Social – Cultural Environment


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Social – Cultural Environment

 

Social and cultural environment occupies important position in India along with other elements of environment. Culture, which is a very intriguing and complex factor, is often a very critical component of business environment. Proper understanding of the cultural dimensions is very important for product development, promotion, business negotiations, human resource management and management of overall environmental factors.

 

A company which sets out to do business in unfamiliar cultural environment may, therefore encounter several problems if proper home work is not done. Many MNCs agree that “cultural differences are the most significant and troublesome variables encountered by the multinational company. The failure of managers to comprehend fully these disparities has led to many international business blunders.

 

Socio-cultural environment is the outcome of expectations of social groups which include consumers, employees, shareholders and local community. Businessmen in India, if takes the social environment for granted, ultimately lands up falling in to business blunders. Disregarding social environment means disregarding consumers and other social groups, which are closely related to business. All business groups are dependant on social support and social environment.

 


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