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relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25125/glossary-industrialemployee-relations.html" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21670/unit-3.html" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21744/31-sources-of-finance.html" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24501/glossary-sources-of-finance.html" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21745/32-costs-and-revenues.html" title="3.2 Costs and revenues">3.2 Costs and revenues</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22092/glossary-costs-revenues.html" title="Glossary: Costs & revenues">Glossary: Costs & revenues</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21746/33-break-even-analysis.html" title="3.3 Break-even analysis">3.3 Break-even analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22270/contribution-analysis.html" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22093/glossary-break-even-analysis.html" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21747/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31367/glossary-final-accounts.html" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21749/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25114/glossary-efficiency-ratios.html" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21750/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25118/cash-flow-forecasts.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31376/glossary-cash-flow.html" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21751/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31377/glossary-investment-appraisal-.html" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21752/39-budgets-hl-only.html" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31378/39-budgets-hl-only-glossary.html" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21684/unit-4.html" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21767/41-the-role-of-marketing.html" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25618/glossary-the-role-of-marketing.html" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21768/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../28328/glossary-marketing-planning.html" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21769/43-sales-forecasting-hl-only.html" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25713/glossary-sales-forecasting.html" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21713/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25208/glossary-market-research.html" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21770/45-the-four-ps.html" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22627/glossary-product.html" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22525/price.html" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22548/glossary-price.html" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22567/promotion.html" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22704/45-promotion-glossary.html" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22745/place.html" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../23813/45-place-glossary.html" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21774/46-the-extended-marketing-mix-7-ps-hl.html" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23814/glossary-the-extended-marketing-mix-hl.html" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21772/47-international-marketing-hl-only.html" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23815/glossary-international-marketing-hl.html" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21773/48-e-commerce.html" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23797/glossary-e-commerce.html" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21688/unit-5.html" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21937/51-the-role-of-operations-management.html" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24839/glossary-lean-production-and-quality-management.html" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21700/54-location.html" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25032/glossary-production-planning.html" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33222/56-research-development-hl.html" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../34014/glossary-research-development.html" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21941/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25042/glossary.html" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25115/cuegis.html" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../21954/mcdonalds-supersize-me.html" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22876/planning-your-cuegis-essay.html" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33806/paper-2-section-c-questions.html" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../33959/the-ia.html" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22190/35-sample-research-questions-for-the-hl-ia.html" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22200/hl-ia-student-checklist.html" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33508/ia-hl-poster.html" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22146/sl-ia-20-sample-titles.html" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38181/faq-about-the-sl-ia.html" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../22114/exams.html" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../38059/flashcards-revision.html" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38060/flashcards-revision-unit-1.html" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38056/unit-11-revision-flashcards.html" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38061/unit-12-revision-flashcards.html" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38067/unit-13-revision-flashcards.html" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38092/unit-14-revision-flashcards.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38096/unit-15-revision-flashcards.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38102/unit-16-revision-flashcards.html" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38103/unit-17-revision-flashcards.html" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38114/flashcards-revision-unit-2.html" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38121/unit-21-revision-flashcards.html" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38125/unit-22-revision-flashcards.html" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38126/unit-23-revision-flashcards.html" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38144/unit-24-revision-flashcards.html" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38146/unit-25-revision-flashcards.html" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38147/unit-26-revision-flashcards-hl-only.html" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38149/flashcards-revision-unit-3.html" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38153/unit-31-revision-flashcards.html" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38154/unit-32-revision-flashcards.html" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38182/unit-33-revision-flashcards.html" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38183/unit-34-revision-flashcards.html" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38191/unit-35-revision-flashcards.html" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38192/unit-36-revision-flashcards-hl.html" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38193/unit-37-revision-flashcards.html" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38194/unit-38-revision-flashcards.html" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38195/unit-39-revision-flashcards.html" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38196/flashcards-revision-unit-4.html" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38198/unit-41-revision-flashcards.html" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38203/unit-42-revision-flashcards.html" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38217/unit-43-revision-flashcards.html" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38218/unit-44-revision-flashcards.html" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38219/unit-45a-product-revision-flashcards.html" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38220/unit-45b-price-revision-flashcards.html" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38221/unit-45c-promotion-revision-flashcards.html" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38222/unit-45d-promotion-revision-flashcards.html" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38223/unit-46-revision-flashcards-hl.html" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38224/unit-47-revision-flashcards-hl.html" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38225/unit-48-e-commerce-flashcards.html" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38232/flashcards-revision-unit-5.html" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38233/unit-51-revision-flashcards.html" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38234/unit-52-revision-flashcards.html" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38235/unit-53-revision-flashcards-hl.html" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38236/unit-54-revision-flashcards.html" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38237/unit-55-revision-flashcards-hl.html" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38238/unit-56-revision-flashcards-hl.html" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38239/unit-57-revision-flashcards-hl.html" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33830/formulae-quiz.html" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44969/n22-case-study-ele-plc.html" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../44106/additional-exam-questions-paper-1.html" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../32840/may-2020-p-s-trawlers.html" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../47825/paper-1-svt-study-guide-shirin-karimi.html" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../26095/exam-study-tips-resources.html" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../31342/revision-exams-top-tips.html" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../47460/top-tips-for-m23-exams.html" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44034/11-what-is-a-business.html" title="1.1 What is a business?">1.1 What is a business?</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399695.html" title="The nature of business">The nature of business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399694.html" title="Primary, secondary, tertiary, & quaternary sectors">Primary, secondary, tertiary, & quaternary sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399693.html" title="Entrepreneurship">Entrepreneurship</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399692.html" title="Challenges & opportunities for starting a business">Challenges & opportunities for starting a business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399691.html" title="1.1 True or False Quiz">1.1 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399690.html" title="1.1 Revision Flashcards">1.1 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399689.html" title="1.1 Glossary of key terms">1.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399688.html" title="Public & private sectors">Public & private sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399687.html" title="Types of for-profit organizations">Types of for-profit organizations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399686.html" title="For-profit social enterprises">For-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399685.html" title="Non-profit social enterprises">Non-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399684.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399683.html" title="1.2 Revision Flashcards">1.2 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399682.html" title="1.2 Glossary of key terms">1.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399679.html" title="Vision and mission statements">Vision and mission statements</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399680.html" title="Common business objectives">Common business objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399678.html" title="Strategic & tactical objectives">Strategic & tactical objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399677.html" title="Corporate social responsibility">Corporate social responsibility</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399676.html" title="1.3 Revision Flashcards">1.3 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399674.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399675.html" title="1.3 Glossary of Key terms">1.3 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399673.html" title="The interests of stakeholders">The interests of stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399672.html" title="Conflict between stakeholders">Conflict between stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399670.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399669.html" title="1.4 True or False">1.4 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399671.html" title="1.4 Glossary of Key terms">1.4 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44212/economies-diseconomies-of-scale-1.html" title="Economies & diseconomies of scale">Economies & diseconomies of scale</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44214/internal-and-external-growth-1.html" title="Internal and external growth">Internal and external growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44220/external-growth-methods-1.html" title="External growth methods">External growth methods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44219/reasons-to-grow-or-stay-small-1.html" title="Reasons to grow or stay small">Reasons to grow or stay small</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45586/unit-15revision-flashcards-1.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45450/true-or-false-quiz-1.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43673/15-glossary-of-key-terms-1.html" title="1.5 Glossary of key terms">1.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44236/the-impact-of-mncs-on-host-countries-ao3-1.html" title="The impact of MNCs on host countries (AO3)">The impact of MNCs on host countries (AO3)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44240/video-documentaries-mncs-1.html" title="Video documentaries - MNCs">Video documentaries - MNCs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45587/16-glossary-of-key-terms-1.html" title="1.6 Glossary of key terms">1.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43530/unit-2-hrm.html" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44253/21-introduction-to-hrm.html" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44256/role-of-hrm.html" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44257/factors-that-influence-hr-planning.html" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44282/reasons-for-resistance-to-change.html" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch.html" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45458/21-true-or-false-quiz.html" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43677/21-glossary-of-key-terms.html" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43875/22-organizational-structure.html" title="2.2 Organizational structure">2.2 Organizational structure</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44296/terminology-for-understanding-organizational-structures-1.html" title="Terminology for understanding organizational structures">Terminology for understanding organizational structures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44310/types-of-organization-charts-1.html" title="Types of organization charts">Types of organization charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44323/appropriateness-of-organizational-structures-and-external-factor-1.html" title="Appropriateness of organizational structures and external factors">Appropriateness of organizational structures and external factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44316/changes-in-organizational-structures-hl-1.html" title="Changes in organizational structures (HL)">Changes in organizational structures (HL)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44338/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44343/scientific-intuitive-management-hl-1.html" title="Scientific & intuitive management (HL)">Scientific & intuitive management (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44339/management-and-leadership-1.html" title="Management and leadership">Management and leadership</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44340/leadership-styles-1.html" title="Leadership styles">Leadership styles</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45462/23-true-or-false-quiz.html" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43829/24-motivation-and-demotivation.html" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44349/motivation-theories-sl-hl-1.html" title="Motivation theories (SL & HL)">Motivation theories (SL & HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44353/motivation-theories-hl-1.html" title="Motivation theories (HL)">Motivation theories (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44354/labour-turnover-hl-1.html" title="Labour turnover (HL)">Labour turnover (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44361/types-of-appraisal-hl-1.html" title="Types of appraisal (HL)">Types of appraisal (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44383/methods-of-recruitment-hl-1.html" title="Methods of recruitment (HL)">Methods of recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44382/internal-external-recruitment-hl-1.html" title="Internal & external recruitment (HL)">Internal & external recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44363/types-of-financial-rewards-1.html" title="Types of financial rewards">Types of financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44370/types-of-non-financial-rewards-1.html" title="Types of non-financial rewards">Types of non-financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44392/organizational-culture-hl-1.html" title="Organizational culture (HL)">Organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44393/types-of-organizational-culture-hl-1.html" title="Types of organizational culture (HL)">Types of organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44394/cultural-clashes-hl-1.html" title="Cultural clashes (HL)">Cultural clashes (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44247/26-communication.html" title="2.6 Communication">2.6 Communication</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43545/unit-3-finance.html" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44435/31-introduction-to-finance.html" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44431/31-introduction-to-finance-role-of-finance.html" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45634/31-glossary-of-key-term.html" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44436/32-sources-of-finance.html" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44437/internal-sources-of-finance.html" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44450/external-sources-of-finance.html" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44479/appropriateness-of-sources-of-finance.html" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45483/32-true-or-false-quiz.html" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43688/32-glossary-of-key-terms.html" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44486/33-costs-and-revenues.html" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44487/types-of-costs-1.html" title="Types of costs">Types of costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44491/total-revenue-revenue-streams-1.html" title="Total revenue & revenue streams">Total revenue & revenue streams</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45484/33-true-or-false-quiz-1.html" title="3.3 True or false quiz">3.3 True or false quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45657/33-glossary-of-key-terms-1.html" title="3.3 Glossary of key terms">3.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44527/the-purpose-of-accounts-to-different-stakeholders-1.html" title="The purpose of accounts to different stakeholders">The purpose of accounts to different stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44577/profit-loss-account-2.html" title="Profit & loss account">Profit & loss account</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44579/balance-sheets-1.html" title="Balance sheets">Balance sheets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44560/types-of-intangible-assets-1.html" title="Types of intangible assets">Types of intangible assets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44585/depreciation-hl-1.html" title="Depreciation (HL)">Depreciation (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45919/34-true-or-false-quiz-1.html" title="3.4 True or False Quiz">3.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45658/34-glossary-of-key-terms-1.html" title="3.4 Glossary of key terms">3.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44595/profitability-ratios.html" title="Profitability ratios">Profitability ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44626/liquidity-ratios-1.html" title="Liquidity ratios">Liquidity ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45486/35-true-or-false-quiz-1.html" title="3.5 True or False Quiz">3.5 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45661/35-glossary-of-key-terms-1.html" title="3.5 Glossary of key terms">3.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44627/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44805/efficiency-ratios-hl-1.html" title="Efficiency ratios (HL)">Efficiency ratios (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44633/insolvency-versus-bankruptcy-1.html" title="Insolvency versus bankruptcy">Insolvency versus bankruptcy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45488/36-true-or-false-quiz-1.html" title="3.6 True or False Quiz">3.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45662/36-glossary-of-key-terms-1.html" title="3.6 Glossary of key terms">3.6 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44502/the-difference-between-profit-cash-flow-1.html" title="The difference between profit & cash flow">The difference between profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44506/working-capital-1.html" title="Working capital">Working capital</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44557/liquidity-position-1.html" title="Liquidity position">Liquidity position</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44558/cash-flow-forecasts-1.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44507/relationship-between-investment-profit-cash-flow-1.html" title="Relationship between investment, profit & cash flow">Relationship between investment, profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44509/strategies-for-dealing-with-cash-flow-problems-1.html" title="Strategies for dealing with cash flow problems">Strategies for dealing with cash flow problems</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45493/37-true-or-false-1.html" title="3.7 True or False">3.7 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43687/37-glossary-of-key-terms-1.html" title="3.7 Glossary of key terms">3.7 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44515/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44516/payback-period-average-rate-of-return-1.html" title="Payback period & Average rate of return">Payback period & Average rate of return</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45494/38-true-or-false-quiz-1.html" title="3.8 True or False Quiz">3.8 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43693/38-glossary-of-key-terms-1.html" title="3.8 Glossary of key terms">3.8 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44565/the-difference-between-cost-profit-centres-1.html" title="The difference between cost & profit centres">The difference between cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44568/the-roles-of-cost-profit-centres-1.html" title="The roles of cost & profit centres">The roles of cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44576/constructing-budgets-1.html" title="Constructing budgets">Constructing budgets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44569/variances-1.html" title="Variances">Variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44571/the-importance-of-budgets-variances-1.html" title="The importance of budgets & variances">The importance of budgets & variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45495/39-true-or-false-quiz-1.html" title="3.9 True or False Quiz">3.9 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43694/39-glossary-of-key-terms.html" title="3.9 Glossary of key terms">3.9 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44638/market-orientation-vs-product-orientation-1.html" title="Market orientation vs Product orientation">Market orientation vs Product orientation</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44639/market-share-1.html" title="Market share">Market share</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44641/market-growth-1.html" title="Market growth">Market growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44642/importance-of-market-share-market-leadership-hl-1.html" title="Importance of market share & market leadership (HL)">Importance of market share & market leadership (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43695/41-glossary-of-key-terms-1.html" title="4.1 Glossary of key terms">4.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44645/the-role-of-marketing-planning-1.html" title="The role of marketing planning">The role of marketing planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44654/segmentation-targeting-and-positioning-1.html" title="Segmentation, targeting, and positioning">Segmentation, targeting, and positioning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44646/difference-between-niche-mass-market-1.html" title="Difference between niche & mass market">Difference between niche & mass market</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43821/the-importance-of-having-a-usp-1.html" title="The importance of having a USP">The importance of having a USP</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44655/how-organizations-differentiate-themselves-1.html" title="How organizations differentiate themselves">How organizations differentiate themselves</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43834/42-vocab-quiz-1.html" title="4.2 Vocab Quiz">4.2 Vocab Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45528/42-true-or-false-quiz-1.html" title="4.2 True or False Quiz">4.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43696/42-glossary-of-key-terms-1.html" title="4.2 Glossary of key terms">4.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44660/43-sales-forecasting-hl.html" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44669/benefits-limitations-of-sales-forecasting.html" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45530/43-true-or-false-quiz-1.html" title="4.3 True or False Quiz">4.3 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43711/43-glossary-of-key-terms-1.html" title="4.3 Glossary of key terms">4.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44679/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44680/why-how-organizations-carry-out-market-research.html" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44692/methodstechniques-of-primary-market-research-1.html" title="Methods/techniques of primary market research">Methods/techniques of primary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44693/methodstechniques-of-secondary-market-research-1.html" title="Methods/techniques of secondary market research">Methods/techniques of secondary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44694/qualitative-quantitative-research-1.html" title="Qualitative & quantitative research">Qualitative & quantitative research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44695/methods-of-sampling-1.html" title="Methods of sampling">Methods of sampling</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45531/44-true-or-false-quiz-1.html" title="4.4 True or False Quiz">4.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43712/44-glossary-of-key-terms-1.html" title="4.4 Glossary of key terms">4.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44720/45-the-seven-ps-of-the-marketing-mix.html" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44740/451-product.html" title="4.5.1 Product">4.5.1 Product</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44741/the-product-life-cycle-1.html" title="The product life cycle">The product life cycle</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44745/extension-strategies-1.html" title="Extension strategies">Extension strategies</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44981/relationship-between-the-plc-investment-profit-cash-flow-1.html" title="Relationship between the PLC, investment, profit & cash flow">Relationship between the PLC, investment, profit & cash flow</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44748/aspects-of-branding.html" title="Aspects of branding">Aspects of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44757/the-importance-of-branding-1.html" title="The importance of branding">The importance of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../45766/starterplenary-activity-anagrams-quiz-brands-1.html" title="Starter/Plenary activity - Anagrams Quiz (Brands)">Starter/Plenary activity - Anagrams Quiz (Brands)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../45957/starterplenary-activity-whats-in-a-brand-name-1.html" title="Starter/Plenary activity - What's in a (brand) name?">Starter/Plenary activity - What's in a (brand) name?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43713/45-glossary-of-key-terms-product-1.html" title="4.5 Glossary of key terms (Product)">4.5 Glossary of key terms (Product)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42547/452-price-1.html" title="4.5.2 Price">4.5.2 Price</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43719/45-key-terms-price-1.html" title="4.5 Key Terms (Price)">4.5 Key Terms (Price)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44783/above-the-line-promotion-1.html" title="Above the line promotion">Above the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44795/below-the-line-promotion-1.html" title="Below the line promotion">Below the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44797/through-the-line-promotion-1.html" title="Through the line promotion">Through the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44801/social-media-marketing-1.html" title="Social media marketing">Social media marketing</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43721/45-glossary-of-key-terms-1.html" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44803/454-place-1.html" title="4.5.4 Place">4.5.4 Place</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44804/the-importance-of-different-distribution-channels-1.html" title="The importance of different distribution channels">The importance of different distribution channels</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43722/45-glossary-of-key-terms-1.html" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44758/455-people-1.html" title="4.5.5 People">4.5.5 People</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44773/456-processes-1.html" title="4.5.6 Processes">4.5.6 Processes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44774/457-physical-evidence-1.html" title="4.5.7 Physical evidence">4.5.7 Physical evidence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44982/appropriate-marketing-mixes-1.html" title="Appropriate marketing mixes">Appropriate marketing mixes</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44698/opportunities-threats-posed-by-entry-into-international-markets-1.html" title="Opportunities & threats posed by entry into international markets">Opportunities & threats posed by entry into international markets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45537/46-true-or-false-quiz-1.html" title="4.6 True or False Quiz">4.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45736/46-glossary-of-key-terms-1.html" title="4.6 Glossary of key terms">4.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44818/the-role-of-operations-management-1.html" title="The role of operations management">The role of operations management</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44815/operations-methods-1.html" title="Operations methods">Operations methods</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44861/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44864/features-of-lean-production.html" title="Features of lean production">Features of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44872/methods-of-lean-production.html" title="Methods of lean production">Methods of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44874/cradle-to-cradle-design-manufacturing.html" title="Cradle to cradle design & manufacturing">Cradle to cradle design & manufacturing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44875/quality-control-quality-assurance.html" title="Quality control & quality assurance">Quality control & quality assurance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44876/methods-of-managing-quality.html" title="Methods of managing quality">Methods of managing quality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44877/the-impact-of-lean-production-tqm.html" title="The impact of lean production & TQM">The impact of lean production & TQM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44878/national-international-quality-standards.html" title="National & international quality standards">National & international quality standards</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44843/contribution.html" title="Contribution">Contribution</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44848/aspects-of-break-even-analysis.html" title="Aspects of break-even analysis">Aspects of break-even analysis</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44851/changes-in-price-and-costs.html" title="Changes in price and costs">Changes in price and costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44852/limitations-of-break-even-analysis.html" title="Limitations of break-even analysis">Limitations of break-even analysis</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44902/the-local-global-supply-chain-process.html" title="The local & global supply chain process">The local & global supply chain process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44922/the-difference-between-jit-jic.html" title="The difference between JIT & JIC">The difference between JIT & JIC</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44931/stock-control-charts.html" title="Stock control charts">Stock control charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44970/capacity-utilization-rate.html" title="Capacity utilization rate">Capacity utilization rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45125/defect-rate.html" title="Defect rate">Defect rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43832/productivity.html" title="Productivity">Productivity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45187/cost-to-buy-cost-to-make.html" title="Cost to buy & Cost to make">Cost to buy & Cost to make</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../46353/sinterklaas-putting-ctb-vs-ctm-into-practice.html" title="Sinterklaas - Putting CTB vs CTM into practice">Sinterklaas - Putting CTB vs CTM into practice</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45242/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45243/difference-between-crisis-management-contingency-planning.html" title="Difference between crisis management & contingency planning">Difference between crisis management & contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45268/impact-of-contingency-planning.html" title="Impact of contingency planning">Impact of contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45260/factors-that-affect-effective-crisis-management.html" title="Factors that affect effective crisis management">Factors that affect effective crisis management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45554/57-true-or-false-quiz.html" title="5.7 True or False Quiz">5.7 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42633/data-analytics.html" title="Data analytics">Data analytics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45861/database.html" title="Database">Database</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44966/cybersecurity-and-cybercrime.html" title="Cybersecurity and cybercrime">Cybersecurity and cybercrime</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45859/critical-infrastructures.html" title="Critical infrastructures">Critical infrastructures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../46175/virtual-reality.html" title="Virtual reality">Virtual reality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45862/the-internet-of-things.html" title="The internet of things">The internet of things</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45858/artificial-intelligence.html" title="Artificial intelligence">Artificial intelligence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42634/big-data.html" title="Big data">Big data</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43392/customer-loyalty-programmes.html" title="Customer loyalty programmes">Customer loyalty programmes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43395/digital-taylorism.html" title="Digital Taylorism">Digital Taylorism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45671/data-mining.html" title="Data mining">Data mining</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45856/benefits-risks-ethical-implications-of-mis.html" title="Benefits, risks, & ethical implications of MIS">Benefits, risks, & ethical implications of MIS</a></li></ul></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../42640/bmt-.html" title="BMT ">BMT </a></li><ul class="level-1 expanded"><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399696.html" title="BMT 1 - SWOT analysis">BMT 1 - SWOT analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399697.html" title="BMT 2 - Ansoff matrix">BMT 2 - Ansoff matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44027/bmt-3-steeple-analysis.html" title="BMT 3 - STEEPLE analysis">BMT 3 - STEEPLE analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42577/bmt-4-boston-consulting-group-matrix.html" title="BMT 4 - Boston Consulting Group matrix">BMT 4 - Boston Consulting Group matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42956/bmt-5-business-plans.html" title="BMT 5 - Business plans">BMT 5 - Business plans</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43606/bmt-6-decision-trees.html" title="BMT 6 - Decision trees">BMT 6 - Decision trees</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42362/bmt-7-descriptive-statistics.html" title="BMT 7 - Descriptive statistics">BMT 7 - Descriptive statistics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42226/bmt-8-circular-business-models.html" title="BMT 8 - Circular Business Models">BMT 8 - Circular Business Models</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43605/bmt-9-gantt-chart-hl-only.html" title="BMT 9 - Gantt chart (HL only)">BMT 9 - Gantt chart (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42214/bmt-10-porters-generic-strategies-hl-only.html" title="BMT 10 - Porter's generic strategies (HL only)">BMT 10 - Porter's generic strategies (HL only)</a></li><li class="current" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="bmt-11-hofstedes-cultural-dimensions-hl-only.html" title="BMT 11 - Hofstede's cultural dimensions (HL only)">BMT 11 - Hofstede's cultural dimensions (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399698.html" title="BMT 12 - Force field analysis (HL only)">BMT 12 - Force field analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42375/bmt-13-critical-path-analysis-hl-only.html" title="BMT 13 - Critical path analysis (HL only)">BMT 13 - Critical path analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42344/bmt-14-contribution-hl-only-.html" title="BMT 14 - Contribution (HL only) ">BMT 14 - Contribution (HL only) </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42311/bmt-15-simple-linear-regression-hl-only.html" title="BMT 15 - Simple linear regression (HL only)">BMT 15 - Simple linear regression (HL only)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42758/concepts.html" title="Concepts">Concepts</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43633/creativity.html" title="Creativity">Creativity</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43631/ethics.html" title="Ethics">Ethics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43435/sustainability.html" title="Sustainability">Sustainability</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43668/change.html" title="Change">Change</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42836/ia-.html" title="IA ">IA </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44415/formulating-suitable-ia-questions.html" title="Formulating suitable IA questions">Formulating suitable IA questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../47685/supporting-documents-for-the-ia.html" title="Supporting documents for the IA">Supporting documents for the IA</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../47840/top-tips-for-the-ia-primary-research.html" title="Top tips for the IA – Primary research">Top tips for the IA – Primary research</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44047/50-sample-ia-research-questions-1.html" title="50+ Sample IA research questions">50+ Sample IA research questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../46719/recommended-format-for-the-ia.html" title="Recommended format for the IA">Recommended format for the IA</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43603/exams.html" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44091/paper-1.html" title="Paper 1">Paper 1</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 2">Paper 2</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../46637/01-ikea.html" title="01 - IKEA">01 - IKEA</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45839/quantitative-techniques.html" title="Quantitative techniques">Quantitative techniques</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../46025/abbreviations-quiz.html" title="Abbreviations Quiz">Abbreviations Quiz</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43740/command-terms.html" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45612/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../33955/the-core.html" title="The Core">The Core</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../34902/cas-bm.html" title="CAS & BM">CAS & BM</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21665/the-ee.html" title="The EE">The EE</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21934/the-bm-extended-essay.html" title="The BM Extended Essay">The BM Extended Essay</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../32857/ee-planning-form.html" title="EE Planning form">EE Planning form</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37390/managing-the-ee-process.html" title="Managing the EE process">Managing the EE process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37496/top-10-tips-for-the-bm-ee.html" title="Top 10 tips for the BM EE">Top 10 tips for the BM EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21930/70-top-bm-ee-research-questions.html" title="70 top BM EE Research Questions">70 top BM EE Research Questions</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22196/tools-techniques-theories-for-the-ee.html" title="Tools, techniques & theories for the EE">Tools, techniques & theories for the EE</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44048/the-triple-bottom-line.html" title="The triple bottom line">The triple bottom line</a></li></ul><li class="" 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<div id="main-column" class="span9"> <article id="bmt-11-hofstedes-cultural-dimensions-hl-only" style="margin-top: 16px;">
<h1 class="section-title">BMT 11 - Hofstede's cultural dimensions (HL only)</h1>
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<div class="panel panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"> <span style="font-family:arial,helvetica,sans-serif;">Business Management Toolkit 11 - </span>Hofstede's cultural dimensions (HL only)</span></strong></p></div></div><div class="panel-body"><div><p><img alt="" height="275" src="../../../ib/businessmanagement/images/culture_factors-1.jpg" width="573"></p><p><span style="color:#696969;"><em>“Culture is the collective mental programming of the human mind by which one group of people distinguishes itself from another group.”</em><br>- Geert H. Hofstede (1928 - 2020), Dutch social psychologist</span></p><hr class="hidden"><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Watch this 60-second HSBC advert that highlights our ever-more globalized world, which suggests why understanding cultural dimensions across the world is so important for businesses.</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/KJ3uwPHUV9w" title="YouTube video player" width="640"></iframe></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;">What is culture?</span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Culture </strong>is often described as <em>"the way things are done here"</em>. It refers to the<span style="font-family:arial,helvetica,sans-serif;"> way of doing things are done or how things are done within an organization, community, or country. </span> <strong>Corporate culture</strong> refers to a set of beliefs and work attitude that is accepted in an organization. It can refer to the norms within an organization (such as the dress code within a business) and national or regional cultures (and how these impact on the organizational culture). Culture penetrates all aspects of Business Management, from how workers dress for work (business attire), to how budgets are set and which leadership style is <span style="font-family:arial,helvetica,sans-serif;">dominant </span>in an organization.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Essentially, culture influences everything in a business, from how meetings are conducted to how decisions are made. Culture influences individuals, and can be influenced by individuals.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Culture impacts all aspects of an organization. Essentially, culture is about:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">People (relationships between employees and managers)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Processes (how things are done)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Policies (what is important to the organization), and</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Past experiences (institutional knowledge).</span></p></li></ul><p><span style="font-family:arial,helvetica,sans-serif;">National or regional culture is often described or explained using the 8 Fs:</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Fables</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Faiths</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Famous people</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Fashion</span></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Festivals</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Filmography</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Flags</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Foods</span></p></li></ul></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="91" src="../../../ib/businessmanagement/images/flags.jpg" width="308"></span><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><br><em>Flags are symbolic of national or regional cultures</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;">In addition to these eight Fs, the historical context of the country is important to understanding culture, and how this impacts on businesses operating within the country. For example, French colonies have included parts of modern-day USA, Canada, Vietnam, Algeria, Congo, Mali, and Cameroon. Although French is not largely spoken in Vietnam any more, it is still one of the most widely spoken foreign languages in Vietnam as part of the legacy of colonial rule.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Similarly, <em>cultural imperialism</em> has impacted cultures in different areas of the world. This refers to one nation imposing its culture on another through political and/or economic influence. For example, Hong Kong was under British rule until 1997. Not surprisingly, perhaps, is that English is the official business language in Hong Kong, a special administrative region of the People's Republic of China.</span></p><div class="yellowBg"><h5><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Case Study 1 - Language and culture</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="154" src="../../../ib/businessmanagement/images/language.jpg" width="260"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Language refers to the aspect of a people’s culture that defines how they communicate. Language is rooted in culture, yet the ignorance of language and how it is used in different parts of the world can cause major confusion and havoc for businesses. For example, “Salut” in French can mean either “hello” or “goodbye”, depending on the circumstance. In Italy, the word "Ciao" is an informal salutation used for both "hello" and "goodbye".</span></p><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Lost in translation?</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">A lack of understanding and appreciation can lead to branding errors for organizations trying to sell their products in international markets.</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><em>Bonka </em>– Nestle brand of coffee</p></li><li><p><em>Big Nuts </em>– chocolate bar from Cote D'or</p></li><li><p><em>Bimbo Sandwich</em> – brand of bread from France</p></li><li><p><em>Complicated Cake </em>– brand of Chinese cookies</p></li><li><p><em>Krapp </em>– a Swedish brand of toilet paper</p></li><li><p><em>Looza</em> – a soft drinks brand commonly found in vending machines in Luxembourg</p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>Nightmare </em>– a brand of pillows found in India</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>Pee Cola</em> – soft drinks brand from Ghana</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>Pipi </em>– Yugoslavian orangeade brand</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>Pocari Sweat</em> – brand of Japanese energy drink</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>Topcon </em><span style="font-family:arial,helvetica,sans-serif;">– </span>a Japanese electronics manufacturer</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>WeePee</em> <span style="font-family:arial,helvetica,sans-serif;">– </span>a Japanese child care centre</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><em>Zit </em>– Greek soft drinks brand</span></p></li></ul></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;">Language, history, fables and culture are intertwined and can be difficult to understand for those ‘outside’ of the culture. For example, it was illegal in Paris for women to wear trousers for both personal and professional reasons. This law lasted for 214 years, coming to an end only in 2012. Chinese Mandarin is the most spoken language on the planet, although language does not always translate well from one place to another.</span></p></div><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;">Hofstede's cultural dimensions</span></h5><p><span style="color:#696969;"><i>"How can there be peace without people understanding each other, and how can this be if they don't know each other?"</i><br>- Lester B Pearson, 1957, Canadian Prime Minister</span></p><p>Geert H. Hofstede’s cultural dimensions is a situational tool used by managers to understand the various aspects of cultures within and between organizations. It helps managers to recognize what motivates the workforce, how and why employees behave in the way they do, what they value, and how they make certain decisions.</p><p>This tool helps managers to understanding the cultural similarities and differences that exist between and across different countries. This helps them to determine more appropriate ways to conduct their operations given different national and international settings.</p><p>Hofstede’s research focused on managers and employees of IBM (the American technology corporation) across different parts of the world to investigate how different cultures may exist within the same organization. Hofstede developed his original model based on the results of a worldwide survey of IBM employees between 1967 and 1973. The data from his initial research covered more than 70 countries. This produced 4 cultural dimensions. He updated his model since, adding "long-term vs short-term orientation" following his subsequent research work in Hong Kong, and then "indulgence vs restraint" as the sixth cultural dimension in 2010. The DP Business Management syllabus focuses on all six cultural dimensions of Hofstede's model:</p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p>Power distance</p></li><li><p>Individualism vs collectivism</p></li><li><p>Masculinity vs femininity</p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p>Uncertainty avoidance</p></li><li><p>Long-term vs short-term orientation, and</p></li><li><p>Indulgence vs restraint</p></li></ul></div></div></div><hr class="hidden"><p>Understanding alternative cultural dimensions can enable a business to create marketing strategies that are specifically tailored to the cultural needs and preferences of its customers. The tool is particularly valuable for <a href="../44046/16-multinational-companies.html" title="New syllabus 2022 » Unit 1 - Introduction to Business Management » 1.6 Multinational companies">multinational companies</a> with operations in different regions of the world, where cultural norms and values are different from those in the domestic country. It is also particularly important when people from different regions or countries are working together within the same organization.</p><p>Culture clashes and stakeholder conflicts can occur if managers do not understand cultural differences within and between organizations, so fail to plan and adapt their corporate strategies accordingly. </p><div class="panel panel-default panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">1 Power distance</span></span></strong></p></div></div><div class="panel-body"><p><img alt="" src="../../../ib/businessmanagement/images/2-hrm/authority.jpeg" style="width: 280px; height: 187px;"></p><p><span style="color:#696969;"><em>A power distance culture is found in the army</em></span></p><p><strong>Power distance</strong> refers to the extent to which a culture accepts and respects authority and status. A high degree of power distance exists if an organizaton has centralized decision-making, hierarchical structures, and high regard for position or ranking within the organization, such as in the military (the Army, Navy, Air Force, Marines, and Coast Guard). Those under such an organizational culture accept power differences or inequalities, and show respect for authority. Decision-making is held by those with power and authority, i.e., decision making is centralized.</p><p>For example, in Japanese culture, there is a strong power distance with people respecting their seniors and elders. Society acknowledges, values, and rewards a person's age, seniority, status, and loyalty. Parents often make decisions on behalf of their children, without any consultation or discussions. Students accept the power and authority held by their teachers, and respect seniority in terms of older students in the school. Employees tend not to leave the office or workplace before their line managers do, out of respect. Promotion is often based on an employee's number of years of service (loyalty) rather than selecting a candidate who might be the most suitable for a job.</p><p><img alt="" height="219" src="../../../ib/businessmanagement/images/ageing-population.jpg" width="300"></p><p><span style="color:#696969;"><em>Senior citizens are treated with respect in Japan</em></span></p><p>Organizations with a high or strong degree of power distance are suitable for people who want to avoid conflict at all costs and do not like to engage in unproductive competition. However, such a culture can be frustrating for younger and ambitious workers who strive to get promoted quickly within an organization.</p><p>On the other hand, a low degree of power distance exists if there is decentralized decision-making, delegation, job empowerment, and flatter <a href="../43875/22-organizational-structure.html" title="New syllabus 2022 » Unit 2 - Human resource management » 2.2 Organizational structure">organizational structures</a>. In such cultures, senior managers are expected to work harder so workers are not accustomed to working longer hours than their bosses.</p><p>According to <a href="https://www.hofstede-insights.com">Hofstede Insights</a>, the power distance index shows very high scores for Latin American and Asian countries, as well as areas of Africa and the Arab world. In such cultures, people inherently accept a hierarchical structure and do not require further justification. On the other hand, many European countries (including Austria, Denmark, and the UK) have a low power index. In these countries, people strive for a more equal distribution of power and therefore demand justification for inequalities of power in society.</p></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">2 Individualism vs Collectivism</span></span></strong></p></div></div><div class="panel-body"><p>This cultural dimension refers to the degree to which people are integrated into groups in society. <strong>Individualism vs collectivism</strong> is about whether a society values the individual over a team or collective group of individuals in a specific community. Hence, this cultural dimension is sometimes referred to as the “I” vs “we” cultural dimension.</p><p><strong>Individualism </strong>refers to cultures that emphasise the needs of the individual over the needs of the group as a whole. In individualistic cultures, people do not take responsibility for others’ actions beyond themselves and their direct family. Instead, such individuals focus on their own personal goals and achievements.</p><p>By contrast, <strong>collectivism </strong>emphasises the importance of the group and social cooperation over the needs of any individual. Collectivist cultures integrate relationships in a community or society. From birth onwards, people in such cultures are integrated into strong and cohesive groups, such as extended families (with uncles, aunties, and grandparents), providing each other with support and protection. People are loyal to their designated group and take responsibility and accountability for one another, providing support to all members and acting in the best interest of the group. For example, in such cultures, individuals should never provide negative feedback or comments about their teams in public.</p><hr class="hidden"><p>Individualism vs Collectivism can be applied to the business of competitive sports. For example, in certain sports, the individual determines the outcome, whereas in other sports the outcome is totally dependent on the team working together. Without using the Internet, can you think of five or more different sports that do not rely on teamwork, i.e., the success depends purely on the individual?</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Possible examples include:</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><span style="color:#FF0000;">Athletics (e.g., 100 metres sprint)</span></p></li><li><p><span style="color:#FF0000;">Badminton (singles)</span></p></li><li><p><span style="color:#FF0000;">Bowling</span></p></li><li><p><span style="color:#FF0000;">Boxing</span></p></li><li><p><span style="color:#FF0000;">Chess</span></p></li><li><p><span style="color:#FF0000;">Darts</span></p></li><li><p><span style="color:#FF0000;">Fencing</span></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><span style="color:#FF0000;"><span style="color:#FF0000;">Golf</span></span></p></li><li><p><span style="color:#FF0000;">Skateboarding</span></p></li><li><p><span style="color:#FF0000;"><span style="color:#FF0000;"></span>Snooker / Pool</span></p></li><li><p><span style="color:#FF0000;">Swimming</span></p></li><li><p><span style="color:#FF0000;">Table tennis</span></p></li><li><p><span style="color:#FF0000;">Tae Kwon Do</span></p></li><li><p><span style="color:#FF0000;"><span style="color:#FF0000;">Tennis (singles)</span><span style="color:#FF0000;"></span></span></p></li></ul></div></div></div></section><hr class="hidden"><p>Without using the Internet, can you think of five or more different sports that rely on teamwork for success, i.e. the team is more important than any individual?</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Possible examples include:</span></p><p><img alt="" src="../../../ib/businessmanagement/images/football.jpg" style="width: 300px; height: 162px;"></p><p><span style="color:#696969;"><em>Association Football (soccer) is the world's most popular team sport</em></span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><span style="color:#FF0000;">American Football</span></li><li><span style="color:#FF0000;">Athletics, e.g. 4 × 100 metres relay</span></li><li><span style="color:#FF0000;">Baseball</span></li><li><span style="color:#FF0000;">Basketball</span></li><li><span style="color:#FF0000;">Cricket</span></li><li><span style="color:#FF0000;">Dodge ball</span></li><li><span style="color:#FF0000;">Football (soccer)</span></li></ul></div></div><div class="span6"><div><ul class="branded"><li><span style="color:#FF0000;"></span><span style="color:#FF0000;">Hockey</span></li><li><span style="color:#FF0000;">Lacrosse</span></li><li><span style="color:#FF0000;">Polo</span></li><li><span style="color:#FF0000;">Rowing</span></li><li><span style="color:#FF0000;">Rugby</span><span style="color:#FF0000;"></span></li><li><span style="color:#FF0000;">Synchronised swimming</span></li><li><span style="color:#FF0000;">Volleyball</span></li></ul></div></div></div></section><hr class="hidden"><p>This cultural dimension will affect employees’ behaviour at work. In some organizations and occupations, such as the <a href="../44257/factors-that-influence-hr-planning.html" title="New syllabus 2022 » Unit 2 - Human resource management » 2.1 Introduction to HRM » Factors that influence HR planning">gig economy</a>, workers focus on themselves. Examples include self-employed couriers, ride-sharing taxi drivers, and food delivery cyclists. Teamwork is relied upon in other organizations and occupations, such as marketers, film production, and</p><p><br><em>Table 1 - The differences between individualism and collectivism</em></p><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="text-align: center; background-color: rgb(247, 190, 129);"><strong>Individualism</strong></td><td style="text-align: center; background-color: rgb(247, 190, 129);"><strong>Collectivism</strong></td></tr><tr><td style="text-align: center;">Uniqueness is valued</td><td style="text-align: center;">Social harmony is valued</td></tr><tr><td style="text-align: center;">Speaking one's mind is important</td><td style="text-align: center;">Modesty is important</td></tr><tr><td style="text-align: center;">Self is defined by individual achievement</td><td style="text-align: center;">Self is defined by group membership or acceptance</td></tr><tr><td style="text-align: center;">Freedom and autonomy are valued</td><td style="text-align: center;">Support and protection are valued</td></tr><tr><td style="text-align: center;">Discomfort working as part of a team</td><td style="text-align: center;">Comfort working as part of a team</td></tr><tr><td style="text-align: center;">Everyone has a right to privacy</td><td style="text-align: center;">Privacy is not expected</td></tr><tr><td style="text-align: center;">Rule-breaking leads to guilt and loss of self-respect</td><td style="text-align: center;">Rule-breaking leads to shame/loss of face</td></tr><tr><td style="text-align: center;">Competition and taking credit are highly valued</td><td style="text-align: center;">Cooperation and collaboration are highly valued</td></tr><tr><td style="text-align: center;">Centralized decision making, without any delegation</td><td style="text-align: center;">Decentralized decision making, with delegation</td></tr><tr><td style="text-align: center;">Self-reliance is seen as the norm</td><td style="text-align: center;">Shared responsibility and interdependence are the norm</td></tr><tr><td style="text-align: center;">Self-actualization is a goal</td><td style="text-align: center;">Advancing the interests of the group is the goal</td></tr></tbody></table><hr class="hidden">According to <a href="https://www.hofstede-insights.com/fi/product/compare-countries/">Hofstede Insights</a>, individualism is high in Australia, Italy, the US, and the UK. Contrarily, Costa Rica, Guatemala, Malaysia, Portugal, Serbia, Taiwan, and Venezuela are considered to be collectivist societies.<div class="yellowBg"><h5><span class="snippet-fa fa fa-cogs fa-lg" style="color: rgb(103, 7, 124);"> </span> <span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Theory of Knowledge (TOK)</span></span></h5><p style="text-align: center;"><em><strong>"Children should be seen and not heard"</strong></em></p><p>This 15th Century English proverb means that children are allowed to be present (seen) during a conversation or gathering, but should not be allowed to speak (not heard) unless they are spoken to first. It is about keeping quiet and having manners (regarded as good behaviour) when adults talk.</p><p>How can we know whether children should be seen and not heard? Who determines the meaning of "should"?</p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(61, 30, 128);"> </span> ATL Activity 1 (Research and Thinking skills) - Culture and international mindedness</span></span></h5><p>Often, when people in "Western cultures" talk about "Eastern cultures", the role of “saving face” is seen as a key difference between the two cultures. The importance is placed on not lowering one’s status, and not being embarrassed by failure.</p><p>1. Is the fear of “losing face” exclusively an Eastern trait? Does it ever appear in Western culture?</p><p>2. How could the need not to lose face affect an individual’s behaviour?</p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(61, 30, 128);"> </span> ATL Activity 2 (Thinking skills) - Are you an "I" or a "We"?</span></span></h5><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Watch this short video and consider whether you tend to fall into the category of individualism or collectivism.</p><p>What about your school? What evidence is there to back your answers?</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/CW7aWKXB5J4" title="YouTube video player" width="640"></iframe></p></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">3 Masculinity vs Femininity</span></span></strong></p></div></div><div class="panel-body"><p><strong>Masculinity vs femininity</strong> is Hofstede's third cultural dimension, focusing on stereotypical male and female traits and the roles they play in communities. In Hofstede's model, a masculine community exists when men are assertive and competitive while women are caring and nurturing.</p><p><strong>Masculinity </strong>refers to societies or cultures defined by a focus on achievement, competition, status, power, and wealth. Society is generally more competitive and driven by material rewards. Such cultures are highly competitive and may come across as overly aggressive by others.</p><p>On the other hand, <strong>femininity </strong>refers to societies or cultures that focus on cooperation, relationships, modesty, cooperation, and overall quality of life. Society is generally more consensus-oriented and driven by intrinsic rewards.</p><p><em>Table 2 - Features of masculinity and femininity (as a cultural dimension)</em></p><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="text-align: center; background-color: rgb(247, 190, 129);"><strong>Masculinity</strong></td><td style="text-align: center; background-color: rgb(247, 190, 129);"><strong>Femininity</strong></td></tr><tr><td style="text-align: center;"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Achievement, accomplishment, success</span></td><td>Caring for others</td></tr><tr><td>Assertiveness</td><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Consensual relationships</span></td></tr><tr><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Competitive</span></td><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Cooperation and negotiation</span></td></tr><tr><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Ego and heroism</span></td><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Modesty</span></td></tr><tr><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Material rewards and pride</span></td><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Responsibility for the quality of life</span></td></tr><tr><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Strong and domineering role</span></td><td><span style="font-size:11.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-bidi-font-family:
"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-ansi-language:EN-GB;
mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Subservient role</span></td></tr><tr><td>Live to work (have to work)</td><td>Work to live (want to work)</td></tr></tbody></table></div><hr class="hidden"><p>Recall that Hofstede's original research took place back in the 1960s and early 1970s, so times have certainly changed since. In the modern business context, Masculinity versus Femininity is sometimes also referred to as as “tough versus tender” cultures, as these are not necessarily gender-specific. Neither of these cultures are dominant in determining success. As stated by Jacinda Arden, New Zealand's Prime Minister, <i>“We’ve placed over time so much emphasis on notions of assertiveness and strength that we have assumed it means you can’t have those other qualities of kindness and empathy.”</i></p><p>According to <a href="https://www.hofstede-insights.com/fi/product/compare-countries/">Hofstede Insights</a>, femininity is extremely high in Nordic countries, like Denmark, Iceland, Norway, and Sweden. In contrast, masculinity is very high in Japan, Venezuela, and in some European countries like Austria, Hungary, and Switzerland.</p><p><img alt="" height="285" src="../../../ib/businessmanagement/images/2-hrm/leaders.jpg" width="380"></p><p><span style="color:#696969;"><em>World leaders of 2021</em></span></p></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">4 Uncertainty avoidance</span></span></strong></p></div></div><div class="panel-body"><p><img alt="" src="../../../ib/businessmanagement/images/tok/choice.jpg" style="width: 300px; height: 200px;"></p><p>The <strong>uncertainty avoidance</strong> cultural dimension of Hofstede's model refers to the rating or index of a society’s tolerance for ambiguity, i.e. whether the community is generally comfortable with uncertainty and ambiguity. It is about whether a society feels its should try to control the future or just let it happen. Essentially, uncertainty avoidance measures society’s tolerance for uncertainty or vagueness.</p><p>Countries with a high uncertainty avoidance index have a rigid code of beliefs and behaviour, so tend to be intolerant of unorthodox behaviour and ideas. Such societies are structured, traditional, and rigid in nature. There is a low tolerance for risk-taking due to the intolerance to uncertainty. <span class="ILfuVd" lang="en"><span class="hgKElc">i,e., society attempts to control as much of any uncertainty as possible. </span></span>According to <a href="https://www.hofstede-insights.com/fi/product/compare-countries/">Hofstede Insights</a>, this includes countries like Belgium, Colombia, France, Kuwait, Russia, and South Korea.</p><p>By contrast, a high degree of tolerance for ambiguity means there are less strict rules in society and a culture of openness to change. Countries exhibiting a low uncertainty avoidance index have a more relaxed attitude. Practice is more important than principles and policies. Titles do not have an important role, so individuals capable of dealing with challenging situations are respected. There is a high tolerance for risk-taking, ambiguity, and uncertainty. Such countries include China, Denmark, Sweden, and Vietnam.</p><p>As an example, if a car manufacturer wants to expand into a country that has a high uncertainty avoidance index (those that tend to be risk-adverse), then its production and marketing teams will need to focus on aspects of safety. This will help to reassure customers in these countries that the manufacturer's motor vehicles are of a high quality and safety standard.</p><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-cubes fa-lg" style="color: rgb(103, 7, 124);"> </span> Key concept - Creativity</span></span></h5><p>Does creativity have any role in a society with a high degree of uncertainty avoidance?</p></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">5 Long-term vs Short-term orientation</span></span></strong></p></div></div><div class="panel-body"><p><img alt="" src="../../../ib/businessmanagement/images/tok/time.jpg" style="width: 300px; height: 203px;"></p><p><strong>Long-term vs. short-term orientation</strong> is the cultural dimension that connects the past with attitudes towards the future. All<span class="hs_cos_wrapper hs_cos_wrapper_widget_container hs_cos_wrapper_type_widget_container" data-hs-cos-general-type="widget_container" data-hs-cos-type="widget_container" id="hs_cos_wrapper_module_13885046520011784" style=""><span class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_widget_1618225963637_" style=""> society maintain some links with their past in reference to dealing with the challenges of the present as well as the future. Different societies prioritize these two approaches in different ways.</span></span></p><p><strong>Short-term orientation</strong> means that cultures and traditions are kept. <span class="hs_cos_wrapper hs_cos_wrapper_widget_container hs_cos_wrapper_type_widget_container" data-hs-cos-general-type="widget_container" data-hs-cos-type="widget_container" id="hs_cos_wrapper_module_13885046520011784" style=""><span class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_widget_1618225963637_" style="">These societies have a low index for long-term vs short-term orientationon, indicating that they prefer to maintain time-honoured traditions and cultural norms. They focus on prioritizing the present instead of the future. Societal change is viewed with caution and suspicion.</span></span></p><p><span class="hs_cos_wrapper hs_cos_wrapper_widget_container hs_cos_wrapper_type_widget_container" data-hs-cos-general-type="widget_container" data-hs-cos-type="widget_container" style=""><span class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" style=""></span></span><strong>Long-term orientation</strong>, with a high index or score, refers to societies that have more of a focus on the future. These societies <span class="hs_cos_wrapper hs_cos_wrapper_widget_container hs_cos_wrapper_type_widget_container" data-hs-cos-general-type="widget_container" data-hs-cos-type="widget_container" id="hs_cos_wrapper_module_13885046520011784" style=""><span class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_widget_1618225963637_" style=""></span></span><span class="hs_cos_wrapper hs_cos_wrapper_widget_container hs_cos_wrapper_type_widget_container" data-hs-cos-general-type="widget_container" data-hs-cos-type="widget_container" id="hs_cos_wrapper_module_13885046520011784" style=""><span class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_widget_1618225963637_" style="">take a more pragmatic approach to prepare for the future. Loyalty is valued and traditions are kept and honoured. People are willing to tolerate short-term pain for long-term gain. They do not prioritize short-term successes but focus instead on accomplishing long-term success</span></span>. This relies on society's endurance and persistence to achieve long-term and sustainable growth and prosperity.</p><p>According to <a href="https://www.hofstede-insights.com/fi/product/compare-countries/">Hofstede Insights</a>, high long-term orientation scores are typically found in East Asia, in economies like China, Japan, South Korea, and Taiwan. Germany, Lithuania, and Russia also has a high long-term orientation index. They are moderate in Brazil, Croatia, and India. They are low (with countries focusing on the short-term) in places like Angola, Australia, Iceland, Iran, Mexico, and Thailand.</p><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-exchange fa-lg" style="color: rgb(103, 7, 124);"> </span> Key concept - Change</span></span></h5><p>Discuss the extent to which the pace of change in society impacts long-term versus short-term orientation.</p></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">6 Indulgence vs Restraint</span></span></strong></p></div></div><div class="panel-body"><p><img alt="" src="../../../ib/businessmanagement/images/bmt/stop.jpg" style="width: 300px; height: 198px;"></p><p>An <strong>indulgent culture</strong> refers to a society or organization that fosters the natural human drive to be free, to have fun, and to generally enjoy life. By contrast, a <strong>restraining culture</strong> means there is a tendency for society to suppress people's personal needs and desires by a system of strict social norms and self-regulation. As this sixth element of the model was only included by Hofstede in 2010,there are less data about the indulgence vs restraint cultural dimension of different nations.</p><p>Countries with a high indulgence versus restraint index (so have an indulgent culture) facilitate the free fulfilment of an individual’s desires or wants. These societies encourage having fun, enjoying life, and freedom of speech. Such countries include Australia, Canada, New Zealand, Sweden, the United Kingdom, and the United States.</p><p>Countries with a moderate indulgence versus restraint index include Finland, France, Greece, Japan, Luxembourg, Malaysia, Norway, the Philippines, Singapore, and Thailand. Societies with a low indulgence versus restraint index (so have a restraining culture) tend to put their onus on suppressing gratification (the pleasurable emotional reaction of happiness in response to the fulfilment of a desire or goal). Success is not widely and openly acknowledged or celebrated. Such economies include Bangladesh, Bulgaria, China, Estonia, Hong Kong, Kazakhstan, Romania, and Russia.</p></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FFFFFF;">Evaluating Hofstede’s cultural dimensions model</span></span></strong></p></div></div><div class="panel-body"><p>Like any model, there are both advantages and disadvantages of using Hofstede’s six cultural dimensions as a Business Management tool.</p><h5><span style="font-family:arial,helvetica,sans-serif;">Advantages of of Hofstede’s six cultural dimensions</span></h5><ul class="branded"><li><p>The tool provides managers with an overall view and a broad understanding of different cultures. This can be extremely useful for cross-cultural communications and international cooperation with customers, suppliers, and governments.</p></li><li><p>Managers of multinational companies can use the tool to improve the motivation of employees and to minimize potential conflicts. It will help improve the performance and productivity of worker, which benefits the business organization, its employees, and shareholders (thereby protecting shareholder value).</p></li><li><p>It is valuable for international marketing as managers need to consider country-specific values and not just internal corporate values.</p></li><li><p>It enables businesses to modify their goods and services based on local preferences and customs, thereby giving the business competitive advantages in highly competitive international markets.</p></li></ul><h5><span style="font-family:arial,helvetica,sans-serif;">Limitations of Hofstede’s six cultural dimensions</span></h5><ul class="branded"><li><p>The original research methodology was limited to only employees and managers of IBM. Therefore, critics argue that Hofstede’s cultural dimensions are based on unrepresentative and inconclusive research, despite the research being extensive in data.</p></li><li><p>The world has changed in terms of political movements and cultural shifts. Globalization and the international movement of labour has also blurred some cultural dimensions for multinational corporations, such as individualism vs collectivism.</p></li><li><p>It is not realistic for managers of multinational companies with expatriate workers from across the world to cater for everyone's needs. There is no universal approach to all cultural dimensions for all expatriate workers. Hence, businesses might find it impractical to consider every unique culture in the workplace and develop appropriate strategies for integrating them all in the organization.</p></li><li><p>Technology has progressed, which has revolutionized the way people access information and changed the way they think. In particular, technological advances have enabled people to change the way they work, shifting the patterns of behaviour worldwide, such as flex-time, working from home, and the gig economy. Hofstede's research back in the 1960s and 1970s could not have accounted for such changes and developments.</p></li></ul></div><div class="panel-footer"><div></div></div></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 3 (Research and Thinking skills)</span></span></h5><p>Use the <a href="https://www.hofstede-insights.com/fi/product/compare-countries/">Hofstede Insight</a> website to discover the six cultural dimension for the country you reside in as well up to three other countries of your choice/interest.</p><p>Are there any surprises and what might be the reasons behind these numbers?</p></div><div class="yellowBg"><h5><span class="snippet-fa fa fa-cogs fa-lg" style="color: rgb(103, 7, 124);"> </span> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Culture and Theory of Knowledge (TOK)</span></span></h5><ul class="branded"><li><p>To what extent should culture drive business decision-making?</p></li><li><p>What role does change have on organizational culture?</p></li><li><p>To what extent might globalization be a threat to national and regional cultures, and does this really matter?</p></li><li><p>Given different cultural perspectives, are there any justifications for universal standards of ethical business behaviour?</p></li><li><p>Is there any aspect of business management for which culture does not have much or any significance?</p></li><li><p>Is a culture of change always beneficial to organizations? </p></li></ul></div><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 4 (Thinking skills) - French food culture & TOK</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Most people would associate the French with food and drinks such as cheese, Champagne, croissants, French toast and perhaps French fries.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Whilst the French consume more cheese than any other one nation does, perception is not always reality. What do you think are the answers to the following questions?</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><em>1. What is Champagne?</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Many people associate Champagne being a bubbly white wine. This is not entirely incorrect, but for a sparkling wine to be called Champagne, it must come from that specific region of France - called Champagne, in the northeast of France. Hence, there is technically no such thing as Champagne that comes from other wine producer nations such as Spain, Italy, New Zealand, Australia or China.</span></span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><em>2. In which country did croissants originate from?</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Again, many people associate the croissant with French culture and French cuisine, although the buttery and flaky pastry originates from Austria. The name comes from the infamous crescent shape of the pastry.</span></span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><em>3. Did the French invent the French toast?</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Historians claim that the dish we now know as French toast existed as early as the Roman Empire in the early 5th century AD. However, the man credited for inventing the modern-day French toast that we eat today is Joseph French, an entrepreneur from Albany, New York, back in 1724.</span></span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><em>4. Were French fries invented in France?</em></span></p><p><em><img alt="" src="../../../ib/businessmanagement/images/french-fries.jpg" style="width: 300px; height: 141px;"></em></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">No, they were created in neighbouring country Belgium. Historical records suggest that French fries were first made in Namur, Belgium, where the locals were particularly fond of fried fish. However, in 1680, when the River Meuse (which rises in France and flows through Belgium and the Netherlands) froze over so people fried potatoes instead of the small fish they were used to. </span></span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">5. And finally, where does the word "France" originate from?</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The answer is not France itself. Interestingly, the name France is technically not French. The word "France" comes from a Germanic tribe word "Frank", which means "free".</span></span></p></section></div><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 5 (Thinking skills) - What does Hofstede tell us about Chinese culture?</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/countries/china.jpg" style="width: 360px; height: 202px;"></p><p>Read this short <a href="https://www.marketmechina.com/geert-hofstede-tells-us-chinese-business-culture/">article</a>, from MarketMeChina.com, about what Hofstede's cultural dimensions reveals Chinese culture. The article covers five of the cultural dimensions: Power distance, Individualism/Collectivism, Masculinity/Femininity, Uncertainty avoidance, and Long-term/Short-term orientation.</p><p>To see the latest indices for China, covering all six of Hofstede's cultural dimensions, click the link <a href="https://www.hofstede-insights.com/fi/country/china/">here</a> to access the Hofstede Insights webpage.</p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 6 (Research Skills) - Culture and Research & Development (R&D)</span></span></h5><p>In the context of an organization of your choice, discuss how <strong>culture </strong>influences R&D practices. Be prepared to explain your findings to the class.</p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;">Teachers' Notes:</span></p><p><span style="color:#FF0000;">Innovative organizations such as Apple, Google, and 3M have an open and inclusive culture that encourages creativity and risk taking. By contrast, some organizations have a culture of leaving R&D to a team of experts. For example, McDonald’s R&D team is responsible for product development, so other employees have no input in this process.</span></p><p><span style="color:#FF0000;">In risk-adverse cultures, managers can be put off by the threat of failure, leading to financial losses and reduced staff morale. R&D expenditure can also be ignored, limited, or postponed in some organizations due to budgetary constraints.</span></p><p><span style="color:#FF0000;">Organizational culture can also be largely affected by national cultures - some countries are known for devoting a significant proportion of their resources to R&D and innovation, e.g., South Korea, USA, Japan, Sweden and the Netherlands.</span></p><p><span style="color:#FF0000;">In completing this task, it would be beneficial to ask students to also refer to the theories in</span><span style="color:#FF0000;"> <a href="../44390/25-organizational-corporate-culture-hl.html" title="Unit 2 - HRM » 2.5 Organizational (corporate) culture (HL)">Unit 2.5</a> Organizational (corporate) culture (HL only)</span>.</p></div></section></div><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> <span style="color:#FF0000;">Case Study 2 - HSBC</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">HSBC is (still) renowned for its slogan <em>"The World’s Local Bank</em>". It has also used some outstanding television adverts to back this claim, which helps to highlight the importance of understanding culture when conducting business in other countries. Some examples are provided in the video clips below:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Driving etiquette in Germany and France: Watch this brilliant HSBC advert about the differences between German and French drivers.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/v1vvLQd53Ps" width="640"></iframe></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The subtle advert shows a German man carefully driving his Mercedes Benz (German made), whilst the French driver is more casual about things driving his Peugeot (French made).</span></span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Eating etiquette in China and England: This video, also from HSBC, shows the importance of understanding business etiquette from a cultural perspective. It features a group of Chinese businessmen having dinner with an English client:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/6_WAmt3cMdk" width="640"></iframe></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Finally, take a look at HSBC’s first advert as the bank launched it’s <em>The World’s Local Bank </em>marketing campaign in 2002:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/JK_NinOmFWw" width="640"></iframe></span></p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 7 (Research skills) - Investigating international business etiquette</span></span><span style="font-family:arial,helvetica,sans-serif;"></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Etiquette</strong> refers to the protocol of acceptable behaviour in which business is conducted. It entails what society or an organization would deem to be good manners or polite behaviour. </span>Investigate the importance of business etiquette for international marketers for a country of your choice.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">For example, in China:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">It is not wise to give your boss a green hat</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It could be worse to give him/her a clock as a gift</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Should you unwrap a gift in front of the person giving it to you?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Do you shake someone’s hand before a business meeting?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Why is the number 4 so unlucky?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Is it acceptable to be late for a business meeting?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Is it acceptable to use red ink in communications?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Why must you not place your chopsticks upright in your bowl at a dinner function?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The Chinese don’t have an actual word that translates as “Hello” – so what should you say instead?</span></p></li></ul><div class="row-fluid"><div class="span6"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/green-hat.png" style="width: 200px; height: 168px;"></span></p></div><div class="span6"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="171" src="../../../ib/businessmanagement/images/four.png" width="138"></span></p></div></div><p><span style="font-family:arial,helvetica,sans-serif;">You should aim to include application (relevance) of your findings to the real business world.</span></p><p>As an extension task, read this excellent <a href="http://www.forbes.com/sites/robasghar/2014/04/22/27-etiquette-rules-for-our-times/#40baa23b3dc3">Forbes article</a>, titled :“27 Etiquette Rules For Our Times”.</p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Suggestion</strong></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Get students to present their findings in class and/or as posters for a classroom displays!</span></span></p><hr class="hidden"><p><span style="color:#FF0000;"><strong>Teachers' notes -<span style="font-family:arial,helvetica,sans-serif;"> Culture and business etiquette</span></strong></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Some examples are provided below:</span></span></p><ul class="branded"><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In Chinese culture, it is not wise to give clocks as a gift, as this signifies the recipient going into their after-life!</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Similarly, you should not give a male Chinese colleague (especially your line manager) a green hat as a gift, as this suggests his wife is being unfaithful! St. Patrick’s Day would be rather interesting in China then!</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In some Western cultures, the number 13 is unlucky. The number 4 is associated with death in Chinese and Japanese cultures. Hence, many commercial buildings such as hotels do not have a 13th or 4th floor (even though these physically exist, of course!)</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In Japanese culture, gift wrapping is an art in itself. However, the colour white should be avoided for gift wrapping as this is symbolic of death!</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In many cultures, it is the norm to firmly shake hands when greeting clients or colleagues. In other cultures, physical contact is best avoided.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">It is common for Indians to greet you with a light slap on the shoulder. Women, however, may prefer the traditional Indian greeting of Namaste – which involves the joining of the palms, bringing them to the chest and then a slight bow of the head.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Indian people are remarkably flexible with their timing, whereas the Japanese and Germans frown upon lateness to meetings.</span></span></p></li><li><p><span style="color:#FF0000;">In Thailand, it is illegal to step on money.</span></p></li><li><p><span style="color:#FF0000;">In Norway, all diners are expected to use cutlery, even if this means eating a sandwich with a knife and fork.</span></p></li><li><p><span style="color:#FF0000;">In Russia, it is not a good idea to give someone yellow flowers, as this signifies infidelity or the end of a relationship.</span></p></li><li><p><span style="color:#FF0000;">The Japanese like to slurp soup and noodles, to indicate they are enjoying their food.</span></p></li><li><p><span style="color:#FF0000;">In Sri Lanka, it is regarded as rude to eat with your left hand.</span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In Chinese, Japanese and Indian cultures, do not insist on the host opening your gift as this is considered to be rude. Instead, gifts should be opened in private because this prevents any embarrassment for both parties.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Hindus typically follow a strict vegetarian diet, so business associates should be prepared for this (beef in particular is against their religion as cattle are considered to be sacred animals). Muslim clients do not eat pork (as pigs are considered to be unclean animals).</span></span></p></li></ul><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/flowers.jpg" style="width: 280px; height: 131px;"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>White flowers are often reserved for funerals in some cultures</em></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">A lack of awareness of and insensitivity to cultural differences in business etiquette can cause offence and harm business negotiations.</span></span></p></div></section></div><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Video for review</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">This video provides an introduction to corporate culture at Airbnb, the recruitment process, and how employee hierarchy is established. There is also reference to motivation theories, linking culture with contents from <a href="../43829/24-motivation-and-demotivation.html" title="New syllabus 2022 » Unit 2 - Human resource management » 2.4 Motivation and demotivation">Unit 2</a> of the Business Management syllabus:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/KB2RVkTrvog" width="640"></iframe></span></p></div><div class="yellowBg"><h5 id="header-13"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 8 (Research and Self-management skills) - Hofstede's cultural dimensions in action</span></span> <small class="toc-back-button"> <a class="scroll-to" data-target="toc-1635864464" href="https://www.thinkib.net/#" title="Back to table of contents"> </a> </small></h5><p>This activity has been suggested by <strong>Catherine Brandt</strong></p><p>Professor Geert Hofstede was a famous social psychologist who proposed that there are different "Cultural Dimensions" within organizations and countries. Hofstede argued that understanding the different dimensions of culture will help facilitate better understanding and communication between cultures. This is important for both international diplomacy and international business.</p><ul class="branded"><li><p>Investigate how cultures differ in <strong>two </strong>different countries of your choice. Spend 10 minutes investigating. Information about the cultural dimensions in different countries can be found <a href="https://www.hofstede-insights.com/product/compare-countries/">here</a>.</p></li><li><p>Take a look at the three questions below and respond based on your understanding of Hofstede’s cultural dimensions.</p></li></ul><ol class="branded"><li><p>You are a cultural psychologist who works for a large multinational company in Denmark. One of your colleagues has never travelled outside of his country but is about to move to South Korea for a promoted post in the company. In South Korea, he will be working as the senior manager of his division. What advice can you give him based on what we know about the dimensions of South Korean culture?</p></li><li><p>Max is Russian. He is coming to you as he and his colleague, who is from Thailand, are having difficulties working together. You wonder if there could be a cultural basis to their difficulties. What questions might you ask them based on what you know about their respective cultures (you will need to do some research on the cultural differences in Russia and Thailand).</p></li><li><p>An experienced Czech businesswoman has been offered the opportunity to work with one of three international businesses located in the centre of Prague. She is undecided about whether to accept the job offers from the American, French, or Russian companies. Based on her national cultural background, which business environment do you suggest that she would most easily adjust to? Be able to justify your recommendation. </p></li></ol></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"> Additional resources</span></span></h5><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../22131/investigating-culture-and-business-etiquette.html" title="CUEGIS » The 6 CUEGIS concepts » Culture » Investigating culture and business etiquette">Investigating culture and business etiquette</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="http://www.businessinsider.com/9-unusual-items-banned-around-the-world-2015-10">9 surprising items banned around the world</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.bizjournals.com/bizjournals/how-to/human-resources/2016/08/why-business-culture-is-important.html">The Business Journals</a> – Why culture is important to businesses</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.forbes.com/sites/larryalton/2017/02/17/why-corporate-culture-is-becoming-even-more-important/#cc1e7d369dac">Forbes magazine</a> – Why corporate culture becoming ever more important, and the benefits of a strong corporate culture</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.forbes.com/sites/larryalton/2017/02/17/why-corporate-culture-is-becoming-even-more-important/#cc1e7d369dac">LinkedIn</a> – Why company culture is so important to business success</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.talk-business.co.uk/2018/04/24/what-is-company-culture-and-why-is-it-important/">Talk Business</a> – The importance of company culture and how to build a strong culture</span></p></li></ul></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-globe fa-lg" style="color: rgb(61, 30, 128);"> </span> Culture and International Mindedness</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/locations/rome.jpg" style="width: 280px; height: 187px;"></p><p><span style="color:#696969;"><em>Culture: When in Rome, do as the Romans do</em></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Culture and international mindedness as part of an IB education go hand-in-hand. Culture is integral to international mindedness (IM). Not only is IM integral to the philosophy of all IB World Schools, it is increasingly important in the corporate world. The IB’s definition of international mindedness is:</span></p><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;"><em>International mindedness is an attitude of openness to, and curiosity about, the world and different cultures. It is concerned with developing a deep understanding of the complexity, diversity and motives that underpin human actions and interactions.</em></span></p><span style="font-family:arial,helvetica,sans-serif;">Examples of content from the IB Business Management syllabus that allows for the exploration of culture are outlined in the box below (click on tab heading below).</span></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Using Hofstede's cultural dimensions as part of the BMT in the syllabus</strong></p></div></div><div class="panel-body"><div><p>As part of the Business Management Toolkit, Hofstede's cultural dimensions can be referred to in the following sections of the syllabus. The list is for illustrative purposes only and not intended to be prescriptive or exhaustive.</p><ul class="branded"><li><p>Unit 1.1 - How might cultural dimensions influence the extent of entrepreneurship in a particular country?</p></li><li><p>Unit 1.2 - How might cultural dimensions affect a company’s vision and mission?</p></li><li><p>Unit 1.3 - Discuss how cultural dimensions can affect an organization's vision, mission, and/or objectives.</p></li><li><p>Unit 1.3 - With reference to Hofstede's cultural dimensions, discuss whether long-term or short-term orientation is more important for protecting shareholder value.</p></li><li><p>Unit 1.5 - What is the significance of cultural dimensions for international mergers and acquisitions (M&As)?</p></li><li><p>Unit 1.5 - Is an understanding of Hofstede's cultural differences crucial for the success of a business expanding into new countries?</p></li><li><p>Unit 1.6 - How might cultural dimensions be of significance for multinational companies and their operations in overseas markets?</p></li><li><p>Unit 2.1 - Discuss how knowledge of Hofstede's cultural dimensions supports human resource planning with reference to immigration and flexitime.</p></li><li><p>Unit 2.1 - To what extent do cultural dimension influence the degree of resistance to change in the workplace?</p></li><li><p>Unit 2.3 - How might knowledge of cultural dimensions help to improve the effectiveness of leadership and management in business organizations?</p></li><li><p>Unit 2.4 - How might cultural dimensions determine our understanding or interpretation of motivation and demotivation of a multicultural workforce?</p></li><li><p>Unit 2.4 - Discuss how cultural dimensions can influence the effectiveness of methods of financial and non-financial motivation.</p></li><li><p>Unit 2.4 - Discuss how knowledge of Hofstede's cultural dimensions can help managers to gain a better understanding of motivation in theory and practice.</p></li><li><p>Unit 2.5 - Discuss the extent to which cultural dimensions determine organizational culture.</p></li><li><p>Unit 2.6 - How might cultural dimensions affect communications within and between organizations?</p></li><li><p>Unit 2.7 (HL only) - Discuss how culture impacts approaches to conflict resolution in the workplace.</p></li><li><p>Unit 3.8 - How do cultural dimensions impact investment appraisal decisions?</p></li><li><p>Unit 3.9 - What is the significance of organizational and national cultural norms in the setting of budgets?</p></li><li><p>Unit 4.1 - How might cultural dimensions affect an organization's choice of marketing strategy?</p></li><li><p>Unit 4.5 - How do businesses adapt their marketing strategies to different cultures?</p></li><li><p>Unit 4.6 (HL only) - Discuss the importance of cultural dimensions for international marketers.</p></li><li><p>Unit 5.3 (HL only) - What is the significance of culture for lean production and quality management?</p></li><li><p>Unit 5.4 - Discuss how managers might use Hofstede's cultural dimensions to help make offshoring and outsourcing decisions.</p></li><li><p>Unit 5.6 (HL only) - Discuss how cultural dimensions can affect both creativity and innovation in the workplace.</p></li><li><p>Unit 5.7 (HL only) - Does Hofstede's cultural dimensions have any purpose or relevance to contingency planning?</p></li></ul><section class="tib-hiddenbox"><p>For example, industrial relations depend very much on the dominant leadership and management styles within an organization, which in turn is dependent on the organizational culture. For example, managers who have low concern for people and only focus on completing tasks tend to cultivate poor employer-employee relations.</p><p>In some cultures, managers believe that creating fear is the best way to keep employees working and not to slack off. By contrast, other cultures foster a culture of trust and empowerment. They develop a culture that values the importance of consultation in the decision-making process. They value the contributions that workers can make to devise more informed strategic judgments.</p><p>An example is Julian Richer, the founder of Richer Sounds in the UK. Richer believes it is vital that his staff have fun, are able to contribute ideas, enjoy their work and feel valued. This will have a positive impact on employer-employee relations, which ultimately leads to improved performance in the workplace.</p><p>It is also important for managers to be aware of international cultural differences when trying to deal with conflict at work. For example, American and European companies are used to dealing with confrontational issues, whereas the Japanese and Indians find outright confrontation a barrier to negotiations.</p></section><hr class="hidden"><p>You may find this poster useful as a revision tool or classroom poster display. It has been created by <strong>Ziya Rajinikant Ghodasara </strong>who studies at Chinmaya International Residential School, India. Many thanks for Ziya and her teacher <strong>Rashmi Unnikrishnan</strong> for sharing this with the InThinking community!</p><div readonly="true" style="background: #ddd; margin: 20px 0; width: 100%;"><iframe frameborder="0" scrolling="no" src="../../../media/ib/businessmanagement/files/bmt/hofstede-s-cultural-dimension-poster.pdf.html" style="width: 100%; height: 480px;"></iframe></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Key terms</strong></p></div></div><div class="panel-body"><div><ul class="branded"><li><p><strong>Collectivism </strong>emphasises the importance of the group and social cooperation over the needs of any individual.</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Culture </strong>can be described as a way of doing things or how things are done within an organization, community, or country. It impacts on all aspects of business organizations.</span></p></li><li><p><strong>Cultural dimensions</strong> is the name of Geert H. Hofstede's model of the continuum of values onto which groups of different cultures can generally be classified, based on broad patterns of differences between cultures, rather than individual differences.</p></li><li><p><strong>Cultural norms</strong> are the <span class="ILfuVd"><span class="hgKElc">shared expectations, values, and rules of a group or society that guide how people behave.</span></span></p></li><li><p><strong>Femininity </strong>refers to societies or cultures that focus on cooperation, relationships, modesty, cooperation, and overall quality of life.</p></li><li><p><strong>Individualism </strong>refers to cultures that emphasise the needs of the individual over the needs of the group as a whole.</p></li><li><p><strong>Individualism vs Collectivism</strong> is the cultural dimension that considers the degree to which people are integrated into groups in society.</p></li><li><p>An <strong>indulgent culture</strong> refers to a society or organization that fosters the natural human drive to be free, to have fun, and to generally enjoy life.</p></li><li><p><strong>Long-term orientation</strong> refers to societies that have more of a focus on the future.</p></li><li><p><strong>Long-term vs. short-term orientation</strong> is the cultural dimension that connects the past with attitudes towards the future.</p></li><li><p><strong>Masculinity </strong>refers to societies or cultures defined by a focus on achievement, competition, status, power, and wealth.</p></li><li><p><strong>Masculinity vs femininity</strong> is the cultural dimension that focuses on stereotypical or typical male and female traits.</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Organizational culture</strong> (or <strong>corporate culture</strong>) refers to established institutional knowledge and code of practice which guide behaviour and attitudes in the organization. It has a profound influence on business decision-making and the way employees and managers conduct themselves in the workplace.</span></p></li><li><p><strong>Power distance</strong> refers to the extent to which a culture respects authority and status.</p></li><li><p>A <strong>restraining culture</strong> means there is a tendency for society to suppress people's personal needs and desires by a system of strict social norms and self-regulation.</p></li><li><p><strong>Short-term orientation</strong> means that cultures and traditions are kept.</p></li><li><p><strong>Uncertainty avoidance </strong>is the cultural dimension that refers to the rating or index of a society’s tolerance for ambiguity and openness to change.</p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><strong><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a></strong><div><p><strong>Hofstede's cultural dimensions - Revision Flashcards</strong></p></div></div><div class="panel-body"><div><p><img alt="" src="../../../ib/businessmanagement/flashcards-1.jpg" style="width: 300px; height: 152px;"></p><p>To test your understanding of this topic, have a go at the following Flashcard revision tasks. There are 10 flashcards in this quiz - how many can you get right?</p><div class="tib-flashcard"><button class="show-flashcards btn bg-green btn-large btn-block " data-levels="88,89,90" data-topics="1796" data-general-id="42" data-n-flashcards="10" style="text-align:center">Show flashcards</button></div><hr></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><div><p><strong>Hofstede's cultural dimensions - Multiple Choice Questions Quiz</strong></p></div></div><div class="panel-body"><div><p><img alt="" src="../../../igcse/economics/exams/mcq-1.jpg" style="width: 300px; height: 278px;"></p><p>To test your understanding of this tool (Hofstede's cultural dimensions), have a go at the following multiple choice questions. To support your revision, a brief explanation is provided for the answer.</p><div class="tib-quiz" data-quiz-id="4066" data-structure="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" data-score-answers="6d4a526a457a48584f763758344a7649472f76324c53614b78524c393439595570496d5a5971374b38686f3d"><div class="exercise"><div class="q-question"><p>Which of the following dimension of Hofstede's model relates to the degree to which people in a community feel threatened by variability and ambiguity?</p></div><div class="q-answer"><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p><p><label class="radio" data-answer="9aa651c40a78312e7a7c735660db4535"><input type="radio"><span> Masculinity</span></label></p><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p></div><div class="q-explanation"><p>Uncertainty avoidance is the cultural dimension that refers to the degree to which people in a community or culture feel threatened by variability (uncertainty) and ambiguity.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which cultural dimension in Hofstede's model refers to the extent to which people in a culture accept that decision making authority is distributed unequally?</p></div><div class="q-answer"><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p><p><label class="radio" data-answer="9aa651c40a78312e7a7c735660db4535"><input type="radio"><span> Masculinity</span></label></p></div><div class="q-explanation"><p>Power distance is the dimension that refers to the extent to which people in a community or culture accept that power, such as decision making authority, is distributed unequally.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which cultural dimension in Hofstede's model relates to the degree of assertiveness and competitiveness that is considered appropriate in a culture?</p></div><div class="q-answer"><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p><p><label class="radio" data-answer="9aa651c40a78312e7a7c735660db4535"><input type="radio"><span> Masculinity</span></label></p></div><div class="q-explanation"><p>Masculinity (rather than Femininity) is the cultural dimension that relates to the degree of assertiveness and competitiveness that is considered appropriate some cultures.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of Hofstede's cultural dimensions refers to the degree of interdependence a society maintains amongst its members?</p></div><div class="q-answer"><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p><p><label class="radio" data-answer="9aa651c40a78312e7a7c735660db4535"><input type="radio"><span> Masculinity</span></label></p><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p></div><div class="q-explanation"><p>Individualism (rather Collectivism) refers to the degree of interdependence a society maintains amongst its members.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which statement below does not apply to Hofstede's cultural dimensions?</p></div><div class="q-answer"><p><label class="radio" data-answer="9a27d6a450d2e55f39c095c24fd309af"><input type="radio"><span> It is a framework used to measure the effects of a society's culture on its members and their values</span></label></p><p><label class="radio" data-answer="ec33dd156df3045053744d7b04e9c60a"><input type="radio"><span> Power distance measures the extent to which people prioritize their own interests vs the interests of the group</span></label></p><p><label class="radio" data-answer="4b69e7d946f2f288e9fdcf593eba13cd"><input type="radio"><span> It can be used to assess the effects of culture on business management practices, thereby informing decision making</span></label></p><p><label class="radio" data-answer="28ceb8869c1ac205828c6418063d5cc9"><input type="radio"><span> Uncertainty avoidance measures the extent to which people prefer structured environments</span></label></p></div><div class="q-explanation"><p>Individualism vs Collectivism is Hofstede's cultural dimension that measures the extent to which people prioritize their own interests versus the interests of the group or society as a whole.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of Hofstede' cultural dimensions refers to the extent to which people in society accept that not all members are the same and so should have the opportunity to express their views and differences?</p></div><div class="q-answer"><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p><p><label class="radio" data-answer="9aa651c40a78312e7a7c735660db4535"><input type="radio"><span> Masculinity</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p></div><div class="q-explanation"><p>Individualism (rather than Collectivism) refers to the extent to which people in a culture accept the fact that people are different and that they should have opportunities to express their differences in opinion and outlook.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of Hofstede's cultural dimensions refers to the extent to which less influential members accept and expect that decision making is distributed unequally?</p></div><div class="q-answer"><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p><p><label class="radio" data-answer="9aa651c40a78312e7a7c735660db4535"><input type="radio"><span> Masculinity</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p></div><div class="q-explanation"><p>Power distance is Hofstede's cultural dimension that examines the degree to which less influential or powerful members of society (or an organization) accept and expect that decision making power is distributed unequally.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of Hofstede's cultural dimensions measures the extent to which people in a society prioritize their future goals over immediate gratification?</p></div><div class="q-answer"><p><label class="radio" data-answer="047b2ddac13fb3179fd70a8b55ba77f6"><input type="radio"><span> Long-term orientation</span></label></p><p><label class="radio" data-answer="a09c59279f65b6e1fb347cd6defe7944"><input type="radio"><span> Uncertainty avoidance</span></label></p><p><label class="radio" data-answer="90f5a3622fabbc6ba804118bf9230057"><input type="radio"><span> Individualism vs Collectivism</span></label></p><p><label class="radio" data-answer="8b18871aa2a02fd21c1255625c12013c"><input type="radio"><span> Indulgence versus Restraint</span></label></p></div><div class="q-explanation"><p>Long-term orientation (rather than short-term orientation) refers to the extent to which people in society prioritize long-term goals over any short-term rewards or gratification.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>What component of Hofstede's cultural dimensions examines the extent to which people in a society focus on their future goals, rewards, and accomplishments?</p></div><div class="q-answer"><p><label class="radio" data-answer="263518400480cc6fbc848076d36c4ff5"><input type="radio"><span> Indulgence</span></label></p><p><label class="radio" data-answer="047b2ddac13fb3179fd70a8b55ba77f6"><input type="radio"><span> Long-term orientation</span></label></p><p><label class="radio" data-answer="e211972d94a155505564f7e8a41a2c55"><input type="radio"><span> Power distance</span></label></p><p><label class="radio" data-answer="407e5d4eba2f94ad6380c080c9e0b1ac"><input type="radio"><span> Restraint</span></label></p></div><div class="q-explanation"><p>Long-term orientation refers to the degree to which people focus on their long-term goals rather than short-term rewards or gratification.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which component of Hofstede's cultural dimensions examines the degree to which people in a society are concerned with their own interests, rights, and goals?</p></div><div class="q-answer"><p><label class="radio" data-answer="12888f3d13ef88efc5aa8ff31c19d5b6"><input type="radio"><span> Collectivism</span></label></p><p><label class="radio" data-answer="cc36ca2a1ec4f74d91f5b0bd9212fa8b"><input type="radio"><span> Individualism</span></label></p><p><label class="radio" data-answer="047b2ddac13fb3179fd70a8b55ba77f6"><input type="radio"><span> Long-term orientation</span></label></p><p><label class="radio" data-answer="39e5008c769d536d5a934454b0b993f6"><input type="radio"><span> Short-term orientation</span></label></p></div><div class="q-explanation"><p>Individualism (rather than collectivisim) is Hosftede's cultural dimension that examines the extent to which people are concerned with their own interests, rights, and personal goals (rather than those of the group or society as a whole).</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="totals"><span class="score">Total Score: </span><button class="btn btn-success check-total"><i class="fa fa-check-square-o"></i> Check</button></div></div><hr></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Hofstede's cultural dimensions - Exam Practice Question</strong></p></div></div><div class="panel-body"><div><table border="0" cellpadding="0" cellspacing="0" width="768"><tbody><tr height="19"><td height="19" style="height:14.5pt;width:18pt" width="23">(a)</td><td style="width:504pt" width="671">Outline the meaning of Hofstede’s cultural dimensions.</td><td class="xl65" style="width:56pt" width="74"><em>[2 marks]</em></td></tr><tr height="19"><td height="19" style="height:14.5pt">(b)</td><td>Explain <strong>two</strong><strong> </strong>benefits for multinational companies that use Hofstede’s cultural dimensions as a situation tool.</td><td class="xl65"><em>[4 marks]</em></td></tr><tr height="19"><td height="19" style="height:14.5pt">(c)</td><td>Explain <strong>two</strong><strong> </strong>limitations for multinational companies that use Hofstede’s cultural dimensions as a situation tool.</td><td class="xl65"><em>[4 marks]</em></td></tr></tbody></table><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Answers</strong></span></p><p><strong>(a) Outline the meaning of <em>Hofstede’s cultural dimensions</em>. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">This situational tool helps managers to understanding the cultural similarities and differences that exist between and across different countries based on any one of six different cultural dimensions: (i) power distance, (ii) individualism vs collectivism, (iii) masculinity vs femininity, (iv) uncertainty avoidance, (v) long-term vs short-term orientation, and (vi) indulgence vs restraint. The tool can help businesses to overcome the cultural and geographical differences that lead to ineffective communication and misunderstandings between people from different nations and cultures.</span></p><p><span style="color:#FF0000;">Award<em> [1 mark] </em>for a response that shows some understanding of the tool.</span></p><p><span style="color:#FF0000;">Award<em> [2 marks] </em>for a <span style="color:#FF0000;">response </span>that shows good understanding of the tool, similar to the example above.</span></p><p><span style="color:#FF0000;"><strong><em>Note</em></strong>: for exam questions like this, there is no need to outline/include/name all elements of the tool - this has been included above for illustrative purposes only.</span></p><hr class="hidden"><p><strong>(b) Explain <u>two</u> benefits for multinational companies that use Hofstede’s cultural dimensions as a situation tool. <em>[4 marks]</em></strong></p><p><span style="color:#FF0000;">Possible benefits could include an explanation of:</span></p><p><span style="color:#FF0000;"></span></p><ul class="branded"><li><p><span style="color:#FF0000;">Cultural norms play an important role in interpersonal relationships in the workplace and these vary from country to country. Managers of MNCs need to consider the <span style="color:#FF0000;">feelings, </span>reactions, <span style="color:#FF0000;">and </span> preferences of employees based on society’s cultural norms. This will help to improve morale and motivation, and hence positively impact on labour productivity and employee loyalty.</span></p></li><li><p><span style="color:#FF0000;">The tool can help MNCs to gain <span style="color:#FF0000;">insight to how customers in a particular community might think and react to the firm's products, its services, and its marketing.</span> Understanding varying cultural dimensions can therefore improve the efficiency of the MNC and improve its cash flow and budgeting.</span></p></li><li><p><span style="color:#FF0000;">Using Hofstede’s cultural dimensions model makes the unknowns of expanding and operating overseas less intimidating for the MNC. Hence, this can help managers to avoid costly mistakes, prevent embarrassment of offending others and their cultures, and give workers and managers a huge confidence boost when working in unfamiliar countries.</span></p></li><li><p><span style="color:#FF0000;"><em>Accept any other valid advantage that is clearly explained.</em></span></p></li></ul><p><span style="color:#FF0000;"></span></p><p><span style="color:#FF0000;"><em>Mark as a 2 + 2</em></span></p><p><span style="color:#FF0000;">For each point, award <em>[1 mark] </em>for a valid benefit and a further <em>[1 mark] </em>for an accurate explanation.</span></p><hr class="hidden"><p><strong>(c) Explain <u>two</u> limitations for multinational companies that use Hofstede’s cultural dimensions as a situation tool. <em>[4 marks]</em></strong></p><p><span style="color:#FF0000;">Possible benefits could include an explanation of:</span></p><p><span style="color:#FF0000;"></span></p><ul class="branded"><li><p><span style="color:#FF0000;">Cultural generalizations - Although Hofstede's cultural dimensions offer valuable insights into cultural differences, it is important for MNCs to recognize that they are generalizations and may not apply to every individual or group within a culture, i.e., sub-cultures exist in every society and economy. Cultural diversity within a country or region can be complex, and relying solely on the model's cultural dimensions might oversimplify it.</span></p></li><li><p><span style="color:#FF0000;">The dynamic nature of culture - Culture is dynamic and changes over time. Hofstede's cultural dimensions were developed based on research from the 1960s and 1970s. However, societies have since experienced significant social, economic, and technological transformations (such as the significant impacts of articifical intelligence for MNCs). Thus, relying solely on these cultural dimensions may not capture the evolving dynamics and nuances of cultures in the modern corporate world.</span></p></li><li><p><span style="color:#FF0000;">Overemphasis on national culture - Hofstede's model focused on national cultures, assuming that cultural values are uniformly shared within a country. However, the migration of workers and the forces of globalization have increased cultural interactions and the rise of subcultures within nations. In today's interconnected world, MNCs often operate in diverse regional or local cultures that may differ from national cultural norms. Relying solely on national culture dimensions may overlook crucial cultural variations at a more localized level. Hence, MNCs need to recognise this limitation by integrating cultural dimensions with other tools., e.g., cross-cultural training and forming local partnerships.</span></p></li><li><p><span style="color:#FF0000;"><em>Accept any other valid advantage that is clearly explained.</em></span></p></li></ul><p><span style="color:#FF0000;"><em>Mark as a 2 + 2</em></span></p><p><span style="color:#FF0000;">For each point, award <em>[1 mark] </em>for a valid limitation of the tool and a further <em>[1 mark] </em>for an accurate explanation.</span></p></div></section></div></div><div class="panel-footer"><div></div></div></div><p>Return to the <a href="../42640/business-management-toolkit-bmt.html" title="New syllabus (first teaching 2022) » Business Management Toolkit (BMT)">Business Management Toolkit (BMT)</a> homepage</p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/logo-blue-black-1.png" style="width: 170px; height: 54px;"></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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