism
Communism
Labour
Workers allowed to
select occupation.
State planning
encourages
employment.
The state
determines ones
employer and
employment.
Management
Managers are
selected on the basis
of ability. Managers
have freedom to
make decisions.
Business Ownership
Individuals have a
right to own a
business and to
contract with others.
Capitalism
Losses assumed by
owners. May
transfer business
risks to other
businesses through
insurance.
Socialism
Communism
Economic
production owned
by the state. Risks
assumed by the
state. Losses reduce
standard of living.
Class Exercise
Thank you