We've learned about how culture can influence language and understanding, but there is also a distinct difference in how different countries conduct business. One major difference is how companies in different parts of the world make decisions. The Psychology Department at the University of Texas at Austin has conducted a study to determine how distinct these differences are. They found that Western cultures are highly individualistic, meaning there is more focus on the individual and personal achievement; in contrast, decision making in Eastern cultures is collectivist - they tend to make decisions based upon what is best for the group. Also, Western cultures, like the United States, seek one solution to a problem whereas Eastern cultures, like many Asian countries, tend to seek understanding of the problem and thus create more than one solution. Lastly, companies in Western cultures tend to be more risk averse, meaning they do not like uncertainty; however, Eastern cultures will tend to take more risks, and thus frequently receive a larger return on their investments.
Knowing all of this information will be helpful to anyone in business because it will allow people to determine which kind of company they want to work for. While people choose companies based on their business practices, culture, and ethics, companies also choose candidates based on how well their beliefs and morals fit into the company.
Target is a company with headquarters in the United States of America (Western culture) and the Bank of China is headquartered in China (Eastern culture).