Cultural Differences

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What are some examples of cultural differences around the world that can affect business practices?

Should a business change practices based on cultural sensitivities?

Why or why not? 

Oct 21st, 2017

A GREAT cultural example is the fact that Islam prohibits the charging of interest. When dealing with contracts in the Middle East, interest is still charged, but it isn't called "interest". Other names are used to apply, and the ways in which they apply are specialized and vary depending on the subject matter of the transaction.

Yes, cultural differences should affect how a business practices. If you are not culturally sensitive, you can end up with a much smaller market than you would otherwise have. Not every business should bend to every culture, but cultural sensitivity can provide many opportunities that would otherwise be unavailable. Of course, some businesses don't wish to have a larger market share, and if they don't, then this is one way to keep their market limited.


Feb 17th, 2015

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