What Is the Fundamental Notion of Western Management Practices? Is

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The Answer is Perhaps most fundamental to Western management practices is the notion that competition is crucial for efficiency, improvement, and regeneration. The notion of the "invisible hand," propounded by Adam Smith, justifies competitive behavior because it improves society and its organizations. Competition among salespeople is a good thing because it promotes better individual performance and consequently, better corporate performance. However, managers and policymakers in other cultures often do not share this "greed is good" view. Cooperation is more salient, and efficiencies are attained through reduced transaction costs. These latter views are more prevalent in collectivistic cultures such as China and Japan.

What Is the Fundamental Notion of Western Management Practices? Is

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