2<\/p>\n
1<\/p>\n
Thom\u00e1s <\/p>\n
Culture – Societies<\/p>\n
Culture involves a set of behaviors, beliefs, values\/norms, and it can involve religion, language, and education, being present in one or more countries (Hill, 2022). Having specific cultures in societies can mean different things for managers and investors, especially if they are considering doing business in particular places. This paper will discuss how society affects the private sector in China, the relations between cultural values in society affect economic growth, and how difference in incomes might be related to familial cultures that might persist in different societies. <\/p>\n
Purpose of Research<\/p>\n
As businesses actively choose to do business internationally, it becomes critical that they become more aware of the culture and the society of the places you are looking to do business at. Therefore, knowing more about religion, social structure, language, education, political\/economic philosophy of the society (Hill, 2022) will help managers pick better strategies when choosing where to do business. By understanding how society can influence private sectors, economic growth in different countries, and differences in family incomes, managers can make more educated decisions when making decisions regarding international investments. <\/p>\n
Review of the Literature<\/p>\n
Although culture and institutions are different concepts, in several societies, it can be easy to confuse those terms. The \u201csocietal effect\u201d is the influence of culture on institutions (Redding, 2008), it can be significantly valid to explore and discuss the role of society and culture and how those factors affect the private sector of a country. Redding (2008) studied the private sector in China and how society affects such institution. Its findings show that the structure of society is in line with the business systems theory. Such result can be interesting for other authors to study to check how much other societies might affect the private sector in each country.<\/p>\n
Different nations have distinct levels of economic freedom. In other words, different governments and their political structures will allow private parties to do more (or less) business, pay more (or less) taxes, and make decisions in different scales according to the political scenario of those countries. Although economic freedom is an essential theme for businesses, society and culture can be critical when shaping a country\u2019s business environment (Johnson, 1998). Society and culture can affect how individuals in a nation do business and that can be extremely important for a nation\u2019s economy. Johnson (1998) found a significant relationship between measure of culture, economic freedom, and economic growth, and that those relationships impact significantly businesses from different industries. <\/p>\n
How much families make in societies and countries can be an important factor for businesses and societies. Doing business in a society that has higher income levels is certainly advantageous, as naturally those individuals will have a higher purchasing power and will consume more as a consequence. Therefore, understanding how differences in incomes can be explained by cultural and societal disparities can be extremely important for companies when thinking about scenarios and countries that would be attractive for investments. In a recent study, Lim et al. (2021) found that the strength of national family ties explains significant differences in income across countries. <\/p>\n
Practical Application<\/p>\n
By knowing how specific societies affect private sectors, it can be intelligent for managers to study and research similar countries to those that they are considering doing business with (Redding, 2008). If those cultures and societies affect the private sector of that nation on a negative manner, according to the studies cited in this paper, it might be a negative indicator for those managers to invest in that specific nation. At the same time, knowing more about the measures of culture and economic freedom of a country can be an indicator for economic growth (Johnson, 1998). Therefore, knowing how much a specific culture and society values economic freedom can be a positive indicator of the levels of economic growth and therefore, that can be a valuable information when making decisions on doing business in that nation. Finally, cultural and societal ties make a difference in family incomes in different counties (Liam et al., 2021), hence, knowing more about how much families can influence such levels of income in specific countries can be advantageous to organizations and managers. <\/p>\n
Conclusion<\/p>\n
Culture and society have a significant impact on how a nation does business and automatically also interferes in the attractiveness of that nation for international companies to pursue business there. Understanding how culture and society affects different countries can be critical for managers from different organizations. In order to better understand that, we found that the structure of society directly affects the private sector in China, as well a significant relationship between the measure of culture and society with economic growth in different counties, and that the strength of family ties explain differences in family incomes in multiple countries. <\/p>\n
References<\/p>\n
Hill, C. W. L. (2022).\u00a0 Global Business Today (12th ed.).\u00a0 New York, NY:\u00a0McGraw Hill.\u00a0<\/p>\n
Johnson, J. P., & Lenartowicz, T. (1998). Culture, freedom and economic growth: Do cultural values explain economic growth? Journal of World Business, 33(4), 332\u2013356. https:\/\/doi.org\/10.1016\/s1090-9516(99)80079-0 <\/p>\n
Lim, S., Kahai, S. K., & Khun, C. (2021). Culture and income across countries: Evidence from Family Ties. Journal of Economic Studies, 49(2), 213\u2013226. https:\/\/doi.org\/10.1108\/jes-06-2020-0276 <\/p>\n
Redding, G. (2008). Separating culture from institutions: The use of semantic spaces as a conceptual domain and the case of China. Management and Organization Review, 4(2), 257\u2013289. https:\/\/doi.org\/10.1111\/j.1740-8784.2008.00103.x<\/p>\n","protected":false},"excerpt":{"rendered":"
2 1 Thom\u00e1s Culture – Societies Culture involves a set of behaviors, beliefs, values\/norms, and it can involve religion, language, and education, being present in one or more countries (Hill, 2022). Having specific cultures in societies can mean different things for managers and investors, especially if they are considering doing business in particular places. This […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10],"class_list":["post-105849","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/105849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=105849"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/105849\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=105849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=105849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=105849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}