Question

10. From a management perspective, understanding culture (and demographics) is vitally important to success in our modern global business community.
True
False

Answer 1

TRUE

FOR any company to survive in this challenging competitive environment, it is very important to understand the culture and the demography and work according to it

Many big companies have understood it already that the same product which is liked by the one culture may be totally rejected by the other

So they have to strategize accordingly with their products.

For example, in the Netherland, the working hours for office is very less as compares to JAPAN. In JAPAN people works for even 12 hours in a day

Forcing the same working culture will not work efficiently for the NETHERLAND.

Hence it is very important to understand the demography.

So demogarphics undrerstanding is very important.