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Please respond to the following ( three paragraphs )
1) Do you agree with the notion that ‘Cultures in Europe are becoming more similar’? Justify your response
2) What are the advantages and disadvantages of cultures becoming more similar
3) Be sure to respond to at least one of your classmates’ posts.
Classmate Post: I disagree that cultures in Europe are becoming more similar. In comparison to the United States, businesses in Europe are more conservative. The United States has a more open-minded approach to new ventures. A new business needing capital is more likely to get it in the United States rather than Europe. According to an article from Forbes, comparing the amount of capital and lenders are in two different categories. U.S. lenders generally will pay up to 200% more for capital than European lenders. European investors are conservative with funds when it comes to business dealing. Europe often falls months behind in business such as current events or external factors. For example, Europe is still recovering from the COVID pandemic and is slowly returning to business, and the United States quickly returned to normal business operations (Cassis, 1). From a new business standpoint, opening a business in Europe will require more time, money, and resources because of the cultural differences. Every aspect of business, from finance production lines to staffing, will not happen as quickly as opening a U.S. location. It is as if you are running two companies with the same products and services, but business practices differ. I have worked with global companies and have personally seen the lag when opening facilities in Europe; culture plays a considerable part in the process.
Rami Cassis. April 13, 2022. Cultural Differences Explain The Business Chasm Between The U.S. And Europe. https://www.forbes.com/sites/forbesbusinesscouncil/2022/04/13/cultural-differences-explain-the-business-chasm-between-the-us-and-europe/?sh=6bc9d8b92775.