Importance of cultural competency in international business from "summary" of A Primer for Spanish Language, Culture and Economics by Lucila Ortiz
Cultural competency plays a crucial role in international business, as it allows companies to effectively navigate the complexities of diverse cultural landscapes. Understanding the cultural norms, values, and communication styles of different countries is essential for building successful relationships and conducting business operations smoothly. Without cultural competency, companies may face misunderstandings, conflicts, and missed opportunities that can hinder their growth and success in the global market. By developing cultural competency, businesses can gain a competitive edge by adapting their products, services, and marketing strategies to meet the specific needs and preferences of target markets. This not only enhances customer satisfaction but also fosters long-term relationships based on trust and mutual respect. Moreover, cultural competency enables companies to address cultural sensitivities and avoid cultural faux pas that could damage their reputation and credibility i...
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