Culture in Business

In international business, cultural differences are important. For example, McDonald's has several restaurants throughout the world. The restaurant chain can write a book about how to do business abroad literally. In the late 1990s, McDonald's decided to open several restaurants in India India is a poor country, but it has 200 million prosperous middle class. The possibility of entering this new customer is enough for the chain to enter the Indian market.

Please note three keywords: team, culture and business. The order of these words is intentional. I believe that building the right foundation through appropriate teams and culture can continue to grow. Products in every business change over time. By keeping the team consistent with cultural values, we can guide these transitions; ambiguous or weak culture disappoints you. That is why our culture is a key indicator of Patreon's business success.

In the business, the word "culture" is used a lot. "Breakfast strategy to eat culture", "Culture will win forever". In the last two decades, articles that used table football tables, bean chairs, scooters, and a colorful dining room to praise Silicon Valley culture eventually disappeared. There are many articles about the story of corporate culture, but the foundation of culture is not widely understood. Management priorities play an important role as well as company values ​​and core values.

Corporate culture is a definition of a company, but ironically, it is a difficult term to define the corporate culture itself. Simply put, culture is your company's personality and belief. It consists of your core value, mission, and goal. It also includes ways to communicate and communicate these qualities both inside and outside. Please consider culture as company's DNA. By answering these questions, you can better understand yourself: Emerging companies with poor culture are often doomed to failure. Fostering a culture of poverty or ambiguity is associated with employee turnover, misfortune, and decline in performance. According to a survey by Columbia University, companies with poor culture had over 48% sales, strong business sales were 13%.

How does culture influence business? When communicating business with people of different cultures, we must consider their beliefs and actions. We need to overcome the language barrier. Cultural differences affect the success or failure of negotiations. It is necessary to consider the sensitivity of time, communication method, decision making, risk taking, and differences in thinking among parties. When finding a business for a target group, companies need to study the cultural value of that group. Their hobbies and preferences are influenced by their culture. Advertising strategies adopted by American audiences do not apply to Asians. Therefore, companies need to consider cultural differences from product design to marketing.