Compare and contrast the business cultures and styles of management between East Europe and Latin America. Provide empirical examples throughout the report. Utilise chapters 1 to 6 of the text book as the
foundation of your study.
Compare and contrast the business cultures and styles of management
The business culture or the corporate culture can be defined as an implicit code of conduct which determines priorities as well as ethics of the company, provides the “feel” of the company in addition to determining the way the company acts in response to ever evolving business situations. On the other hand management style can be defined as the way, in an organization the managers and the leaders deal with their works, their responsibilities and most importantly their subordinates. It has been opined by various past researchers and industry practitioners that management styles can be defined as the group of features which has an influence on the process of decision making in the organization as well as process of handling the subordinates (PARSONS, 1951).
In this paper we will attempt to compare as well as contrast the business cultures in addition to styles of management between East Europe and Latin America. For this we need to examine the business cultures and styles of management of East Europe and Latin America in the beginning. Post that the cultures and styles of management will be compared and contrasted.
The business cultures and styles of management of East Europe
While giving an account of the business culture and management style of the Eastern European countries with respect to the USA, famous academician and writer James Heskett has said in his article ‘Are We Entering an Era of European Management Leadership?’:
Antonio De Luca describes important differences between American and European management leadership this way: “If one has to generalize, it is fair to say that Americans pursue risk and Europeans seek stability … (leading) to fewer opportunities with more limited financial rewards, but possibly more balance for Europeans. The solution, as usual, is a sensible convergence of these two nuanced cultural approaches.”
The differentiating factors for the East European management styles as well as the business cultures are generally determined on the basis of few factors. These few factors are: the size of the markets, the existing levels of development the roles which are being played by the local government in addition to the abilities of the executives of the local areas (PAPALEXANDRIS et al. 2004).