Emerging Markets Business Summer 2016 | Page 79

EMB   Why Culture Matters Culture: The ideas, customs and social behaviors of a particular people or society. The attitudes characteristic of a specific group. A system of shared assumptions and beliefs, which governs how people behave. Whatever the definition, ‘culture’ is bounced around corporate offices, city centers and government agendas with increasing propensity. Such is our apparent obsession with the word, it has become a requisite add-on for many a term: work culture, organizational culture, street culture. But while culture has, in one form or another, infiltrated our everyday vocabulary, how many of us can claim to know what it means, on the ground, in reality? And more importantly, why does it matter? Drawing on two different perspectives that place culture at the core of business thinking, EMB explores the concept and its real-world relevance. EMBreview.org  77