Navigating Cultural Shifts: Globalization's Impact on Society and Business

Abstract

This paper aims to analyze significant cultural shifts and their impact on business and management. First, the paper explains the interpretative approach and justifies its adoption. Subsequently, it identifies and analyzes prominent cultural transformations linked with globalization. Lastly, it dicusses the implications for business and management. The analysis reveals that globalization-induced cultural shifts encompass convergence, divergence, hybridization, clashes of cultures/civilizations, diversity, multiculturalism, time-space compression, temporal acceleration, short-termism, risk, insecurity, and uncertainty. In the end, the social implications are discussed and avenues for further research are pointed out.

Keywords: Culture, Cross-Cultural Research, Cultural Transformations, Globalization, Multiculturalism