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In this chapter you will learn: What the features of oligopoly and monopolistic competition are? How to calculate the short‐run and long‐run profit‐maximizing price and quantity for a monopolistically competitive firm? What the welfare costs of monopolistic competition are?. | Sociocultural Forces McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter six Learning Objectives Explain the significance of culture for international business Identify the sociocultural components of culture Discuss the significance of religion to businesspeople Explain the cultural aspects of technology Discuss the pervasiveness of the Information Technology Era 6- Learning Objectives Explain the importance of the ability to speak the local language Discuss the importance of unspoken language in international business Discuss the two classes of relationships within a society Discuss Hofstede’s four cultural value dimensions 6- Rules of Thumb for Cross Culture Business Be prepared Slow down Establish trust Understand the importance of language Respect the culture Understand the components of culture 6- What is Culture The sum total of beliefs, rules, techniques, institutions, and artifacts that characterize human populations Learned Interrelated Shared Defines the boundaries 6- Ethnocentricity Ethnocentricity Belief in the superiority of one’s own ethnic group 6- Living with Other Cultures Realize that there are many different cultures Learn the characteristics of those cultures Spend a lifetime in a country Do training program 6- Culture Affects All Business Functions Marketing Variation in attitudes and values requires firms to use different marketing mixes P&G Japanese Camay commercials Disneyland Paris Human Resource Management Evaluation of managers Production and Finance Attitudes toward authority Attitudes toward change 6- Sociocultural Components Culture is: Aesthetics Attitudes and beliefs Religion Material Culture Language Societal organization Legal characteristics Political structures 6- Aesthetics Culture’s sense of beauty and good taste Art conveys meaning Colors, symbols, numbers--Nike air Architectural style differences feng shui Music and . | Sociocultural Forces McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter six Learning Objectives Explain the significance of culture for international business Identify the sociocultural components of culture Discuss the significance of religion to businesspeople Explain the cultural aspects of technology Discuss the pervasiveness of the Information Technology Era 6- Learning Objectives Explain the importance of the ability to speak the local language Discuss the importance of unspoken language in international business Discuss the two classes of relationships within a society Discuss Hofstede’s four cultural value dimensions 6- Rules of Thumb for Cross Culture Business Be prepared Slow down Establish trust Understand the importance of language Respect the culture Understand the components of culture 6- What is Culture The sum total of beliefs, rules, techniques, institutions, and artifacts that .
