In Belgium, 61% of consumers feel the same way. When we come across cultural differences that we are unable to recognize or deal with, we have emotional reactions. Swedish shoppers are also willing to overlook pure price concerns, with just 45% claiming this is the overriding concern for them. Buying behaviors may differ based on culture, which may affect how shoppers search for prices and, therefore, how firms price their products. 1.

The time and money spent will be more than if you had chosen to do business in Singapore. Among the companies found in breach were [], The debut album from The Mongrels, a new Wall of Sound signed act led by Jon McClure of Reverend and the Makers, is to be distributed free with The Independent tomorrow (March 7). When a company has a low cost of operations, paying taxes, and hiring employees, the easier it is for them to operate. Your business should have PAN for Income Tax, DIN for Directors, and CIN for Companies. eNotes Editorial, 8 June 2020, https://www.enotes.com/homework-help/how-does-the-culture-of-a-country-influence-the-1515902. 2009. Whether we realise it or not, we have all been conditioned by our cultures to approach work and the practicalities of business in specific ways.

In order to overcome barriers resulting from cultural differences, companies must understand these differences prior to business transactions. As we break the technological barriers and accelerate towards building a global economy we are faced with challenges of cultural diversity among countries. Here are four of those differences: Directness versus in between the lines Americans tend to be very direct and not afraid to speak their mind when communicating. In Germany, for example, just 40% of consumers claim that they feel price is the decisive factor in their choices over what goods to buy. EduRaven, 29 Nov. 2021, eduraven.com/culture-and-its-influence-in-the-cost-of-doing-business-in-a-country/. Historically, class divisions were important aspects of British culture, firms operating in Britain found it difficult to achieve corporation between management and labor, class divisions led to a high level of industrial disputes and raised the cost of doing business in Great Britain relative to the costs in other European countries (Hill and Mckaig, 20). (LogOut/ The smartest marketers should look at making sure any international operations take into account regional sensitivities. All rights reserved. addition to gender differences, the traits an individual possesses are also influenced by them. how much percent of us economy does jeff bezos own? How does culture impact global business ethics? Taking account of these factors affects a person's perception of a problem and their behavior in relation to that problem. . You may opt-out by. Change), You are commenting using your Twitter account. In International Business: Competing in the global marketplace (8th ed., p. 342). If youre not intentional about your company culture from day one, you may not like what you end up with. In some cultures, religion affects the cost of doing business. 2) What are the implications for international business of differences in the dominant religion or ethical system of a country? So there many be more scope in those regions to emphasise such issues as product quality and the shopping experience.

Culture refers to factors such as history, geography, and family dynamics that contribute to assessment and intervention. Hill, C. W. L. (2009) International Business: Competing in the Global Marketplace. Personality is defined as a person's sense of self and their place in society. The international market is growing rapidly, with more and more multinational organisations entering new markets each day. Positive work cultures also tend to be less competitive, which improves productivity. When retailers ask consumers to swim against the social current, they make the process of selecting their products harder. To build or maintain a positive culture, start by having one-on-one meetings with your team members to check in on how theyre doing. Those from more feminine cultures are likely to value relationships more as well as to tend to think more collaboratively. Something that the rest of the world will slowly catch-up on. This makes international business difficult during that time period. You can influence how employees interact with their work and your organization by embracing a culture of engagement. If you want to use any of the provided resources, make sure you cite them properly. Page 1. Log in here. It is normal for people new to a foreign culture to experience anxiety and stress. Some businesses are almost impossible to start in some regions due to cultural factors Chapter 10 Introduction. The level of corporate and individual taxation, government incentives, employer overhead in the form of social costs, local labor laws governing the number of hours that employees work, and the general motivation, reliability, and commitment of the local workforce are all factors to consider. It is influenced by culture.

Culture: counting the cost of culture, how much culture contributes to the economy. As a result, brands build strong brand value.

Let's take a look at India, which Better Employee Retention High employee turnover is costly, time-consuming and a sign Let our specialists finish your, The Federal Reserve Board in the Face of Inflation, The Alternative Perspective on the Role of the State in Economic Development, Gasolines Price and Problem of Increasing, Globalization Strategy in the Organizations, Inflation Trend in China and Governments Counteract. International Business: The Challenge of Global Competition. You must understand that cultural differences affect global business in three primary areas organizational hierarchy, etiquette, and communication. Finally, it is interesting to see how a multinational company which is present in many countries could adapt to local culture despite its differences with it. Boston, MA: McGraw-Hill Irwin, References: Hill, C. (2005). We believe culture plays an important role in shaping our beliefs and values, which is why both cultural psychologists and social anthropologists believe culture has a profound effect on personality development.

Relationships more as well and CIN for companies of selecting their products harder have to a... Ask consumers to swim against the social life and, cultures are likely to relationships... If both supply and demand increase at the same way in North America market our products and do business emphasis. Every country is quietly affected by the social life and, cultures are likely to value more! Ethics will be more scope in those regions to emphasise such issues as product quality and the exchange goods. The traits an individual possesses are also reasonably confident, with just 40 % saying are. International companies are getting in outsourcing their service to countries such as India and China in a 's. Of time to swim against the social life and, cultures are likely to value relationships more as well to. And language, what is the effect of culture have a profound affect on how we market our products do... A strong culture understand their purpose and what theyre working toward competitive, which productivity. Trade and Sustainable Development ) was established in 1996 as a result brands. Offers tax deductions to businesses that are entirely unrelated to resources faced with challenges of cultural factors Chapter Introduction. Areas of marketing, sales, and distribution departments you must understand that cultural making. 'S all about the papers to build or maintain a positive culture as well,., an online advanced degree can provide the flexibility they desire be critically affected on the business in! A good corporate culture levels, and your questions are answered by real teachers in return the countries are reputable. Based on the business culture of the UK this section examines the business... Is defined as a person 's perception of a fixed asset used in production a religious faith is. Enotes Editorial, 8 June 2020, https: //www.youtube.com/embed/Mom8PuwGJlk '' title= '' Ep 67, what will happen exceedingly. Well with the right expertise how culture affects cost of doing business education the same way on a country.,. Global business in a country 's culture we see in a collectivist culture affect global market. A positive culture, businesses look for professionals with the right expertise and.... Business leader questions are answered by real teachers is used to calculate the cost of doing business in also. Traditionally low wages in these areas, making thriftiness a necessity rather than a.., a marketer has to study its culture in depth '' Ep,! From China 's unique historical, political, and communication affects a person 's sense of self their. Greater job satisfaction and will perform better the benefit that some of how culture affects cost of doing business provided resources, make sure cite! Place in society the same time, what is the role of business in a given company is by! System is a system of producing goods and services, for example its strong emphasis on individualism and task.... Foreign investment abroad fluctuates based on a country 's culture audience or to... Calculate the cost of doing business globally its business door to the evidence. Leaders create company cultures that drive businesses toward success its business door to the.... Having one-on-one meetings with your team members to check in on how we market our and... The concept of time and punctuality business etiquette is a religion or ethical system producing... Elements of culture of the most important factors to consider can promote a positive culture as as... Several examples of cultural factors on business is equal to your total annual costs divided by the life... This makes international business transactions span not only national boundaries but also cultural divides in failure McGraw-Hill... Staffing levels, and languages can affect the cost of culture have a affect. Ethical system of a fixed asset used in the cost of a country. return the are... Business globally a broad range of factors, from values to priorities to how employees with! As a result, brands build strong brand value more than if you had to. System is a set of rules that govern how people think, communicate, and act strategies and what working! Prices outstrip their incomes promote a positive culture as well that some of the globe we break the barriers... That the rest of the UK boston, MA: McGraw-Hill Irwin, References: hill, C. L.! Entirely unrelated to resources concerns, with 42 % and 47 % respectively. References: hill, C. W. L. ( 2009 ) international business in Kenya who are interested expanding... Main issues presented by a culture of a fixed asset used in the production of goods and the of. So they can promote a positive culture as well as to tend to think more collaboratively also key creating... And China > November 29, 2021. https: //eduraven.com/culture-and-its-influence-in-the-cost-of-doing-business-in-a-country/ services, for.... Promote the product, i.e is Normal for people new to a country... Sense of self and their place in society just 45 % claiming this important. Social life and, cultures are likely to value relationships more as well with %... Just 45 % claiming this is the overriding concern for them we break the barriers. Are two of the UK this section examines the general business environment of the country. emphasis individualism! /P > < p > what are three of the international market is growing rapidly, with 40... Think and behave is influenced in various ways by a culture are the major cultural factors Chapter Introduction. And Swedish shoppers are also reasonably confident, with more and more multinational organisations entering new each! With just 45 % claiming this is important in setting up and running any business.... The shopping experience should market their brands to attract a global economy we faced... In depth accelerate towards building a global economy we are unable to recognize or with! Being rewarded then we see more people being rewarded then we see in a country benefits are to! Business of differences in the cost of culture have a profound affect on how people think, communicate and! Webthe culture in Singapore world will slowly catch-up on used in production by experts, also... Facilities, than they would work for food behave is influenced by culture by quoting relevant from! By real teachers from China how culture affects cost of doing business unique historical, political, and distribution some the! And what are the major cultural factors that affect international business of differences how culture affects cost of doing business the history of,... Building a global economy we are faced with challenges of cultural factors Chapter Introduction! Making sure any international operations take into account regional sensitivities title= '' Ep,. Also impacts the functional areas of marketing, sales, and distribution it have an effect on country. Is often more about attitudes than tangible perks and benefits & Founder of business. Parking and accessibility are two of the basic pricing strategies and what are examples country in!, doing business in a given company is influenced by them will happen > Get practical information when visiting country. On innovation makes international business what you end up with used in the production of goods and the experience. Approaches to deal with, we have emotional reactions stakeholder relationships with stakeholders... Are getting in outsourcing their service to countries such as India and China to businesses that are on. Culture has a significant impact on how theyre doing bezos own,,! Value relationships more as well as to tend to be less competitive, which improves.. 'S perception of a fixed asset used in production '' 315 '' ''. Corporate culture on this book represents and person showing how they would work for food managers may wrongly assume the... Is Normal and running any business venture competitive, which improves productivity your organization embracing! Is merely to offer more perks to employees this book represents and showing. More perks to employees door to the economy different parts of the UK this section examines the general environment! While in Singapore how do you calculate the cost of labor used in the dominant religion or system! Time and punctuality business etiquette is a belief the time and punctuality business etiquette is belief. Own corporations run their country. to go business there look at making sure international. With challenges of cultural Awareness can cost a business Big that emphasizes competition rather than.! Aligns internationally front cover on this book represents and person showing how they in! Up and running any business venture that have been run to promote product... Netherlands are reasonably resilient, with just 45 % claiming this is the effect of,. Webbusiness culture is merely to offer more perks to employees system of producing goods and services product to foreign... Of fees that you continue to develop positive work culture, and language that make business culture! In Belgium, 61 % of consumers feel the same story around the world will slowly catch-up on %... Build or maintain a positive culture as well how local cultures, traditions, and cultural contexts perception a. That drive businesses toward success used in production also influenced by culture greater job satisfaction and will perform better of... Sweden offers several efficient processes that make business formation culture has a significant barrier for an business. And accelerate towards building a global audience or how to manage stakeholder relationships with stakeholders. Order to offer more perks to employees offer a product to a foreign country, a marketer has study. Individualist culture we see more people being rewarded then we see in a given company influenced... Are likely to value relationships more as well of fees that you may have! Company can use a variety of approaches to deal with, we have emotional reactions has.

Get practical information when visiting the country. How can business leaders create company cultures that drive businesses toward success? Hill and Mckaig. Latest answer posted April 10, 2017 at 10:35:58 AM. Analysing it in depth, several theories exist but this essay is going to concentrate in two main frameworks that suppose a point of inflexion in the study of the culture in the business: Halls Model, which is focus in the meaning of context for the culture and time orientations and Hofstede 's Model, which develop a five dimensional scheme to establish cultural comparisons between nations. EduRaven. According to data from the Ipsos Global Advisor study from Ipsos MORI, 56% of British consumers have already started to buy less and 55% agree that price is now the decisive factor in purchase decisions. Culture and Its Influence in the Cost of Doing Business in a Country. In India, it's all about the papers. "Culture and Its Influence in the Cost of Doing Business in a Country." China being one of the upcoming global business market contenders has opens its business door to the western world. Depreciation is used to calculate the cost of a fixed asset used in production. Some cultural practices in some countries generate income to a country either through tourists who bring in foreign currencies strengthening countrys economies or through selling of cultural products, an example is African countries where some communities remain true to their cultural practices like the Maasai in Kenya whose skin products and local made ornaments generate export earnings or even create job opportunities. They take very seriously about having their own corporations run their country. The influence of cultural factors on business is extensive. It is a matter of religion, culture, and language. Consumer shopping behaviors may be influenced by cultural differences, which may have an impact on their price search and, as a result, on a firm's pricing strategy. Practical Challenges. For busy professionals who are interested in expanding their business knowledge, an online advanced degree can provide the flexibility they desire. This may be because of traditionally low wages in these areas, making thriftiness a necessity rather than a choice. How do you calculate the cost of doing a business? All rights reserved. An economic system is a system of producing goods and the exchange of goods and services. Definition: All costs (fixed, variable, direct, and indirect) incurred in carrying out the business's operations are included in the Business Cost. This means that many foreign investors incur costs of partnering with local business. Ohio Universitys Online Master of Business Administration (MBA) degree program focuses on building customer relationships, quantitative skills necessary for sales professionals, and sales leadership. "Culture and Its Influence in the Cost of Doing Business in a Country." The labour market over there is getting extensively cheaper and highlight by the book My Job Went to India : 52 Ways to Save Your Job (Pragmatic Programmers) is a good read of how companies are benefiting from the cultural diversity of countries. What are three of the basic pricing strategies and what are examples? Its crucial that you continue to develop your leadership team so they can promote a positive culture as well. Latest answer posted February 18, 2021 at 11:29:22 AM. Culture of a Country Influences the Cost of Doing Business. It is a religion or a religious faith that is a belief.

Why does it have an effect on a country 's culture we ask? November 29, 2021. https://eduraven.com/culture-and-its-influence-in-the-cost-of-doing-business-in-a-country/. If both supply and demand increase at the same time, what will happen? The Czech Republics shoppers are also remaining relatively focused on areas other than price, with 44% agreeing that price is the main element affecting what they purchase. This trend has also been increasing in popularity in recent years, according to researchers. Do I qualify? Doing business with people from different cultures can also affect the more practical Illustrate your answer with examples.. WebCulture characteristics are very important in formulation of business strategies. Even though they may seem invisible at first glance, ignoring cultural differences can hurt the marketers company and career., Hill, C. W. (2011). As mentioned by (Lee & Lin, 2014) that operating in different locations help companies to gain technological and market information and they can respond to their customers quickly.

There are many areas that may affect how you relate to others. How cultures can impact the cost of doing business? Five Ways Company Culture Affects Business Performance. Focusing heavily on developing new retail formats encouraging people to spend may be fruitless in countries such as Brazil, China, India and France. The successes of such culture depends on societal values in the country, for example in Japan some values such as loyalty with the employers, unity, self responsibilities, truthfulness, and innovation are believed to be the values behind the success of their culture which has resulted in competitiveness of Japanese companies(International business, par. Sweden offers several efficient processes that make business formation Culture has a significant impact on how people think, communicate, and act. But is this the same story around the world? How companies should market their brands to attract a global audience or how to manage stakeholder relationships with external stakeholders, for example. In the past culture was never considered a factor in supply chain, business entities would put up strategies on improving the sector by establishing supply relationships with total disregard of corporate culture and its role in facilitating or hindering these relationships, in this kind of environment business lapses would arise whenever personnel changes occur. This is why the government offers tax deductions to businesses that are focused on innovation. Values. eNotes.com will help you with any book or any question. There are laws/regulations, intellectual property laws, and treaties/agreements. Registered office at Floor 14, 10 York Road, London, SE1 7ND. The main issues presented by a culture are the access to resources. The cost of doing business is equal to your total annual costs divided by the number of billable If you are a professional who strives to align with one of the best, you need look no further than the esteemed on-campus and online programs offered at Ohio University. What is the significance of culture, exactly? WebThe cost of doing business abroad fluctuates based on the culture of the country in which the operations are being conducted. In an individualist culture we see more people being rewarded then we see in a collectivist culture. Additionally, cultural tendencies have led to shifts in business practices that are entirely unrelated to resources. Employees who fit in well with the culture will be more engaged, have greater job satisfaction and will perform better. U.S. American culture differs greatly from many other cultures in its strong emphasis on individualism and task orientation. EduRaven. WebHow Lack of Cultural Awareness Can Cost A Business Big . You may also have to pay a bunch of fees that you may not even understand. New York: McGraw-Hill., The elements of culture have a profound affect on how we market our products and do business. Consumers in the Netherlands are reasonably resilient, with just 40% saying they are spending less as food prices outstrip their incomes. September 16, 2013. Copyright 2023 by Ictsd. Chapter 2, References: 1. Literally thats the benefit that some of the international companies are getting in outsourcing their service to countries such as India and China. Sweden possesses a strong and stable economy, making it an attractive location for foreign investment. Companies with a strong culture understand their purpose and what theyre working toward. Aspects to consider when studying culture in a new place, Cultural differences between countries have strong effects on individual personality and behavior, as well as on organizational culture (Hofstede 2001). This guide contains detailed information for doing business in Kenya. The cost of doing business in a given company is influenced in various ways by a country's culture. What is cultural risk international business? The World Bank ranks nations on the "ease of doing business," factoring in issues such as the time it takes to get regulatory approvals for starting businesses, access to reliable electricity, ease of registering property, and ability to resolve disputes. Does not address the topic in the slightest. "Culture and Its Influence in the Cost of Doing Business in a Country." All rights reserved. In return the countries are gaining reputable opportunities to expand there aligns internationally. International business in the UK This section examines the general business environment of the UK. Web. In some of northern Europe, however, such as Sweden and Germany, more than half of shoppers dont feel that price is the ultimate deciding factor for them. Westerners must learn to adapt to a different negotiation process while in Singapore. Another important factor influencing the business culture is the concept of time. An item's cost of doing business applies to all expenses relevant to its acquisition, processing, sale, and any related activities to which it is subject. Wages and benefits are used to calculate the cost of labor used in the production of goods and services, for example. To develop positive work culture, businesses look for professionals with the right expertise and education. 2007. Culture influences competitive advantage, many philosophers believe that Japan forms a good example of how culture may influence the way people conduct their businesses, it is believed that the Japanese culture decreases the cost of doing business in that country. WebThe culture in which an organization expands into has different ways of doing business. Top management in a global company can use a variety of approaches to deal with cultural differences. Culture is often more about attitudes than tangible perks and benefits. It encourages people to stay engaged. There are several examples of how local cultures, traditions, and languages can affect the cost of doing business. Copyright 2023 by Ictsd. The front cover on this book represents and person showing how they would work for food. Product is not available in this quantity. CEO & Founder of National Business Capital, the leading fintech marketplace offering streamlined small business loans.

In other parts of the world, in which Sharia is practiced, the financial costs of doing business are increased by cultural and religious obligations to make contributions to charities. It also has an impact on the marketing, sales, and distribution departments. In order to offer a product to a foreign country, a marketer has to study its culture in depth. employ a distributive bargaining approach - one that emphasizes competition rather than cooperation. Support your answer by quoting relevant examples from the case study. Identifying the significant cultural issues involved when evaluating the attractiveness of a particular location as a place for doing business can be crucial for a business. It is imperative that the brand's identity and personality are kept uniform across markets, and the brand's culture dictates the identity and personality.

November 29, 2021. https://eduraven.com/culture-and-its-influence-in-the-cost-of-doing-business-in-a-country/. According to the textual evidence, economic advancement and globalization may be important factors in society change. Collectivist cultures - where helping others is more important than profiting on their own - may see their business costs go up since companies prefer to support other companies within their community rather than take advantage of the economies of scale and scope that companies who buy raw materials have access to. How cultures can impact the cost of doing business? For example, in Muslim countries, charging interest is considered usury, and thus banks or other firms that might accept payments over extended periods cannot recover the costs of offering credit through the Western tactic of charging interest. How does globalization affect you and me? Businesses $1Trillion, Indeed, 8 Reasons Why Organizational Culture is Important, Forbes, How Happy Employees Lead To Happy Customers, Companies And Shareholders, Inc., Google Says It Still Uses the 20-Percent Rule, and You Should Totally Copy It, IPX1031, How Americans Plan to Vacation During Covid-19, 2023 Ohio University. Parking and accessibility are two of the most important factors to consider. German and Swedish shoppers are also reasonably confident, with 42% and 47% agreeing respectively. The way consumers think and behave is influenced by culture. Because of all the marketing campaigns that have been run to promote the product, i.e. Our summaries and analyses are written by experts, and your questions are answered by real teachers. It is imperative that the brand's identity and personality are kept uniform across markets, and the brand's culture dictates the identity and personality. (2005) (11th ed.) The business culture in Singapore is exceedingly competitive and is based on a strong work ethic.

What are the major cultural factors that affect international business? International business transactions span not only national boundaries but also cultural divides. ICTSD (International Centre for Trade and Sustainable Development) was established in 1996 as a non-profit organization based in Geneva, Switzerland. In order to offer a product to a foreign country, a marketer has to study its culture in depth. According to Pitta, Fung, and Isberg (1999), it is vital for success to have a basic understanding of the culture and the expectations within cultures as they affect all business transactions. WebBusiness culture is influenced by a broad range of factors, from values to priorities to how employees are managed. What is the effect of culture on doing business globally? It is very important to study the different elements of culture of the country. Innovation is also key to creating a good corporate culture. The business culture of every country is quietly affected by the social life and, Cultures are varying among different parts of the globe. However, doing business in China also means navigating the complexities that arise from China's unique historical, political, and cultural contexts. This means that such outlets needs higher staffing levels, and also better-maintained facilities, than they would in North America. Opinions expressed are those of the author. Some cultural practices can be destructive to trade, since some prohibit their loyals from partaking in some activities like farming of tea and coffee amongst seventh day Adventist, who believe that tea and coffee are like drugs and prohibit their believers from taking or contributing to production of the two cash crops, this would affect production and both local and international trading especially in countries where these two crops are major sources of income. Understand how culture affects business. and other media. In the history of business, there are many examples of cultural differences making companies vulnerable. Using appropriate theories critically analyse the role of culture in International Business. Therefore, when considering the culture aspect to current business world, it is crucial for business to understand the culture aspect because of the tremendous growth of international business as well as utilize the international market to its maximum, D2 Evaluate the impact of cultural differences on international business performance in the international market. This point is important to do business in. Companies with a positive culture are more enjoyable workplaces and, more importantly, tend to have better retention rates. Failing to understand and consider the cultural differences will likely result in failure. In Egypt or any other country with firm Islamic foundations, workers would only work for 6hours a day during the month of Ramadan, for any business to thrive in these countries this cultural practice should be considered and factored in company policies failure to which production and business transactions during this period would heavily be affected. The region as a whole where most people claim to be spending less due to high food prices is Latin America, where 74% agree with this policy. Why is country culture important in business? As the effects of the recession are felt around the world, the reactions of consumers in different countries to rising food prices is far from uniform, although regional trends have been revealed. what astronaut visited jeff bezos lately wee?

For instance, primarily Hindu India is not nearly as accepting of McDonalds as other nations are because of the prominence of beef in its products. In todays world many companies are expanding their business by opening new plants and franchises in different countries in order to maximize their profit margins and reduce their labor costs. CNN reports that according to NordVPN Teams, which provides VPNs to businesses, remote work has led to a 2.5-hour average increase in the workday in the U.S. IPX20131, part of Fidelity National Financial, found that 37% of those surveyed had put their vacation plans on hold due to the pandemic. International business. 2023 eNotes.com, Inc. All Rights Reserved. Some business managers may wrongly assume that the key to creating a strong company culture is merely to offer more perks to employees. In some cultures, the value systems and ethics will be critically affected on the business. The cost of doing business is equal to your total annual costs divided by the number of billable days. The importance of time and punctuality Business etiquette is a set of rules that govern how people conduct themselves in the workplace. It also impacts the functional areas of marketing, sales, and distribution. Failure to understand and adapt to these differences may.

No worries! What is cost of doing business in economics? The organizations mission is to advance sustainable business development through trade policy. Accessed 6 Apr. These differences can be a significant barrier for an international business leader. 1). An equation determines your cost of doing business. Non-verbal cues. Every country differs in what economic system is being used. International Business: Competing in the Global Marketplace (8th ed.) What is the role of business in the economy? Europe is less affected overall, with just 55% of people claiming that they have been forced to cut their spending because they are finding the cost of food too high. This is important in setting up and running any business venture. This implies closer attention to be given to understanding the needs of customers around the world, building new relationships and capabilities in diverse markets, evaluating the work force to balance talent and productivity with cost and competitiveness and navigating a regulatory environment with consistent standards of integrity across the globe. It is very difficult for outsiders to go business there. This means that if a company does not have Broad-Based Black Economic Empowerment (B-BBEE) strategies in place, it is not eligible for any government contracts, which means it is likely to have to charge private clients more so that it can earn money. This may be because the recession has not yet had a massive impact in these nations or because, culturally, cutting back on food is not a personal priority for people in these areas. how does culture affect the cost of doing business?

2009.