Cross Cultural Management - Report

Running head: MANAGEMENT AND BUSINESS CONTEXT
Management and Business Context
Name of the Student
Name of the University
Author Notes

MANAGEMENT AND BUSINESS CONTEXT
Executive Summary
The aim of the given study is to highlight upon the importance of the cross Cultural elements that
is required in the matter of dealing with business expansion in the age of globalization. The
result of the report will help the currency consultancy firm to deal with clients from all across the
globe. The Hofstede’s theory of cultural dimension will be used to describe the importance of the
same and describe the current social opportunity that exists with the Australian Workforce.
The report will also suggest the ways that can be used to implement the Hofstede’s theory of
cultural dimension in the context of the given situation. This will ensure efficient practical use of
the theory that is done to deal with the cultural challenges. Proper recommendations are also
included in the report that will aim to increase the level of cultural awareness among the people.

MANAGEMENT AND BUSINESS CONTEXT
Table of Contents
Introduction......................................................................................................................................4
Theories of Cross Cultural Management.........................................................................................4
Ways to implement Cross Cultural Management in Business and its Importance..........................6
Conclusion.......................................................................................................................................8
References......................................................................................................................................10

MANAGEMENT AND BUSINESS CONTEXT
1) Introduction
The cross cultural management study focuses upon influence of the society and culture
on the management practice in business. It also aims to highlight the social challenges that are
faced is faced due to the cultural differences. There are also cultural models like the Hofstede’s
theory of cultural dimension that are needed to compare the values of diverse social culture. It is
important to note that the ethical principles of business are highly dependent upon the cultural
values that are implemented within the organization. It can help to promote the brand value and
the ethical principles of the business. The cultural aspect of a region has significant impact on the
organizational structure and performance level of the employees.
The current study will aim toanalyse the importance of cross-cultural management in the
context of current day business environment. The scope of the study is to describe, how the study
of cross cultural management can help to deal with the business challenge of a currency
consultancy firm. It will also focus on implementing the theories of cross cultural management to
improve the business planning of the given currency consultancy firm.
2) Theories of Cross Cultural Management
The current age of business globalization, the cross cultural management is widely
gaining high level of importance.In the given context, this portion will discuss the theory and
models that are used to deal with the challenges that are related to cultural diversity. According
to Thomas and Peterson (2017), the study of cross cultural management mainly focuses on the
behaviour of the people how different culture and community, who are associated with an
organization. The large-scale multinational corporations like the currency consultancy firm have
to operate under diverse Global community to expand the range of business. French(2015), has