Monday, February 24, 2020

International Culture and the Impact on Approaches to Managing People Literature review

International Culture and the Impact on Approaches to Managing People - Literature review Example From the data he gathered, he defined five critical dimensions that are important in understanding the cultural setting of a foreign market. Over the years, advances in research have made Hofstede’s cultural framework questionable. This paper will discuss the five dimensions and offer a critique of each dimension. Proponents of Hofstede’s framework have highlighted that it has a measure of relevance. Notably, that Hofstede’s cultural framework presents some appealing characteristics to some researchers. The fact that the cultural framework emerged when minimal data existed concerning the effect of culture to businesses makes Hofstede’s work outstanding. Moreover, during that time, there were minimal scholarly studies and the fact that Hofstede relied on one to develop his cultural framework made his work appealing (Blodgett, Bakir, & Rose 2008, p. 340). Moreover, he carried out several systematic studies with the same purpose of understanding how different societies held different cultural views. Finally, he combined data from all his studies and developed the dimensions of his cultural framework. One of the underlying factors that contribute to questioning of Hofstede’s framework is the definition of culture. Notably, exists is no specific definition of culture that has received acceptance from different scholars. There are numerous definitions of culture and the relevance of any cultural theory depends on the definition of culture used by the scholar. According to Hofstede, culture denotes â€Å"a collective programming evident in the mind† of individuals, belonging to a certain group, and that makes them different from other groups. Therefore, Hofstede developed his cultural framework based on the definition of culture as mental programming comprising of thoughts and feelings that determined how members of a certain group act. The reason why

Friday, February 7, 2020

Chinese Foreign Currency Reserves Swell by Record Amount Article - 1

Chinese Foreign Currency Reserves Swell by Record Amount - Article Example However, this spawns another problem. The additional renminbi issued causes the money supply in the country to rise even further. What was not discussed in the article is the direct impact of the level of money supply on inflation. A high level of money supply circulating in the economy causes aggregate demand to rise. This increased demand for goods and services is what pushes general prices to go up. Looking at China’s foreign reserve levels, in the third quarter of 2010, it increased by $194 million. In the fourth quarter, it jumped by $199 million to raise the total to $2.85 trillion. This increase was much larger than what economists had expected. During this time, China â€Å"doubled its intervention in the currency markets to about $2 billion a day† (Bradsher, 2011). And so, the country’s money supply was 19.7 percent higher in December than a year earlier. The increase in money supply though is not solely due to the central bank’s efforts to keep the value of the renminbi in check. Banking loans have also risen and measures taken by the central bank to slow down lending, primarily by increasing bank reserve requirements have proven to be ineffective. Bradsher, K. (11 January 2011). Chinese foreign currency reserves swell by record amount. The New York Times. Retrieved 14 June 2011.