Development: is a multidimensional process. Political leadership (long term vision, economic devel. As priority, huge intervention) / Investment led growth (foster macroecon stability, stimulate private investment, business friendly environment) / Economic modernisation (rural development, industrialisation by c.Advantage, public investment) / Export orientation (specialisation, currency devaluation, public incentives) / Sociocultural initial conditions (human capital, social capital, equal distribution income & wealth)
Hofstede culture dimensions: power distance, individualism vs collectivism, masc. Vs. Fem, uncertainty avoidance, long term vs short term. Schwartz Value theory: values are beliefs that affect behaviour: opens to change, self-transcendence, conservation, self-enhancement (active & dormant).
Culture in economic development analysis: development as freedom (Sen) / culture as preferences (Williamson) / Value system as cultural unit of analysis (Hofstede). Valuenomics! Local value system: socioeconomic context (d.Constraints, e.Activities (vulnerable), consumption patterns, d.Suports (potential resources)) , cultural dimensions, values and agency.
Strategy + organisation: increase profitability (% return inversion): add value, lower costs / profit growth (% increase net profits): sell more in markets, expand internationally).