Question : Case Study 12:
ABC Ltd. is a retail company that recently expanded its operations into international markets. It is facing challenges due to differences in cultural practices and consumer preferences in different countries.
Q:- What does the term "cultural diversity" refer to?
Option 1: The process of reducing government intervention in the economy
Option 2: The process of nationalizing private companies
Option 3: The existence of a variety of cultural practices and customs within a society or group
Option 4: The process of increasing economic integration and interdependence among countries
Correct Answer: The existence of a variety of cultural practices and customs within a society or group
Solution : The correct answer is (C) The existence of a variety of cultural practices and customs within a society or group
The term "cultural diversity" refers to the existence of a variety of cultural practices and customs within a society or group. It reflects the presence of different cultural backgrounds, traditions, languages, and customs among the people in a given society or organization. Cultural diversity can result from factors such as immigration, globalization, or historical cultural influences.