Cultural Analysis Assignment Example | Topics and Well Written Essays - 2000 words

Cultural Analysis - Assignment Example The first part shall give a theoretical background on the importance of culture in the formation of social identity, as well as the proper ways through which cultural analysis must be done. Through this part, the need for an objective assessment of culture will be reinforced through the help of Geert Hofstede’s Five Cultural Dimensions and the GLOBE Cultural Analysis Model. The second part, on the other hand, will zero in on the results of the three interviews conducted as regards the specific culture and traditions of Spain, Canada, and the Philippines. By using first-hand or primary information as obtained from the one-on-one interviews, credibility of data will be strengthened. The last part will be dedicated to an enriching and highly insightful conclusion that will put an end to this study. Importance of Culture: A Brief Overview By definition, culture refers to the set of beliefs, habits, and art forms that crucially characterize a specific group of people in a specific area. Because of this seemingly vast description, cultural representations may include art, literature, religion, lifestyles, and many more. With this, it can be said that the significance of culture is hinged on its capacity to give a unique identity to people. It gives a community certain character and personality that is original and unique. Thus, it is through the learning and passing of these traditions that cultural values are fostered, which in effect, form the founding principles that help govern people’s way of life. Since cultures have their own share of characteristics, objective measures must be used in order to properly understand and appreciate their natures. Two of the most commonly used analytical frameworks are Hofstede’s Cultural Dimensions and the GLOBE cultural analysis model. 1. Geert Hoftstede’s Cultural Dimensions Hoftstede’s model examines cultural differences by highlighting five key dimensions: Power Distance, Uncertainty Avoidan ce, Masculinity vs Femininity, Individualism vs Collectivism, and Long vs Short Term Orientation. 1 Power distance refers to the degree of inequality that exists in a society and how such is accepted by the less powerful groups. Uncertainty avoidance involves a society’s level of tolerance for ambiguity, unstructured situations, and unplanned events. Masculinity vs femininity pertains to the expected gender roles in a society. Individualism vs collectivism refers to the extent of ties that people have with each other. Long vs short term orientation talks about the degree to which a society upholds traditional values. 2. GLOBE Cultural Analysis Model From a functional perspective, the GLOBE model is used as a long-term research effort to explore the effects of culture on leadership, organizational effectiveness, economic competitiveness of societies, and the human condition of the people being examined. Through the GLOBE model, researchers were able to clearly grasp the releva nce of cross-cultural interactions by studying different industries, organizations, and social groups. 2 Analyzing Three Cultures: Spain, Canada, and the Philippines After assimilating the vitality of culture in relation to social identity construction, as well as the various lenses that could be utilized when studying cultures individually, it is now time to focus on the results of the three interviews and expose the characteristics of each country. In order to put more conciseness in the laying

Bussines Accounting Essay Example | Topics and Well Written Essays - 1250 words

Bussines Accounting - Essay Example Some banks also charge a fee for overdraft facility. It should be noted that an overdraft is specifically meant for short-term requirements of a firm and it does not act as a long term capital. Sometimes the bank asks the firm to provide a guarantee and security to the overdraft availed. As discussed above that overdraft facility is primarily availed for short-term liabilities like accounts payable, so expanding the business through overdraft is not a good plan. 2. A long term loan from financial institution This is a most common way in which SME’s expand their business. As SME’s don’t have the luxury of raising money through issuing securities, the most prevalent way is to take a long-term loan from a financial institution. A business term loan is the most prevalent loan for this purpose. The bank would require financials of the firm for 3-5 years at least and with a guarantee to mark lien. A loan from bank would be passed if the current financial condition of t he firm is good and acceptable to bank and the purpose for which you are taking a loan is justified. The minimum rate at which a long-term loan could be financed is a base rate of prime lending rate. However the actual rate at which ban sanctions the loan could be higher than that depending upon the risk bank is taking in investing, the amount of loan availed and the credit history of the firm. I would suggest my friend to expand by the way of obtaining long term loan from a bank. This also provides significant tax shield. 3. A Finance Lease Agreement A lease agreement is considered as the agreement between the owner and the party intending to use that property conveying the right use of the property. Lease does not includes contracts for services, exploring and exploiting natural resources and licensing agreements for items like patents and trademarks. The advantages of leases are as follows: Immediate cash outflow is not required by the lessee for leasing the asset. A purchase opt ion allows the lessee to obtain at the bargain price at the expiration of the lease. The lessee is able to obtain 100% financing. Flexibility for use of funds for tax benefits. Leases can also be structure for allowing manipulation for calculating tax benefits at the end of the year. Though lease remains an important source of expanding through leasing property, plant and equipment but the clauses in lease can go against and it can be used for buying PPE only. It cannot be used for financing current assets of the company 4. A hire purchase agreement for the necessary non-current assets required in the expansion Hire purchase is considered as the term for a contract wherein a firm or an individual agrees to pay for the goods in installments, parts or in a percentage over the period of time. This looks somewhat like leasing for goods and services. In comes into effect when a firm cannot pay for the property at once but is agreeing to pay in installments for the same. It is recommended to go through hire-purchase for financing non-current portion of assets. 5. Formation of a Partnership Another way of obtaining finance for a firm is through formation of a partnership. Though this looks a good idea at one but lot of things are to be taken consideration off. Firstly, forming a partnership will bring money in the business which is required for expansion but it will dilute the holding of my friend. Suppose a