It's never easy prospering in a new city or a new environment. Understanding the value system of foreign culture will increase your effectiveness and put you at ease. In the prior newsletters, I discussed a framework for values and explained three of the five cultural dimensions in more detail: individual...

In last month's newsletter, I provided a Values Framework and stated that in subsequent letters I would dig deeper into the implications of the five dimensions of cultural values. Today, I will explain the first three dimensions. In Part 2 of this two-part series, I will discuss risk-taking and how...

A 34-year-old American keeps investing in real estate, mainly houses to renovate and rent. He gets excited when a Wall Street Journal reporter chooses to interview him about his financial strategy for success. He states that his long-term goal is to retire at 55, travel and play golf. To hedge...

Recently a magazine editor asked me to respond to questions from his readers who were mainly Chief Financial Officers and future C-Suite executives. As I reflected on the theme of some of the best questions, it struck me that readers in any executive management position make decisions each day that...

Almost half of major U.S. corporations received takeover offers in the 1980s. This fact is astonishing, but also one that indicates the fluidity of our economy and the constant re-evaluation of investment strategies by shareholders. It also indicates the extent to which uncertainty shapes every employee's work life....

Years ago, while comparing various economic systems, I learned that one indication of the economic values in a culture is the reaction of a person seeing someone else driving a Mercedes sedan. An American wonders how he can afford one someday. The Soviet wonders how he can take it away....

My nephew, a new college graduate and not familiar with many investment possibilities, discussed with me how he could invest savings. The investment community continues to offer innovative ways to diversify and to create value. Most people are familiar with mutual funds, a basket of different equities in which you...

Have you ever wondered what your Intelligent Quotient (IQ) is? We all know bright people who just don't know how to handle certain situations. We say they have low Emotional Intelligence. Some people are quite smart, emotionally savvy, but refuse to take an educated risk to make a difference and turn...

One of my favorite eras is the 1920s. It was a time of jazz and the creation of America's music. It was when one of the most important archaeological discoveries of modern times was made as digging in Luxor, Egypt, revealed King Tut's tomb showing physical history that laid hidden...

American business leaders should care about foreign perceptions of the United States -- especially its military, political, diplomatic and economic strength -- because those perceptions influence the purchasing and negotiation strength of American businesses. Until the 1960s, many Americans believed that they had not sought greatness but had it thrust...

The world is becoming more urban as more and more people are living in cities. In fact, the population of New York City -- 8.4 million -- is roughly the same number of Chinese who move each year from the countryside to a city. Researchers identified May 23, 2007, as...

I was privileged recently to attend an evening of New Orleans jazz featuring Wynton Marsalis and Eric Clapton playing together in Manhattan's Jazz at Lincoln Center. Each of the principals noted that in spite of all of their years of experiences, they rehearsed several days together to create an innovative...

President Obama held a 90-minute dinner in Silicon Valley at the home of the famous venture capitalist John Doerr last week to learn about innovation from some invited guests, including Mark Zuckerberg of Facebook and Steve Jobs of Apple, among others. Little is publicly known about the conversation, but the...

American and European political rights are intrinsically linked with economic rights. Capitalism arose amid democratic revolution in the late 1700s. Americans, committed to a rule of law rooted in a recognition of individual rights, are inclined to doubt China's commitment to capitalism and to see China's economic growth as relying...

"Humor is the great thing, the saving thing. The minute it crops up, all our irritations and resentments slip away and a sunny spirit takes their place," Mark Twain once wrote. My contribution to you is to encourage you to add humor -- and sensitivity to cultural values -- when...

I research and write about economic realities in the interconnected world and their implications for you and your business. I first discovered, in 1983, when I joined the Kellogg Alumni Council, that business school professors provide inspiration, analysis and thoughtful insight into the nature of business. You may be...

The positive response I received about the paradox of China led me to think about the underlying focus of money in both the United States' and Chinese economies. Investing on the basis of daily stock market reactions to news of China's actions makes little sense. Short-term day traders are gamblers...

The more I learn about China, the more I see it as a paradox in that it is both a country that is changing faster than most but still very traditional. The paradox is seen in economic terms as well, as China's GDP per capita is $6600, ranking it...

In my last book and in subsequent speeches and essays, I have addressed some of the challenges of incorporating today's young people into established businesses. With unemployment rates among America's youth currently around 20%, and many recent college graduates working at low-end jobs, it seems appropriate to revisit the issue....

Last Thursday, the government released the updated first quarter 2010 GDP figures (Gross Domestic Product reports the total market value of goods and services produced within a country). GDP results showed a 3% increase over a year ago. Is this good news or bad news? In order to put...