The Seven Cultures of Capitalism
"The Seven Cultures of Capitalism" is a framework developed by Geert Hofstede that explores how different cultures influence economic behavior and business practices. It identifies seven distinct cultural dimensions that shape the way capitalism is experienced in various countries, including individualism, power distance, and uncertainty avoidance. Each culture has unique values and beliefs that affect how people engage in economic activities.
These cultural dimensions help explain why businesses operate differently across the globe. For instance, in cultures with high individualism, personal achievement is prioritized, while in collectivist cultures, group harmony and collaboration are emphasized. Understanding these differences is crucial for international business success.