Barbados Global Business Cultural Analysis

Barbados Global Business Cultural Analysis

Introduction

Barbados is part of the eastern Caribbean island and one of the most developed countries situated in the Caribbean region. The country maintains an undiversified export base and production. It mainly imports the raw materials required for conversion to final output. Some of the final product is consumed locally while surplus is exported. Over the last decade, the region is experiencing an economic hardship owing to the global economic meltdown. Global business relates to the transactions conducted across borders. In line with this, the global business cultural analysis focuses on the business culture of a country and its overall impact across borders. This paper investigates the global business culture with regard to Barbados region. The research will investigate 24 scholarly sources detailing the global business cultural analysis within the region as well as outside regions.

Lombardo, G. A. (2011). Cross‐cultural challenges for a global maritime enterprise. Cross           Cultural Management: An International Journal, Vol. 18 Iss: 4, pp.485 – 498. Retrieved     from  http://dx.doi.org.ezproxy.liberty.edu/10.1108/13527601111179537

The author examines the cross-cultural issues that emerge when conducting international business and management courses. The purpose of this research is to provide students    with a hypothetical case study that will enable them to conduct their own realistic          analysis of business systems in various parts of the world. The research indicates that     cross-cultural conditions are important factors in the global business cultural analysis.          The implication of this research is that there exist significant differences between classroom exercises that students are accustomed to      and the business practices in the real world. The normal textbook readings that students are used to provide limited cross-       cultural exposure to students, a fact that becomes apparent when they begin looking for            jobs. The research provides students with practical experiences that enable them to      apply the concept or theories learned in classroom interactions. The limitations of this             study lie in the inherent differences that exist between the classroom experiences and        the real world experiences. Its hypothetical nature also makes it unable to yield concrete    and scientifically proven results.

Alleyne, P. (2016). The influence of organisational commitment and corporate ethical values on non-public accountants’ whistle-blowing intentions in Barbados. Journal of Applied    Accounting Research, Vol. 17 Iss: 2, pp.190 – 210. Retrieved from             http://www.emeraldinsight.com.ezproxy.liberty.edu/doi/full/10.1108/JAAR-12-2013-        0118

Alleyne (2016) examines the impact of strong corporate ethical values and the       organizational             commitment to the willingness of private sector accountants to act as          whistle-blowers within the Barbados region. The study finds a strong link between        corporate ethical values and organizational commitment with whistle-blowing intentions,           both within the internal and external sources. This study is important since it helps inform       the role of strong organizational cultures in changing the global business culture. There exists a strong link between the organizational culture and the global culture exhibited by             the organization in its interaction with multinational corporations. The study provides an objective view of the role played by corporate ethical values and a strong       organizational culture by obtaining data from 236 private sector accountants through use of   questionnaires. The limitation of this study lies in the fact that its findings are not           generalizable across other professions. In addition, the quantitative survey             method            applied does not allow for investigation of the feelings or perceptions of those sampled.

Rao, A., & Sedlaczek, Y. (2012). Calypso in the Caribbean: a musical metaphor for Barbados.             International Journal of Cross Cultural Management, 12(3): 315 – 327. Retrieved from             http://ccm.sagepub.com.ezproxy.liberty.edu/content/12/3/315.full.pdf+html

The duo investigates cultural diversity within the Caribbean region and its impact on        management at the international levels. The duo investigates the local culture of the       Caribbean region from a musical point of view. Barbados’s inhabitants mainly comprise        of individuals whose origins are traceable to Africa, along other inhabitants distributed     within the Caribbean   region. The research asserts that the socialization of Barbados       inclines them to follow authority. The Barbados has a high “power distance”, which is           described as the relative degree to which society members tolerate unequal power structures. The research aims at understanding basic workplace behaviors such as power        distance, gender differences, materialism, assertiveness, and the relationships between         people from a cultural lens. As the integration of Barbados into the global business        community increases, global business managers need a deeper insight of the various   cultural aspects defining the local population. The limitation of this method is that it   mainly relies on interpretation of culture through music, while neglecting other methods.

Banutu-Gomez, M., & Rohrer, W. G. (2014). The role of culture, language, and ethics in global   business. European Scientific Journal. Retrieved from             http://www.eujournal.org/index.php/esj/article/viewFile/3280/3062

The research looks at the role of ethics, culture, and language in relation to the global       business. The research notes that there is dire need for businesses to learn how to work         together to survive the harsh economic environment. Businesses must learn the culture,     language, and ethics of the countries they intend to take their investments. The researchers collected data through examination of primary sources as well as a vast   collection of secondary sources. These sources enabled the duo to obtain an in-depth             knowledge of how language, culture and ethics affect international business ventures.       The literature review for the research strongly indicated that the language, culture and ethics in a particular country significantly affect how businesses interact at a global scale.          The study brings to light the critical importance of awareness of cultural differences as a             critical success factor for global businesses. The study, however, does not provide     empirical evidence to support its stand on the impact of culture.

Howard, M., & Alleyne, P. (2004). Understanding tax reform issues in barbados*.Journal of        Eastern Caribbean Studies, 29(3), 38-64. Retrieved from      http://ezproxy.liberty.edu/login?url=http://search.proquest.com.ezproxy.liberty.edu/docvi      ew/216624376?accountid=12085

This paper investigates issues relating to tax reforms in the Barbados region. The paper    analyzes the impacts of tax reforms in small countries such as Barbados with regard to improving global business. The study finds that the tax reform policy implemented in           Barbados significantly improved the economy. Tax reforms touched on key mode of             operation whereby the country shifted to an indirect tax system through the application of       value added tax. The system of tax in place is critical in the global business environment.   The duo analyzes optimality of the tax system Vis a Vis supply side efficiency.  Supply-   side tax policies generally examine the impacts of progressive tax rates on items such as          savings or investments. The policies also look at the need to implement appropriate tax          rates that enhance economic growth rather than subdue growth. The article provides a            concise overview of how the tax system in a country influences global business in      Barbados. The study helps to inform readers of the critical role the tax system plays in    influencing global business. The article provides empirical data, which helps strengthen          the arguments.

Byron, J. (2007). STRATEGIC REPOSITIONING: FOREIGN POLICY SHIFTS IN        BARBADOS AND TRINIDAD AND TOBAGO, 1990 – 2000. Social and Economic   Studies, 56(1/2), 209-239. Retrieved from http://www.jstor.org/stable/27866501

This study analyzes the impact of changes in foreign policy in Barbados and Trinidad       region from 1990 to 2000. Liberalization of the global economy had significant impacts           to international trade in different countries. The study notes that the impacts of         globalization were strongest in small developing countries that maintained open           economies. With the advent of globalization, these countries realized the need to            restructure their foreign policy in order to fit in a more dynamic global business             environment. The paper conducts a comprehensive examination of existing literature on   the foreign policy-making process, noting that due to its close proximity with the United         States, Barbados experiences a significant influence from the U.S. in its policy          development process. Since the U.S. is a world superpower, its influence is even higher          over the Caribbean region owing to the close proximity. As such, most of Barbados’    policies reflect those of the United States. The study indicates that small countries such as         Barbados are still in a position to benefit from globalization, especially when such             countries formulate policies that protect the local industries.

Elliott, D. R. (2007). Caribbean regionalism and the expectations of increased trade: insights        from a time-series gravity model. Journal of International Trade & Economic   Development, 16(1): 117-136. Retrieved from    http://web.b.ebscohost.com.ezproxy.liberty.edu/ehost/pdfviewer/pdfviewer?sid=fa14039d            -2081-4271-8300-36feebeeec62%40sessionmgr104&vid=2&hid=115

This study uses a time-series gravity model to examine the impacts of integration in the    economies of three Caribbean countries: Jamaica, Barbados, and Trinidad. The goal of           the research is to establish whether there are any significant benefits arising from         economic integrations. Surprisingly, the study concludes that regional integration does        not necessarily promote trade flows. In fact, in some situations, economic integrations             results to a decline in trade flows between countries. The study utilizes different             variations of the time-series gravity model in order to gain a clear understanding of           natural and induced trade between countries. The study utilizes empirical analysis in    examining the impact of economic integration in the three countries. As such, the study             produces robust results that inform the analysis. The study outlines the main challenge           that countries face in the increasingly globalized world, which concerns achieving high         output in the face of intense competition. The application of gravity models is effective in      this case since the models are suitable for developing countries or those in transition.

Kolstad, I., & Villanger, E. (2008). Foreign direct investment in the Caribbean. Development       Policy Review, 26(1): 79 – 89. Retrieved from             http://onlinelibrary.wiley.com.ezproxy.liberty.edu:2048/doi/10.1111/j.1467-            7679.2008.00399.x/epdf

This study examines the attractiveness of the Caribbean region to foreign direct     investment. Foreign direct investment is significant in promoting the economic growth and development of an economy. The duo conducts an econometric analysis that           indicates that the Caribbean region receives relatively high foreign direct inflows comparing with other select regions. The study indicates that political instability has a             multidimensional impact on foreign direct investment (FDI) inflows in a region. For         instance, the study highlights the absence of government regulation as the major factor contributing towards the high inflows of FDI in the Caribbean region. This study helps to inform the Caribbean governments of the steps they can take in order to increase the flow     of foreign direct investment in the region. This study is important in this research since it           helps in analyzing the most effective measures that governments are taking to attract FDI.      The culture of a country with regard to the measures it uses to attract FDI greatly determines its economic prosperity.

Bernal-Verdugo, L. E., Furceri, D., & Guillaume, D. (2012). Labor market flexibility and             unemployment: new empirical evidence of static and dynamic effects. Comparative          Economic Studies, 54(2), 251. Retrieved from http://p2048-      ezproxy.liberty.edu.ezproxy.liberty.edu/login?url=http://go.galegroup.com.ezproxy.libert     y.edu/ps/i.do?p=AONE&sw=w&u=vic_liberty&v=2.1&it=r&id=GALE%7CA29381188            6&sid=summon&asid=d8cf4059403925e95301f7cf0b2a0557

Bernal-Verdugo, Furceri, & Guillaume (2012) examine the relationship that exists            between unemployment outcomes and labor market flexibility in different countries,           including Barbados. The study utilizes a sample of 97 countries, collecting data between       the years 1985 and 2008. Most of empirical data collected by researchers concentrates on        single indicators with regard to labor market institutions. Contrary to this, the research      examines multiple indicators related to the labor market flexibility. The broad sample collected spanning 97 countries enables the researchers to identify or single out             unobserved country-specific characteristics, which could in one way or another influence the labor market performance. Empirical data gathered was reviewed using correlation         matrix and other statistical measures. The results indicate that increased labor market   flexibility can lead to a decline in unemployment. Previous researches concur with the   above conclusion with regard to the labor market flexibility and job creation. Rigidity in    labor market institutions can hinder job creation and is often associated with increased             unemployment levels in an economy.

Lewis-Bynoe, D., Griffith, J., & Moore, W. (2002). Trade liberalization and the manufacturing    sector: the case of the small developing country. Contemporary Economic Policy, 20(3):        272-280.             http://go.galegroup.com.ezproxy.liberty.edu/ps/i.do?p=AONE&u=vic_liberty&id=GALE            |A89025388&v=2.1&it=r&sid=summon&userGroup=vic_liberty&authCount=1

This article examines the impact of trade liberalization in the Caribbean region with a       bias towards the manufacturing sector. This article compares with the study by Elliott    (2007) that investigates the effect of economic integration in the Caribbean region.      Lewis-Bynoe, Griffith, & Moore (2002) find sufficient evidence indicating that trade             liberalization may not yield any benefits to the economics involved. In particular, the three assert that trade liberalization is a catalyst for unhealthy price competition among     the industries, which may lead to collapse of the industries within the Barbados region.           The article asserts that industries should aim at improving their efficiency by   reorganizing their production processes. The study utilizes an import demand function to examine the effects of trade liberalization on the demand elasticity relating to imported             manufactured goods. The study utilizes firm-level data, meaning that the conclusions     reached support various empirical studies. This empirical research provides a firm             backing regarding the negative impacts of trade liberalization on the economies of            developing countries such as Barbados.

Starr-Glass, D. (2014). Internalizing cross-cultural sensitivity: reflective journals of migrant         students. Journal of International Education in Business, 7(1): 31-46. Retrieved from             http://www.emeraldinsight.com/doi/abs/10.1108/JIEB-07-2013-0028

This study examines the experiences of migrant students in cross-cultural education          setups. The main point reflected throughout the study is that cross-cultural students      harbor deep knowledge and experiences that they ought to share with those who have not          had opportunities to experience diverse cultural settings. The study design involved participants drawn from multicultural settings. Each of the participant received a reflective journal that they maintained throughout the semester. The participants filled out       their most defining cross-cultural experiences in the reflective journals. The journal’s       main aim was to increase the cross-cultural students’ awareness of their cultural        adaptation problems that they were facing. This is mainly through reflecting on the        various issues that confront them. The importance of this study is that it examines the    critical issue of cultural sensitivity. The study results may be applicable to cross-cultural students wishing to study in places such as Barbados. The study can also help             multinational corporations understand how cultural diversity may affect their employees.

Janelle, J. (2014). Culture, community, consciousness: the Caribbean sporting diaspora.    International Review for the Sociology of Sport, 49(6): 669-687. Retrieved from             http://irs.sagepub.com.ezproxy.liberty.edu/content/49/6/669.full.pdf+html

This article looks at the capability of sports to strengthen social relationships and kinships across borders. The article notes that the inhabitants of the Caribbean region have a bias towards recreational cricket. Recreational cricket has for a long time acted as the source of cohesion and as a symbol of the region’s unity. The findings indicate that most groups of Afro-Caribbean descent perpetuate recreational cricket in different regions as a way of cultural production. Recreational cricket thus enables these groups to maintain cross-border interpersonal networks. Cricket matches enables the players and fans to interact and to regenerate the diasporic attachments or consciousness. The article is useful since it enables readers to understand the importance of sports as a way of expressing a people’s culture. In line with this, corporations can easily integrate into the local culture by promoting sporting activities that the bulk of people take pride. The article identifies globalization as key to understanding the economic and social flows in the macro-economy.

Glazier, S. (2011). Barbados. In W. Roof & M. Juergensmeyer, Encyclopedia of global religions. Thousand Oaks, CA: Sage Publications. Retrieved from http://ezproxy.liberty.edu:2048/login?url=http://literati.credoreference.com/content/entry/sagegr/barbados/0

Glazier (2011) examines the culture and religious background of Barbadians. The study looks at Barbados while classifying the residents as per their race and origin. Barbados has a unique history since it is the only of Caribbean countries under British rule during the colonial period. In 1966, the country gained independence from British rule. The country has a high population density of about 1,570 persons per square mile. About 90 percent of the population in Barbados has an African origin. These came into this area during the days of slave trade. European Whites account for about 4 percent of the entire population. Asians and other groups such as Latin Americans account for about 6 percent of the population. Barbadians value religion and as such becomes a significant aspect of their culture. Majority of the inhabitants are Christians, and most of them Protestants. It is important to explore the religion and ethnic background of the inhabitants since these are critical aspects when discussing global business cultural analysis.

Becker, G., Philipson, T., & Soares, R. (2005). The Quantity and Quality of Life and the Evolution of World Inequality. The American Economic Review, 95(1), 277-291.           Retrieved from http://www.jstor.org/stable/4132680

The authors investigate the concept of inequality in developing regions such as Barbados. The authors analyze GDP per capita measures and help readers to understand the implications of these measures in different countries. The study goes further to analyze the non-material items that significantly determine the quality of life in different countries. The authors note that for instance, economic welfare is not only the function of material welfare, but also the quantity and quality of life of the population. The study draws data from 96 countries between 1960 and 2000. The large sample size and the longevity of the data collection period increase the accuracy of the results of this study. The large sample size makes it possible to generalize data in different regions. This study is important since welfare indicators are significant measures of the performance of the economy. Additionally, the study of global business cultural analysis touches on the welfare measures such as GDP, mortality rates, life expectancy, and others.

Denis, A. B. (2003). Globalization, women and (in)equity in the south: Constraint and resistance in Barbados. International Sociology, 18(3): 491-512. Retrieved from             http://iss.sagepub.com.ezproxy.liberty.edu/content/18/3/491.full.pdf+html

This article examines contemporary globalization and its influence to the inequities experienced by women in the Barbados region. The article first examines the impact of modern globalization to the political landscape of Barbados. The major aim of the article is to analyze how Barbadian women experience and benefit from various aspects of globalization during their daily economic activities that they engage. The article also examines the impact of different categorical groupings such as race, social class, and ethnicity interrelates with gender to determine women’s position in society. The study traces women’s role in production in the Barbados region from the early 1900s. In order to provide concrete results, the article conducts a literature analysis of previous studies focusing on the issue of women and development in the region. The research is helpful since it helps examine the role of women in economic development of the region. It is important to examine the role of women in economic development while conducting a global business cultural analysis.

Clair, M., Henry, P. B., & Hlatshwayo, S. (2013). Two tales of entrepreneurship: Barbados,         jamaica, and the 1973 oil price Shock1. Proceedings of the American Philosophical       Society, 157(1), 32-57. Retrieved from    http://ezproxy.liberty.edu/login?url=http://search.proquest.com.ezproxy.liberty.edu/docvi            ew/1459215424?accountid=12085

This study examines the role of favorable public policy in pushing for economic development of a country. The study examines the role of public policy by contrasting the economic growth of Barbados region to that of Jamaica from 1961 to 2011. The aim of this study is to identify how different policies have shaped each of the economies since the mid-1950s. The study conducts a quantitative historical analysis to examine the interplay of factors and policies that have shaped the economies of the two countries. The results indicate that Barbados region has experienced robust growth in GDP owing to favorable public policies that support entrepreneurship and trade. On the other hand, Jamaica’s GDP has largely stagnated since 1961 owing to “anti-business policies” that the government has enacted over time. It is important to analyze the role played by appropriate public policies in the development of less developed nations. This article emphasizes the important role public policy plays in assisting the development of trade and entrepreneurship in economies.

Millar, M., & Devonish, D. (2009). Attitudes, savings choices, level of knowledge and     investment preferences of employees toward pensions and retirement planning: survey            evidence from Barbados. Global Pension Perspectives, 14(4): 299- 317. Retrieved from             http://search.proquest.com.ezproxy.liberty.edu/docview/236573129?pq-origsite=summon

This study examines the attitudes of employees and their knowledge towards pension and retirement planning. The study makes a comparative analysis of employees’ attitudes and knowledge between Barbados region and the United Kingdom. The main purpose of the article is to investigate the financial burden that most countries experience especially due to the high pressure from pension funds that take a huge chunk of their national budgets. Many countries have realized the high financial costs associated with funding an ever-increasing pension fund due to the rising number of individuals reaching the retirement age. The study bridges the information gap that exists with regard to pension literature in the Barbados region. Employers in the Barbados region are supposed to provide employees with a default pension plan outlined by the state government. The study utilizes data from 134 employees drawn from both the private and public sectors. The sample size was not large enough hence it could may be difficult to generalize the research findings.

Craigwell, R., & Jackman, M. (2014). Does government employment crowd out private sector     employment in SIDS? The case of Barbados. The Journal of Developing Areas, 48(4): 1 –          12. Retrieved from http://muse.jhu.edu.ezproxy.liberty.edu/article/544781

The duo investigates the impacts of government involvement in the labor sector with regard to Barbados region. The main aim of the article is to investigate whether government employment of the population produces crowding out effects to the private sector in terms of employment. The article uses Markov-switching error correction model to measure the influence caused by government employment to Barbados’ labor market. The findings indicate that government involvement in the employment sector causes marginal crowding out effect to private firms in the labor market. The study utilizes data collected from 1976 to 2009 on an annual basis. Additional data used for control variables drawn from reputable sources as United Nations National Accounts and World Bank World Development Indicators. The net impact of government involvement towards unemployment is however, negative. It is important to evaluate the impact of public employment programs to the private sector. This enables multinational corporations to be better placed in terms of decision-making and choice of investments.

Addington, C. (2004). Sectoral labor employment in a Caribbean economy: the case of     Barbados. The Review of Black Political Economy. Retrieved from             http://search.proquest.com.ezproxy.liberty.edu/docview/1302851430/fulltextPDF/8563D            1A8A95C4A9FPQ/1?accountid=12085

Addington (2004) explores employment in the Barbados region through a multi-sectorial analysis. The article articulates the findings of Craigwell & Jackman (2014) concerning government involvement in labor employment. The article indicates that government involvement in the labor sector has significant impacts to labor availability especially in the sugar sector. The article looks at the growth of the various sectors of the economy by examining the output levels, growth of real wages and the employment trends by sector. The findings show that tourism is the most robust sector of the economy with real wages of 22.2 percent, output at 96 percent and employment at 37.5 percent. The distribution sector comes second with a 21.4 percent output level and 37.5 percent employment level. The agricultural sector records the lowest output and employment levels. This study can help inform multinational corporations on the profitable sectors for investment. The study is important since it helps analyze how different sectors of the economy are performing.

Suzanne, B. (2008). Policing the transnational: cultural policy and the “Traveling Cultures” of     the Anglophone Caribbean. A Journal of the Caribbean and its Diaspora, 11(3): 70 – 99.       Retrieved from http://search.proquest.com.ezproxy.liberty.edu/docview/200368297?pq-     origsite=summon

This study looks at the complexities emerging from the presence of colonialism and slavery in the Caribbean region. The study notes that since the region received independence from colonial rule, a number of cultural policies have been formulated in an effort to resolve the complexities resulting from colonialism and slavery. Issues to do with culture feature eminently in the Caribbean region development agenda. The major aim of this study is to examine the negative impacts resulting from slavery and colonialism, and to evaluate the contemporary cultural developments that afflict the region. The research notes that inadequate financial resources are a major hindrance towards implementing cultural policies in the entire region. This study offers readers a unique insight into the role of cultural policies during the colonial period as well as the post-independent Caribbean. The study is useful in this research since it shows the role of cultural policies in fostering unity and development of a region.

Bernard, A., & Fernandez, A. D. (2012). Yoruba proverbs as cultural metaphor for understanding             management in the Caribbean. International Journal of Cross Cultural Management,        12(3): 329 – 338. Retrieved from    http://ccm.sagepub.com.ezproxy.liberty.edu/content/12/3/329.full.pdf+html

This study examines how cross-cultural awareness and understanding is built by using cultural metaphors. The globalized world requires that businesses develop a multi-cultural expertise in order to enhance the social, economic and political affairs. The aim of this study is to develop a conceptual framework that shows how managers can use cultural metaphor to develop a cultural understanding in the workplace. The study is similar to Rao & Sedlaczek (2012) study, which seeks to gain a cultural understanding through music. Music and metaphorical aspects forms a close connection as applied in societies. Music contains metaphors that are unique to a particular region or group of people. The study utilizes a robust review of literature relating to cultural metaphors in the region, improving the reliability of findings. This study is helpful since it provides an alternative way in which global business managers can gain an understanding of the Barbadian culture and way of life.

Cashman, A., Cumberbatch, J., & Moore, W. (2012). The effects of climate change on tourism in            small states: evidence from the Barbados case. Tourism Review, 67(3): 17 – 29. Retrieved          from             http://www.emeraldinsight.com.ezproxy.liberty.edu/doi/full/10.1108/1660537121125980  3

The authors examine the nature of Barbados’ greatest revenue earner in the phase of climate change. The major argument of the paper dwells on the fact that with the unpredictability of the global weather patterns, tourism may no longer be sustainable within the Caribbean region due to the threats posed by climate change. The paper conducts a thorough investigation of the current effects of climate change to Barbados and offers some adaptive measures or solutions that the state can take. The study examines various topics related to climate change such as rainfall patterns, biodiversity loss, sea levels and temperatures of the sea, general temperature, and erosion. The study conducts a review of past scientific literature detailing various aspects of climate change in the region. The application of an empirical approach helps in establishing the effect of climate change on Barbados. This makes the study findings reliable and unbiased. The findings of the study can be useful in examining the effects of climate change on different sectors of the economy such as tourism and agriculture.

Lituchy, T. R., Ford, D., & Punnett, B. J. (2013). Leadership in uganda, barbados, canada and the             USA: Exploratory perspectives. African Journal of Economic and Management     Studies, 4(2), 201-222. Retrieved from    http://ezproxy.liberty.edu/login?url=http://search.proquest.com.ezproxy.liberty.edu/docvi      ew/1370357274?accountid=12085

The authors investigate the concept of leadership in a number of countries including the United States, Uganda, Canada, and Barbados. The study seeks to explore two issues, which include the similarities and differences in the culture of the countries and the nature of leadership in the aforementioned countries. The study utilized a Delphi research questionnaire in each of the countries to investigate the various aspects of culture and leadership. In each of the four countries, a minimum of seven individuals or experts participated in the study. The study also utilizes a vast literature analysis drawn to explore leadership and culture issues in the four countries. The use of empirical analysis and review of literature improves the reliability of the study. The study is applicable in the research project since it helps assess the leadership styles and cultures in different countries including Barbados. Global business cultural analysis closely ties with leadership and the culture of a country.

Chan, A. W., & Cheung, H. Y. (2012). Cultural dimensions, ethical sensitivity, and corporate governance. Journal of Business Ethics, 110(1), 45-59. Retrieved from http://link.springer.com.ezproxy.liberty.edu:2048/article/10.1007%2Fs10551-011-1146-9

This study investigates the concept of sound corporate governance practices in organizations across different countries. The study utilizes ethical sensitivity to investigate the difference in corporate governance among various countries. The importance of this study to the research project is that it helps in identifying the cultural influences on the ethical sensitivity of individuals especially with regard to organizations. The study utilizes an empirical approach by obtaining data from a variety of reliable datasets. The findings of the study indicate that the owners of a company have a strong influence in the nature of corporate governance in place. The study also highlights the close connection between cultural dimensions and the corporate governance practices in an organization. This is important in the global business cultural analysis since it suggests that the cultural background of the top management can significantly affect corporate governance practices. The article is therefore significant in the global business cultural analysis.

Leave a Reply

Your email address will not be published. Required fields are marked *