Sociocultural Segment

• The sociocultural segment is concerned with a society’s attitudes and cultural values.
• Because attitudes and values form the cornerstone of a society, they often drive demographic, economic, political/legal, and technological conditions and changes.
• Individual societies’ attitudes and cultural orientations are anything but stable.
• Successful firms must have an awareness of changes taking place in the societies and their associated cultures in which they are competing.
• societal and culture changes challenge firms to find ways to “adapt to stay ahead of their competitors and stay relevant in the minds of their consumers.”
• sociocultural factors influence the entry into new markets and the development of new firms in a country
• Attitudes about and approaches to health care are being evaluated in nations and regions throughout the world.
• Greater diversity in the workforce creates challenges and opportunities, including combining the best of both men’s and women’s traditional leadership styles.
• Although diversity in the workforce has the potential to improve performance, research indicates that diversity initiatives must be successfully managed in order to reap these organizational benefits.