Skip to main content

Comparison between two retail companies picked are Walmart and Costco

The two retail companies picked are Walmart and Costco whose 2017 Financial statement links are provided below: WALMART https://www.nasdaq.com/symbol/ wmt/financials?query=income- statement COSTCO https://www.nasdaq.com/symbol/ cost/financials?query=income- statement Both organizations are well known brands and position themselves well with their customer base. Walmart’s value proposition is “We save people money so they can live better”. On the other hand, Costco’s value proposition is “All-in-one convenience and everyday affordability”. Both retailers focus on cost saving for their customers. Looking at their financial statements and by analyzing them a few key areas are evident when comparing the two organization. Looking at the current ratio and quick ratio we can determine the short-term solvency of each organization. The current ratio can be determined by dividing the assets by the liabilities. Walmart’s current ratio sits at 0.86 while Costco’s sits at 0.99. The quick ratio is c...

Discuss each specific element of the ABC’s of Cultural Intelligence

Cultural intelligence (CQ) incorporates other intellectual and emotional measures found in emotional intelligence, social intelligence, and cognition.  Specific steps of learning about a culture, actively engaging with people in that culture, and self-efficacy, improve CQ.  Leaders are key to CQ in an organization since they set an example, generate motivation, and drive participation toward positive cultural experiences.


          Cultural Intelligence for Leaders (2012) presents a framework for developing cultural intelligence through metacognition, cognition, motivation, and behavior. The acronym is the ABC’s of cultural intelligence.

Acquire

Knowledge is the basis of the CQ model (Cultural Intelligence for Leaders2012). Learning about traditions, communication practices, social behavior, consideration of time, and other cultural attributes, increases a person’s toolbox, useful when interacting with other cultures. Acquiring information and knowledge gives someone a personal resource to recall for familiar interactions and to apply to new situations.

Build

 A toolbox of knowledge is most effective when used.  However, discernment is beneficial for using the knowledge at the right time and for the particular cultural situation. Therefore, metacognition provides meaning and understanding for our own and other’s behavior through building awareness and planning (Cultural Intelligence for Leaders2012).

Contemplate

In a given situation, cultural intelligence strengthens the ability to observe, listen, think, and adapt to new behaviors or unexpected situations (Cultural Intelligence for Leaders2012).  Contemplation is self-reflective, indicative of the motivation and drive to interact with other cultures.

Do

Another component of the cultural intelligence model is “Do”. This describes behavior; actually interacting with other cultures, evaluating one’s self and the connections with others, and modifying behavior (Cultural Intelligence for Leaders2012).  

Culture Intelligence Is Unique

          According to Earley & Mosakowski (2004), cultural intelligence is comprised of three intelligence aspects: cognitive, physical, and emotional associated with the head, body, and heart, respectively. Cultural intelligence (CQ) differs from the cognitive understanding of a culture’s attributes in that it implies action since CQ is effective when it positively influences behavior. Just knowing about another culture is not sufficient to build cultural relationships.

Culture Intelligence Differs From Emotional And Social Intelligence

          Emotional intelligence refers to feelings, emotions, and the ability to assess and manage them (Cultural Intelligence for Leaders2012).  Social intelligence refers to identifying inner thoughts as they are relate to others and interacting effectively in social situations (Njoroge & Yazdanifard, 2014).  Cultural intelligence is an extension of emotional and social intelligence, looking beyond feelings, at multiple aspects of behavior (Earley & Mosakowski, 2004). Learning about another culture is only part of the CQ process, as understanding one’s own beliefs provide a basis for comparison, along with self-efficacy to adapt and overcome challenges in multi-cultural relationships. Further, CQ differs from cognition as cognitive ability refers to understanding data and information, whereas cultural intelligence also considers behavioral and motivational aspects (Ang, Rockstuhl, and Tan, n.d.).

What Makes Cultural Intelligence Valuable In Leadership Competency In Global Markets

          Discernment of the source of behavior, styles of human interaction, interpretation of verbal and non-verbal responses, and approaches to working on a task, improves the ability of a leader to guide participants’ understanding of each other while directing focus on achieving a particular goal. Cultural intelligence helps a leader avoid assumptions and stereotypes by using observation and information to see patterns based on actual experiences (Earley & Mosakowski, 2004). In this way, leaders adapt to the cultural attributes around them and illustrate CQ to others. Leaders with CQ competence develop CQ in employees which contributes to a high CQ culture in an organization.  Employees with high CQ enhance their value and the value of their organization in the global marketplace (IESE Business School, 2015).   

Conclusion

          Cultures are complex combinations of values, beliefs, traditions, methodologies, physical, mental, and emotional treasures that are engrained in individuals, societies, and groups. Interacting with different cultures is most effective when cultural intelligence is higher, resulting from high motivation, understanding, knowledge, and behavior to respect and adapt to the differences.  Cultural intelligence can be learned through steps such as the ABC framework, yet there is an intuitive aspect that enhances CQ and resonates a sense of ease in a multi-cultural setting.

 

 

References

Ang. S. Rockstul, T. & Tan, M.L. (n.d.). Cultural Intelligence Competencies. International

Cultural Intelligence for Leaders. (2012). Saylor Academy. Creative Commons by-nc-sa 3.0. 

Earley, P.C. & Mosakowski, E. (2004). Cultural Intelligence.  Harvard Business

IESE Business School (2015). Why You Need Cultural Intelligence (And How To Develop It).

Njoroge, C.N. & Yazdanifard, R. (2014). The Impact of Social and Emotional Intelligence on

Employee Motivation in a Multigenerational Workplace. Global Journal of Management and Business Research, 14(3). Retrieved from https://globaljournals.org/GJMBR_Volume14/5-The-Impact-of-Social-and-Emotional-Intelligence.pdf


Comments

Popular posts from this blog

A trip to TAKI, West Bengal , India

                                   As Bangldesh looks on the bank of Ichamoti, from TAKI, West Bengal. Take a closed look, a cattle corpse i s floating on the river bed, near the Bangladeshi bank. Victim of transborder cattle smuggling. I am not sure how young generation would react to the name of yester year’s one of the most popular writer portraying the essence of rural Bengal, its pains and joys, prosperity and poverty and off course the thread of society; Bibhuti Bhusan Bandopadhyay. His simplicity was eminent in is writing; that was best projected by famous film director Satyojit Roy in his internationally acclaimed films like ‘Pother Panchali’, ‘Aparajito’ et el.  At the age of 9, I read ‘Pother Panchali’. Though I was not matured, enough to comprehend its intrinsic message of the content but the very story left a pugmark in my mind. I became more interested about the author later. ...

A Joke "Why I usually avoid 5* Hotels"

Question : "What would you like to have ..Fruit juice, Soda, Tea, Chocolate, Milo, or Coffee?" Answer: "tea please" Question : " Ceylon tea, Herbal tea, Bush tea, Honey bush tea, Ice tea or green tea ?" Answer : "Ceylon tea " Question : "How would you like it ? black or white ?" Answer: "white" Question: "Milk, Whitener, or Condensed milk ?" Answer: "With milk " Question: "Goat milk, Camel milk or cow milk" Answer: "With cow milk please. Question: " Milk from Freeze land cow or Afrikaner cow?" Answer: " Um, I'll take it black. " Question: " Would you like it with sweetener, sugar or honey?" Answer: "With sugar" Question: " Beet sugar or cane sugar ?" Answer: "Cane sugar " Question:" White , brown or yellow sugar ?" Answer: "Forget about tea just give me a glass of water instead." Question: "Mineral water ...

five stages of radical change

The five stages of radical change are Planning, Enabling, Launching, Catalyzing and Maintaining. While each stage needs a leader with varying leadership styles, I will focus on the most important leadership styles for each.  Planning   stage requires an inspirational leader above all else (Reardon et al, 1998). The planning stage requires a leader that can get people excited about changes that might otherwise be uncomfortable or scary. A leader has to be able to convince people that change is good and will have extraordinary results, and that the status quo is worth changing.  Enabling   stage requires a leader that is mostly logical. Enabling involves examining and analyzing next steps in a way that is easy to explain to team members/employees (Reardon et al, 1998). A leader in the Enabling stage of radical organizational change will need to be accessible and able to assist employees in the next steps in a practical way. Launching   stage requires a leader who ...