discuss why the culture of a country might influence the costs of doing business in that country.

Illustrate
your answer with counttry and company example.

Differences in culture between countries can sometimes make it hard to do business freely.
Getting richer and more connected globally are big reasons societies change. When places
become wealthier, their culture might change too, because making more money leads to other
changes that can shape how people live.

Example if we talk about India there is a lot of IT companies in which one is Mindtree provide a
lot of IT services to other countries and play important role in contributing to the economy and in
India the labor is extensively cheaper and like this many other company in India are benefiting
from the cultural diversities of the countries

The way people in a country live and do things, called culture, can affect business costs. If their
preferences are different, like food or how they work, it might be harder for companies to fit in.
This can make doing business there more expensive.

Example Culture is like a country's special identity, and it plays a big role in how business works
there. For instance, in Vietnam, they have their own amazing foods like "banh my" and "banh
bot loc" that taste great and don't cost much. People like to get them from well-known places like
"banh mi bich." This made things tough for big fast-food companies like McDonald's and
Popeyes. They found it hard to sell their stuff there because the local food is so loved and
affordable. This shows that the culture of a country can make it tricky for big international
businesses to do well when their products are different from what people are used to.

Globalization means that people, things, money, ideas, and cultures move around the world
really fast. This happens because of new technologies like the internet, smartphones, and better
ways to travel. These technologies make it easy for us to connect with people everywhere, just
by clicking a button. Traveling to faraway places has become easier and quicker too, saving us
time. Because of globalization, the world feels like a small community, like a global village. This
helps countries get better at making money through businesses and improving their economies.
New technology has made it cheaper and faster to produce and send things around the world.
This brings people closer together, promotes peace, and creates a sense of unity.

Globalization happening in production and markets wouldn't have been possible without big
changes in technology. Imagine if we were still using old ways of doing things instead of the
new and improved methods. Our world has gone through a lot of changes to get where we are
today, especially in technology. This technology progress has really helped globalization. It's
made life easier for people all over the world. Better transportation, the internet, and faster
computers have helped globalization grow quickly. For example, you couldn't order things from
far away without phones; the internet is used for ads, sales calls, and shipping; and machines can
make things faster so we have more to buy.

A free market economy is when businesses are owned privately and not controlled by the
government. In this system, things are produced based on what people want to buy, and the
prices are decided by how much people are willing to pay. There aren't many restrictions on what
can be produced, except when a single company has complete control, which can be bad for the
society. Sometimes, the government steps in to make sure there's fair competition and growth.

On the other hand, a state-directed economy is when the government has a lot of control over
what's produced, how things are priced, and where money is invested. This used to be thought of
as a good way to boost trade, but now more economies are moving towards the free market
approach for better growth. State-directed economies can cause economic problems and
imbalances. Nowadays, free market economies motivate people to work harder and come up
with better ideas because they can earn more money. This helps both individuals and the
economy grow. In summary, state-directed economies usually have slower growth and less
efficiency compared to free market economies because they have more control and less
motivation for people to do their best.

discuss why the culture of a country might influence the costs of doing business in that country.
Illustrate your answer with counttry and company example.

How have changes in technology contibuted to the globalization of markets and production?
would the globalization of production and markets have been possible without these
technological changes?

Free Market economies stimuate greater economic growth, whereas state-directted economies
stifle growth. Discuss.