Question

1)Discuss and give examples of Hofstede’s 5 dimensions of culture.

2)Define: enculturation, acculturation, consumer ethnocentrism

3)Compare/contrast USA vs. Asian culture in terms of:

Time

Space

Relationships

Agreement

4)What are BRIC markets and why are they important?

5)What is Chindia and why is it important

6)What is Glocalization?

Answer 1

1) Discuss and give examples of Hofstede’s 5 dimensions of culture.

Geert Hofstede developed the theory of cultural dimensions which builds a framework for the communication between cross-cultures. It focuses on the effect that the society’s culture on the values and norms of the members of the society.

The five dimensions of culture according to Hofstede are power distance (PDI), individualism (IDV), masculinity (MAS), uncertainty avoidance index (UAI), and long-term orientation (LTO).

4) What are BRIC markets and why are they important?

British economist Jim O’Neill termed the acronym BRICS which means the association of five major emerging national economies which are Brazil, Russia, India, China, and South Africa. The main objective was to build cooperation between the member nations in order to move on for the development of the nations, providing financial assistance to the nations in need, providing support for other projects and help in building infrastructures.

5) What is Chindia and why is it important

Chindia is a portmanteau word coined by the Indian Member of Parliament, Jairam Ramesh, which refers to the countries China and India. The term was coined in order to highlight the growing nations which share the long borders. It focuses on the fact of the simultaneous rise of both nations.

6) What is Glocalization?

The word Glocalization has been made by combining two words ‘globalization’ and ‘localization’ together. It describes the products or services which is developed and distributed globally which also fits the local consumer.