Hofstede Model, Types of Economic Systems and Its Effect on Society : Project
Added on -2020-07-22
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International Business
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Reasons of globalisation.............................................................................................................1Benefits of free trade...................................................................................................................1Features of cultures high on power distance...............................................................................1Management implications with cultures.....................................................................................1Globe cultural framework...........................................................................................................2TASK 2...........................................................................................................................................2Types of economic system..........................................................................................................2Effects of economic system on organisation...............................................................................2Social inequalities.......................................................................................................................3Difference between teleological and deontology theory.............................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONInternational business means when company carries out its activities outside theboundary of home/ parent country (Dunning, 2012). This project will explain Hofstede model,types of economic systems and its effect on society and social inequalities, and what implicationdoes social inequalities have for multinationals.TASK 1Reasons of globalisationImproved transport, making global travel easier.For improving technology which makes it easier to communicate and share informationaround the world.Reduced tariff barriersFor raising mobility of capital and labour.Benefits of free tradeFree trade means when organisations are doing import and export without any tariff barrier.It helps to all countries because-It usually boosts the quality of life for a nation because it provides more options oropportunities to consumers.It develops innovation because the flow of trade circulates new ideas.It minimizes the corruption in country.Features of cultures high on power distanceIn this people are dependent on person who have strong power.Society doesn't question the decision of leader and there is no close relationship betweenpeople and leaders who only want to earn more money.In society, there are inequalities among people and unequal distribution of power(Minkov and Hofstede, 2011).Management implications with culturesThey are similar in some respect and different in others. Dimensions can be grouped infollowing way-1
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