Cultural differences acts as communication barrier and can affect my ability to motivate the group I lead and build connections. There are many ways to start understanding these differences and work with effectiveness with my group from different cultures. Learning how to work with co-workers and different teams from all over the world is important. Based upon Hofstede’s Six Dimensions, I would adapt my leadership approach in the below mentioned ways to lead a group if I were the CEO of a multinational organization. Hofstede’s Six Dimension works effectively with different groups of individuals from different geographical and cultural backgrounds. It is used internationally as a recognized standard for understanding differences in cultures. The six dimensions include; high verses low power distance index, individualism verses collectivism, masculinity verses femininity, high verses low uncertainty avoidance index, long term verses short term orientation and indulgence verses restraint (Hofstede, 2006). Power distance index is the degree of existence of inequality acceptable between people without any power. A high power distance index score shows that a community accepts unequal distribution of power hierarchically as people get to understand their place within the system. A low score of power distance index refers to the power shared and dispersed widely; thereby members of the community do not accept conditions where there is unequal distribution of power. In a country like Ghana with 200 team members, they are to be guided and directed to complete their given tasks. If I as the CEO of their multinational organization do not take charge, they may never take me seriously or even the task given to them as being unimportant. High power distance index has got the following characteristics; huge gap in respect, authority and compensation, centralized organization, supervisors and there is a more...
As a leader, I may be required to go to the top to get answers and also let people acknowledge my leadership status such that an outsiders might be able to bypass my powers. Low power distance index has the following features; employees and supervisors are all equal and the organization is flattered. In this scenario, everyone is to be involved in the decision making process (Hofstede, 1984).
As a result, economic development was redefined in terms of reduction or elimination of poverty, inequality, and unemployment within the perspective of a growing economy (Mamede & Davidsson, 2003). Research indicates that entreprenuership can be both the cause and effect of economic development in the sense of wealth distribution. Countries in which wealth is concentrated in the hands of a small fraction of the population face greater difficulties in coordinating
This means that the Korean model is difficult to implement in countries where performance and advancement are so interconnected. 2. The main theme of the analyzed article is the difference between an individualistic approach towards reward allocation and a team-based one. The theme of the article relates to the article on "Reward Allocation and Culture: A Meta-Analysis," whose theme is reward allocation, in particular the way the reward allocation behavior varies
National Culture and Related Theories This paper presents a comprehensive discussion on the cultural diversity and its impact on the organizational performance and management practices. The paper includes a methodical analysis of the influence of culture on operational performance of an organization and the working patterns of individuals. A logical criticism has also been done on the relevant theories and concepts that are widely practiced in the business world. Cultural diversity refers
Macroeconomics Comparative advantage is when someone is better at something than someone else. In the context of economics, it is typically applied to trade. For example, if two countries are trading, they should each produce the good at which they have comparative advantage. The overall production of two countries producing to their respective comparative advantage will be higher than if they both produced to their domestic demand. Key to understanding comparative
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