If you say something is "a piece of cake", you might think it means easy, but a person using a foreign language-English dictionary might interpret this as meaning "a portion of a pastry". Canadians might not think we use a lot of slang, but as a result of our multi-cultural influences we do use many many slang expressions and metaphors. For example from the younger generation we have "my bad" to the older generations "beg your pardon".
If YES, here are 10 ways socio-cultural factors affect your business and what to do about it. Being in business is not only about knowing how to make sales and generate great profits, but it also involves understanding the environment you intend establishing your business.
A complete business person ensures that he or she studies the social — cultural attributes of the people that live in the environment they intend starting their business during the feasibility studies.
You might want to ask the meaning of the word socio — cultural factor. As the word implies, socio — cultural is a combination of two words social and culture.
In essence social — cultural factors are the lifestyle of a group of people, their customs and their value system. Predominantly, the socio — cultural factors of a group of people is influenced by their religion.
Other factors that can influence the socio — culture of a people are their language, the law of their Socio cultural forces of the international business, politics and the economic status of the people.
So, if you want to make it big in business, it is very important that you consider the socio — cultural attributes of the people that live in the place you intend planting your business. Let us quickly examine the 10 ways socio — cultural factors can affect business: Means of Communication Every community has a means of communication and the ability for you to key into their style of communication will go a long way to positively impact your business.
Much more than the language that is being spoken by a group of people, there are other salient and unspoken words that carry great importance. For instance some culture frowns at a younger person that present his hand first for a handshake with an elderly person.
Purchasing Power It is very important that you know the purchasing power of the people that live in the area where you intend establishing your business. There are some kind of businesses that can thrive in places where the people that live there are poor and there are some other businesses that cannot survive such environment.
However, if you start a consignment shop in the ghetto, you can be sure that your business would surely flourish.
Days Set Aside for Worship Holy Days As a business person looking toward starting your business, you should consider the fact that the days set aside for worship can affect your business.
So you must ensure that you are aware of the days of worship of the people that live in the place where you want to establish your business. Advertising Preference Advertising preference is another socio — cultural factors that affects businesses globally. The truth is that the advertising model that may sell in the United States of America, might likely not sell somewhere in the Middle East.
Hence, the wise thing for any business owner to do before putting up advert for his or her business is to understand what appeals to the people that dwell in the community where the business is to be sites and then design their advert to conform to the language of the people.
Family Setting Family setting is another socio — cultural factor that influences businesses. For instance; in most developed countries anybody above 18 years could make decision for himself or herself while in some countries or societies, as long as you still live under the roof of your parents, they may continue to take decisions for you.
So, if you intend establish a business that appeals to young adults, then it is important you consider the role of parents in the society you intend starting your business. The Law of the Land The law of that governs a people is considered to be one of the major socio — cultural factors that can influence businesses.What is Socio-Cultural Environment in International Business?
A set of beliefs, customs, practices and behaviour that exists within a population. International companies often include an examination of the socio-cultural environment prior to entering their target markets. 5. Definition of cultural forces: The influencing mechanisms which exist within a population that guide business practices and/or purchasing behavior.
For example, customs regarding labor in Japan will influence how a company manages. The success of a business may also depend on certain cultural values such as the perceived value of education and work ethic as well as the value of public investment in infrastructure.
Socio- Cultural Dimension of Business Environment. Social and Cultural Environment Ppt. 11 Socio cultural (Chap. 7).ppt Documents Similar To Socio cultural factors and its impact on business. Busines Quiz's rounds & rules. Influential Factors of International Business and International Business Environment.
Uploaded by/5(11). The cultural environment for international business refers to the set of factors which shape the material and psychological development of a nation and represents the primary influence on individual lifestyle, attitude, pre-deposition and behavior as consumers in the market.5/5(18).
Sociocultural factors are customs, lifestyles and values that characterize a society or group. Cultural aspects include concepts of beauty, education, language, law and politics, religion, social organizations, technology and material culture, values and attitudes.