Article Abstract:
Businesspeople involved in international trade must be sensitive to cultural differences that characterize the countries in which they are transacting business. Differences in values, norms, beliefs, standards, perceptions, and priorities all have an impact on how business should be conducted as they influence customers' attitudes and behavior. Areas in which cultures differ include concepts of family, friends, wealth, status, time, and space. When adjusting to a foreign culture, business people must avoid the tendency to rate, rank, and judge a culture when comparing the culture to their own. Business people must be sensitive to the impact of their enculturation on their expectations and perceptions of a foreign culture, must use clear and unambiguous language to avoid misunderstandings, must be aware of the context of the culture in which information, intentions and meanings are transmitted, and must be cognizant of cultural changes.
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Article Abstract:
Corporate culture is a pattern of behaviors, beliefs, customs, and values shared by employees. Senior management must concern itself with the shaping of the culture to avoid the negative effects caused by a lack of direction of corporate culture as cultural change is the best route to meet new challenges. Changing attitudes is an important component affecting cultural transition, either through the central route or the peripheral route. Changes in attitudes affected by the central route, the result of issue-relevant concerns brought about by explicit statements by management and new training, are relatively permanent. Changes affected by the peripheral route, the result of non-issue-relevant concerns, are not permanent and require constant reinforcement. Central route methods must be preceded by efforts to motivate employees and enable them to understand the benefit of changes. A case example of cultural change is provided.
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Article Abstract:
The controversial floating charge allows banks to lend with charge and allows borrowers to control their asset base. These charges are criticized as being biased towards the holder. However, such a system is not used as often as is generally assumed and large corporate funds are actually unsecured.
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