The economy and culture of a country are interlinked in many ways.Heres brief explanation with a practical example:
Culture influences economic activities:
•values and beliefs shape consumer behaviour,entrepreneurship.
•social norms and custumes affect the way businessesoperateand interactwith customers.
Example: In Japan,the value of “wa” and respectfor tradition has led to:
• alifetime employment and seniority based promotion,influancing H practices.
•Unique retail experiences,such as gift wraping and custumer service, which prioritize respect and courtesy.
Economic conditions shape cultural expression:
•Economic development and prosperity can lead to increased cultural diversity and exchange.
Example:
In India,economic growth has led to:
•Increased cultural exchange and fusion,evident in music(e.g,Bollywood fusion).
In summary, culture influences economic activities, and economic conditions shape cultural expression. Understanding this interlinkage is essential for business,policymakers,and individualsto navigate and appreciate the complexities of acountrys economy and culture.