Psychic distance
| Type | Citation | Sources | Views | Words | Pages | Essay # |
|---|---|---|---|---|---|---|
| Term Paper | Harvard | 17 | 25 | 2740 | 10 | 36719756 |
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...... The first difficulty is the lack of consistency in the way the word is used and defined. Sivakumar and Nakata (2001) noted that Psychic distance is one of the most commonly cited, yet vaguely measured, constructs within the realm of international business research. Many rely on a previously developed scale of Hofstede (1980), some researchers employ empirical measures of psychic or cultural distance, and others create their own estimates of psychic or cultural distance
Hofstede looked at five cultural elements that impacted psychic distance: 1) The Power Distance Index (PDI) focuses on the degree of equality or inequality among people in a country's society. A High Power Distance ranking indicates that inequalities of power and wealth have been allowed to grow within the society, such as a caste system. A Low Power Distance ranking indicates the society de-emphasizes the differences between citizen's power and wealth. 2) Individualism looks at how much the society reinforces individual or collective achievement and interpersonal relationships......
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