11
Socio-Cultural and Ethical Environment
Bombay Stock Exchange, Mumbai, India∗
CHAPTER OBJECTIVES
The socio-cultural and ethical environment varies among countries. Managers must be acquainted with the environment in order to enhance performance. The objective of the present chapter is to:
- Explain the concept of culture—its meaning and essential elements.
- Analyse the different bases of cultural diversity.
- Show how cultural diversity influences an international firm’s competitive advantage.
- Explain how cultural diversity is managed.
- Explain the concept of ethics and social responsibility.
- Analyse the nature of normative and relative ...
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