Importance of culture for business
The Importance of ultra should be well assured by organizations. Every organization has their own set of working cultures, values and ethics that are practiced within the organization itself between employees, managers, Coo’s etc. This helps because most people come from different upbringings, cultures and values. Therefore, setting one culture in the workplace or organization can reduce an incident of hostility or misapprehension and will help deter the risk of a downfall In the growth of the organization.
In the expansion of Disney, culture plays an important role. According to (Craig & Douglas, 2005), research is essential to prevent expensive slip-up of unsuitable strategy and the probability of losing chances In International markets. Disney has already demonstrated the impact of ignoring the cultural differences in different countries.
For example is the opening of Euro-Disneyland in France, Disney made a bad move by paying attention to the wrong details of the country, Its culture Its people and had made the assumption that their one marketing strategy would fit in every country hey expand into, (You, 2009) “We were told Europeans don’t take breakfast,” executives said and had slim-down the size of the restaurants. When In reality. Everyone turned up for breakfast that created
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This shows the lack of effort that was taken to study the different cultures before the expansion Into France and Disney was too self-assured to care for the minor details, which resulted in a loss of $2 billion (Barnett & Savannah, 1994). The cultural considerations that Disney must cake Into account for expansion include, as stated by (Hill, 2007). Setting up a business in a different country that has a different culture compels adoption to fit in with the principles and customs of that culture and also which Incorporate most attributes of a universal firm’s strategies in an unfamiliar country.
Disney should be more aware of the cultural differences that are present when moving into an international market and thus should be able to adapt the cultures and comply with the laws of the country itself. Disney should also look Into the political stability, economical growth and the aspect of technological development of the country as well. These aspects will be able to provide Disney with a general yet elaborate overview of the city or country they have chosen to expand In.