engleski

The importance of managing cultural diversity for modern business environment

The employees of multinational companies of various nations around the globe are working together to fulfil the task entrusted to them. Together with the new millennium, the global economy that is "world without borders" has become an everyday way of modern business. Given the large number of contacts with various people, the successful usage of cultural diversity has become an important area of management. Although the area of managing cultural diversity is still emerging, it is an area of vital importance for management in the modern economy. Understanding and accepting national culture with its values, beliefs, attitudes and forms of behaviour is a prerequisite for the comparison of national and international business practice, expansion on foreign markets, acquisition of knowledge and skills on which the success of an individual or organization is based. Modern business does not recognise the boundaries between the countries, and expects us to embrace and utilize all types of competitive advantages that the modern environment brings. Culture is for sure potential advantage, but it has to be managed properly.

national culture; cultural diversity; cultural dimensions; management; modern business environment

Recent advances in business management and marketing ; Business and Economics series. 7.