Different Countries- Different Legal Systems
All legal systems across the world, work off the same principles of doing the right thing. The difference is, each country has their own set of rules and regulations to follow, so it can be open to interpretation at times.
The legal systems in all countries are predominantly ruled by their political beliefs, religious beliefs and rules. Without knowing each countries individual legal system, it is hard to give advice or suggest courses of actions, until further legal advice is sought.
Corruption is prevalent in all areas of our lives, however it's affect in business is particularly important. From shady business dealings, dodgy directors and just general bad business practices, it is important that businesses retain a professional and honest reputation, to move forward and stay a trusted member of the business community.
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Growth in both rich and poor regions is affected by investments, GDP per capita and population growth. In poor regions, both investments and population growth are more significant than in rich regions with healthcare being important only in affluent regions.
One common denominator is that capital is significant to growth, whether in the form of investments or GDP per capita, and that population growth is negative to growth.
What determinant the Chinese Business Culture?
Chinese society is changing very fast, with regards to youngsters especially who are appearing as highly challenging individuals for the entire globe. But still there is a great difference in potentialities which needs to be explored.
Chinese businessmen are highly concerned about keeping their working class happy and healthy by ensuring safety work practices.
Don’t forget the fact that no matter China is progressing by leaps and bounds but at its own determined level. So, rushing into an agreement will not be a fruitful attempt unless you are really prepared to adapt the business culture and interested in going further in a contract. However, embracing the Chinese culture increases your chances of being in the business sector many times. Be very well prepared for negotiations.
Buddhism and Economic Implications
The economic aspects of Buddha's teachings, particularly the economic impact of Buddha's teachings in the society of his time and a bit later are significant.
Buddha preached and even personally urged the rich to help the poor, and, thus, contributed to some extent to narrow the gap between the haves and have-nots. It was after the Buddha’s teachings and inspired the kingdoms of that time to spent on the betterment of the poor sections of the society
Individualism versus collectivism
Whether a person’s life belongs to him or to the people, society or community he is living with is what defines the basis of individualism. In comparison to this Collectivism is the idea that the individual’s life belongs not to him but to the group or society of which he is merely a part, that he has no rights, and that he must forgo his own interests or goals for the betterment of the society.