Are cultural values that are conducive to business a cause or an outcome of economic development? Has their role been exaggerated?
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2) Are cultural values that are conducive to business a cause or an outcome of economic development? Has their role been exaggerated? Nations are based on a certain cultural tradition, and it is then contended that certain values and attitudes within this tradition are intuitively linked to economic performance. National cultures are best understood as complicated contextual structures, in which distinct values and attitudes do not exist in isolation, but rather in a well defined relationship with other values and attitudes (M.Lewis, R.Fitzgerald and C.Harvey).Every country has its unique history consisting of various national characteristics created either by the state or the national culture, which are believed to have major effects on economic growth of a country. Writers such as Alfred Chandler have argued that businesses succeed because of their cultural norms, government regulations and institutions. Large-scale European companies are not as good as U.S companies due to their cultural...

