TOPIC 6 - Why is culture important? (TP070151) (TP071849)

 Patrick:

Culture is all the ways of life, including its arts, beliefs and institutions which are passed down from generation to generation. It has been described as "the way of life for an entire society." It includes codes of manners, dress, language, religion , ritual and art (What Is Culture?, n.d.). 

Cultural are important in many ways. It shapes community identity. It allows people to feel more connected and comfortable on their past and give them confidence from where they came from. These experiences allows them to feel important and think that they are part of something bigger (Claire, 2024). For instance, people wearing traditional or special clothes during a festival or local events for people to share about their past.

Up next, it promotes mutual understanding too. By learning other people's culture, we would be more aware about our words and deeds while communicating with each other to avoid any conflict. In addition, we could collaborate together and avoid any future disagreements when we understand where they came from (Claire, 2024). We would be less afraid of unfamiliar things when we have the knowledge about culture. It helps us to interact peacefully with various types of people in this world (Claire, 2024).

Yen Hau: 

Despite paying 19 billion USD to buy Whatsapp, we think that its a worthy purchase. First of all, Facebook is one of the largest social networking platform having its own messaging app called "messenger". At the time, messenger is still the second used messaging app compared to Whatsapp. To eliminate competition and monopolize the messaging app market, Facebook bought Whatsapp meaning Facebook owns the two of the top messaging apps in the world. WhatsApp also had a massive user base, especially in regions like Europe, Latin America, and parts of Asia. Facebook could leverage this user base to expand its reach globally. Having the top two most used messaging app means it Facebook has a large monetization potential and even eliminate competition such as WeChat, Telegram, Line and much more. (Olson, P. / 2014, October 6)

Bringing in new investors for your business can be challenging. One of the major problem is giving up control and management over your business. Having investors or shareholders means that every decision you make needs to be discussed over with them before you make a decision. The hard part is every person has a different opinion and vision of the business meaning the process of making a business move is much slower and needs planning beforehand. Not only that, the marketing field is very competitive and volatile, attracting new investors interests can prove difficult to small business. You'll have to gain the trust of investors and proof that the business is high value so that investors won't withdraw their fundings for the business. (Panel, E. / 2022, April 21)




REFERENCES:

1. What is Culture? (n.d.). https://sphweb.bumc.bu.edu/otlt/mph-modules/PH/CulturalAwareness/CulturalAwareness2.html

2. Claire, J. (2024, March 3). Why is culture important? (43 reasons). UpJourney. https://upjourney.com/why-is-culture-important

3.Olson, P. (2014, October 6). Facebook closes $19 billion WhatsApp deal. Forbes. https://www.forbes.com/sites/parmyolson/2014/10/06/facebook-closes-19-billion-whatsapp-deal/?sh=7929711b5c66

4.Panel, E. (2022, April 21). 10 good reasons not to seek investors for your business. Forbes. https://www.forbes.com/sites/theyec/2021/12/22/10-good-reasons-not-to-seek-investors-for-your-business/?sh=368d80c120fc

EDITED BY: PATRICK WOO SOON TAT (TP070151) & TAN YEN HAU (TP071849)


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