Jackson and Phoenix need to partner in the field of finance.

Rick Politician 873454/2/2007 I BUS 300 Chapter 3 Homework a. Certain values, social structures, religions, educational systems and languages aid a capitalistic society in thriving economically while others can put a damper on the economy. For instance, in many Central and South American countries the pace of life is much slower and more flexible. Showing up to a meeting 45 minutes late is not a big deal. The ferries running a couple hours behind schedule is the norm. Doing business in a country whose citizens do not feel that being timely is important could create drastic inefficiencies and costs. Supply chain management has been a popular way to cut costs for companies in the last ten years. It would be extremely difficult to run an efficient just-in-time supply chain with out anyone delivering when they said they would. Religion can create a challenge for a country's success in a capitalistic society. Many religions have holy days during the week where no one is allowed to work. Taking an entire day of commerce and trade away from a country could cut its GDP by one seventh. In societies where a strict hierarchical social structure exists, it is extremely difficult for anyone to rise above the social class they were born into. A driving force of capitalism is entrepreneurship. These self-starting entrepreneurs continually create new companies that push an economy forward, which causes them to socially rise up in society. Yet, in a society where one is not allowed to rise up, entrepreneurial growth would be stunted and the corresponding benefits for the economy would not be there. b. Power distance describes the degree to which the people with the least power in a society expect and accept the inequality of being at the bottom of society. In the work place of societies with a low power distance subordinates are consulted on decisions, the ideal boss is a resourceful and rules democratically and the hierarchy at work exists to make the company run smoothly. For a work place in a country with a high power distance the subordinates are not involved in decisions, the best boss is a generous type of dictator and the hierarchy reflects an employee's place in the society. Individualism vs. Collectivism deals with how much the people in a society are integrated into groups. Individuals look out for themselves while collectivists look out for the good of the group. Collectivist societies have work places where different rules apply to different groups, relationships are more important than the task at hand and the relationship between the boss and the subordinate is based or morals. In an individualistic work place the same rules apply to everyone, getting the job done is more important than relationships, and outsiders are seen as potential resources. Masculinity describes cultures that are competitive and assertive while Feminine cultures are more modest and caring. In Masculine work places people value assertiveness, one over sells themselves in interviews, the career is very important and being able to make decisions is respected. In Feminine work places assertiveness is not respected, employees are often modest about their own abilities, happiness is valued over career and decisions are often based on a gut feeling. Uncertainty avoidance shows how well a country's citizens accept a lack of structure, rules and knowing the 'right' answer. In the work place of country with a low uncertainty avoidance company rules are not appreciated and the whole company structure tends to dynamic. In countries where an uncertainty is strongly avoided the employees need a set of rules and a strict company structure to be successful.