Review of a Master’s Thesis Section: Culture and Economic Behavior – A Historical and Modern Perspective

Culture has a significant impact on how people and corporations act in the modern global economy. Success for businesses that operate internationally depends on their ability to comprehend cultural differences. Multinational corporations (MNCs) frequently find it difficult to adjust to the varied values and norms that affect how business is conducted around the globe. Power Distance, Masculinity vs. Femininity, Individualism vs. Collectivism, Uncertainty Avoidance, Long-Term vs. Short-Term Orientation, and Indulgence vs. Restraint are the six dimensions of culture that Geert Hofstede's 6D model divides into to further explain these disparities. These dimensions affect everything from decision-making to management styles and business strategies.This chapter compares two major regions; Europe and the MENWA (Middle East, Northwest Africa) and explores how cultural differences impact multinational companies operating in both areas.Businesses can enhance their strategies, establish deeper connections with stakeholders, and perform better in the global market by understanding these cultural nuances.