Ecn-600 Assignment Explain Culture And Cross-Cultural Risks

Competitive Advantage Critical Thinking Author Department, UniversityECN 600Instructor Due DateCompetitive Advantage Critical Thinking Culture refers to the collection of shared beliefs, thinking, and behaviour of a society resulting from a shared history or experiences. Different cultures can be found in an organization, a community, or a country. Elements of culture include religion, language, food, salutation, clothes, and dances, among others. Businesses operate within these communities with different cultures. The stakeholders of the business such as the employees, the management, investors, and the community expect businesses to adhere to these shared beliefs, as such, to embed them into their organizational culture. Businesses also influence people's culture by bringing in new products, services, and ideas that impact the classical way of life. As such, culture can be shared and learned. Effect of Culture on International BusinessConflicting negotiation style is among the possible impacts of culture on a multinational business. Different cultures have different styles and behaviour during negotiations (Jack et al., 2012). For instance, most eastern cultures prefer the negotiation process to be slow and deep. On the contrary, their western counterparts prefer fast negotiation to begin