Cultural Communication

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Cultural Communication

Business Communication, MGT309

University of North Carolina at Greensboro

Writing that Works (2010). Oliu, Brusaw, & Alred

 

 

 

 

 

 

 

Hi. Welcome to our lecture on Cultural Communication. As I think about cultural communication, I first think of travel and how much fun it is to experience something new. I imagine most of you feel the same way. I hope that each of you take advantage of the study abroad experiences that UNCG offers you. So, let’s talk about the impact of culture on our relationships and our communication. Remember, business is relationships and the tool of relationships is communication.

 

I imagine you’ve heard the expression ‘the world is flat.’ That reference simply means we are becoming more of one world, one unit over the pieces and parts that separate us. Instead we are becoming a single global society. Research states that 90% of leading executives from 68 countries named cross-cultural leadership as the top management challenge for the next century. We need give significant attention to this topic.

 

What is culture? Culture is our identity and our roles, and often we don’t know the impact of it’s influence. Culture is defined as the relatively specialized lifestyle of a group of people that is passed on from one generation to the next through communication, not through genes (DeVito, 2013).

 

Culture is everything that members of that group have produced and developed-their values, beliefs, artifacts, and language; their way of behaving; their art, laws, religion, and of course, communication theories, styles, and attitudes. Think of it like the water a fish swims in or perhaps the house we live in. It’s all around us, influencing our thinking and behavior in every moment. It affects our decisions – our work and our play. If affects who influences us and who we influence. It is part of our thinking and behaving.

 

 

 

 

 

 

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We need to….

Understand our customers

Manage our personnel

Recruit talent

Have an adapting/open leadership style

Communicate respect at all times

 

70% of international ventures fail due to cultural differences

 

 

 

Doing business in another a culture outside of you own has special challenges as we make lots and lots of unintentional mistakes and alienate the people we in fact want to build relationships with. 70% of international ventures fail due to cultural differences.

 

The retail giant Wal-Mart, in Germany, is a good example of this failure.

“After eight years of struggling in Germany, Wal-Mart sold it’s eighty-five stores there. Many journalist have theorized about what led to Wal-Mart’s failure given the company’s wild success at home, but it’s widely agreed that Wal-Mart’s primary flaw was in ignoring the cultural differences between the USA and Germany. The company tried to apply its USA success formula to a German market without modifying it. Whether it was the kinds of products offered, the way in which items were displayed, or the policies used in the employee handbook, Wal-Mart’s stint in Germany seems to be a case study of what happens when greater attention isn’t’ given to the powerful role of culture. As a result, Wal-Mart filed a lost of USD of $1 billion.” Livermore, D. (2010). Cultural Intelligence. New York, NY: AMACOM. p. 65

 

 

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Is societal culture the same or different from organizational culture?

 

 

 

The answer is ‘yes.’ Each space, a society, a group, or an organization, all have a unique energy with specific norms and routines.

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Clothes

Appearance

Ethnic Group

Energy

Behavior

Language choices

 

 

What We See

 

 

 

Think of an iceberg. It’s only the top that is visible while in fact the entire iceberg is above and below the water – with the largest part, the most impactful part, being what we cannot see.

 

But first let’s talk about the outside, what we can see.

 

We judge others in order to feel safe. We want to be able to predict how they will interact with us. Our clothes tell a story, our hairstyle and jewelry tell a story. Our face shows our ethnicity. Our energy show our zest for life. Our behavior tells how we think and what we believe to be important. And, our language too is a reflection of how we think and what we believe to be important. If you listen, really listen, to others they tell you who they are.

 

So, the business and personal lessons is that you have to be 100% responsible for your first impressions, your personal brand, and your professional brand. What your wear is as important as what the internet says about you.

 

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Ethnocentrism

Individualism or Collectivism

Associative or Abstractive thinking

Particular or Universal

Faith, facts or feelings

Values

Open or closed-minded

Relationship support

Personal biases

What We DON’T See

 

 

 

Our unconscious is more of our thinking and behaving than our conscious. What we DON’T easily see is what is impactful to our thinking and our behaving. And we have a tendency toward ethnocentrism (an idea that our cultural values and beliefs are far superior to other cultural values and beliefs) – what we believe is good and valuable and important we project onto others which is not always good thinking. Our nurture shapes our thinking.

 

Let’s talk about some items involved in our perspectives to others.

 

For example,

Are your individualistic or collective culture?. US citizens tend to be individualistic and Asians are more towards collectivism. An individualistic culture teaches members the importance of individual values such as power, achievement, hedonism, and stimulation (Ex: US, Australia, UK, Netherlands, Canada, New Zealand, etc.). A collectivistic culture, on the other hand, teaches members the importance of group values such as benevolence, traditions, and conformity (Ex: Guatemala, Ecuador, Panama, Venezuela, Colombia, Indonesia, etc.)

Associative or Abstractive? Some people think in past connection to past connections, others thinks in the abstract.

Particular or Universal? Particular is a person who believes that personal relationships are more important than following rules, an Universalist is the reverse rules first, people second.

Decision Strategies – faith, facts of feelings. Faith is using one’s personal belief system. Facts is people who want to see evidence. Feelings, the most common, go with their gut instinct or use their brain limbic system.

Values – nurture (and then later choice) influences us to choose the important. For example, some people care about neatness, other’s don’t. I am sure you can think of examples too.

 

Are you (or they) open-minded, ready to listen to a differing opinion/view. Or are you closed believing that your way is the best and only?

Who do you rely on for support and advice? Support systems swing thinking and behavior.

What are your (their) personal biases? Stereotyping and narrow-mindedness affect our ability to relate with one another.

 

 

 

 

 

 

 

 

 

 

 

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Geert Hofstede – Dutch Researcher in the fields of Organizational Studies (culture), and cultural economics and management.

 

Pioneered the study of cultural dimensions.

http ://geert-hofstede.com/

The man who put corporate culture on the map

Cultural Dimensions

 

 

 

Please review the cultural dimensions – Not only is it helpful to this unit, but will assist you on your final research project.

 

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CQ Scale – Personal Assessment

 

 

 

Take the personal assessment. Stop now and complete this questionnaire. What did you learn about yourself and where can you advance your cultural intelligence?

 

 

 

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Revise The Communication Planning Sheet. Then Write A Business Memo About The Case Study.

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Assignment is due by 7:00 PM Eastern Time (about 8 hours from now)

 

Task: Redo the attached Communication Strategy Worksheet (file name is “Redo Communication Worksheet) by applying the feedback that you deem helpful. The feedback that I decided was helpful is attached in the document called “Helpful Feedback.” Please read the attached file called “How To Use The Communication Worksheet” to see how to fill it out.  Then write a business memo that appropriately addresses the case problem (case problem is at the end of the assignment).

 

When writing, use the direct approach.

Direct Approach:

 

Most often we communicate in the direct approach in the business arena.  We state our purpose and then elaborate.  You can think of it as a top-down approach with the most important information located first.  Important too, is to know that direct does not mean edgy or rude; it is not permission to be abrupt in tone.

 

Case Problem:
In this case, you are Jack Stack, a regional sales manager for a national logistics company. You have 12 salespeople throughout your region reporting to him. Previously, the salespeople worked from various offices that housed other administrative functions and they receive secretarial and administrative support from these offices. To reduce costs, however, the company closed the local offices and consolidated the administrative functions at the corporate offices in Kansas City. Salespeople now work out of home-based offices. Consequently, they are responsible for producing their own correspondence without help from an administrative secretary.

As copies of internal memos and letters written by your salespeople cross your desk, you are shocked at the awkward wording and lack of clarity, not to mention the numerous grammar and punctuation errors. Email is even worse. You are concerned about the impact on your company’s image.
Last week, during a meeting of the local chapter of Sales and Marketing Executives, you heard a presentation by a communication consultant, Pamela Skidmore, who specializes in coaching salespeople on writing skills. She made a strong case on how organizations pay a price in wasted time, wasted effort and lost goodwill when writing isn’t as good as it could be. Her company, Write Stuff, offers classes and individual coaching.

You arranged a meeting with Pamela and gave her some writing samples from your salespeople. You were impressed with her critique of the writing and her thoughts on how to improve it. Her process calls for a 2-day workshop followed by individual coaching by phone and e-mail. Ms. Skidmore left you some brochures that explain the features and benefits of her services. You checked her references and her clients gave her rave reviews.

The fees for a workshop are substantial. For 12 salespeople, the program would cost $4,000 with a 90-day retainer of $2,000 for follow-up coaching. The cost includes a pre- and post-training evaluation. In addition, the cost of travel, hotel stays, meals and meeting rooms for the 2-day event could easily add up to another $6,000. Finally, the company would need to bear the cost of time away from the job for the salespeople.

This type of expense is not in your budget, but you think you can make a case for the workshop to your boss based on the benefits of the training. You also assume that other Regional VPs in the country are having a similar problem. Perhaps your region can serve as a pilot for the company for this type of training.

Communication Strategy Worksheet

Stage One: Planning a Message

 

 

Audience

 The audiences are 12 salespersons working with the organization. The audience is heterogeneous with regard to age, gender and cultural affiliations.
 

Purpose

  

The purpose of the presentation is to improve the writing skills of the salespersons in order to bolster the performance of the organization.
 

Focus

  

By learning good writing skills, the salespeople will improve their presentation skills. Pre- and post-training evaluations will further help to clarify roles and boost company image.
 

Emotion

 Conversational with a colorful passionate enthusiastic feel
 

Format

 Instruction will take place through face-to-face communication as well as follow-up activities through email.
 

Approach

 Direct approach that will entail telling the audience upfront about the intention and purpose of the workshop and training
 

Introduction

 Writing skills are fundamental requisites for effective performance of the organization. Lack of effective writing capabilities can lead to lost goodwill, wasted effort and wasted time, which can negatively affect the performance of the organization. By getting expert training on good writing skills, employees will gain a better understanding of how to improve their correspondence.
Body To improve the performance and image of the logistics company, it is fundamental for employees to sharpen their writing capabilities. Although the organization will incur some costs, the learning from the 2-day workshop will aid to improve long-term growth and cut costs.

Currently, salespeople in the organization have poor writing capabilities, and through mentorship and coaching from Write Stuff, employees will sharpen their skills and the organization will serve as an example to other companies in the industry with similar problems.

The workshop will also improve the communication and interpersonal skills of the salespeople, which is important for guaranteeing growth especially in the logistics industry.

 
 

Conclusion

  

With the various drawbacks that might arise because of poor writing skills, it is paramount for employees to receive training on how they can improve this vital aspect in business. This will help to improve the image of the company and subsequently increase sales.
 

Visuals

  

 

PowerPoint presentations detailing vital statistics of how companies can lose when employees do not have the required writing capacities will be used to illuminate the nature and extent of the problem.

Friendship And Peer Relations

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Peer Relations

WHY ARE PEER RELATIONSHIPS IMPORTANT?

Children who are unable to form close or satisfying relationships with peers should be of concern to parents and teachers alike. For one thing, these children miss out on opportunities to learn social skills that will be important throughout their lives. Especially critical are the skills needed to initiate and maintain social relationships and to resolve social conflicts, including communication, compromise, and tact. Children who lack ongoing peer involvements also may miss opportunities to build a sense of social self-confidence.

WHAT FACTORS CONTRIBUTE TO PEER RELATIONSHIP PROBLEMS?

As adults become aware of children with significant peer relationship problems, their concern should focus on why such problems are occurring. Fortunately, recent research has expanded insight into the following factors that contribute to children’s peer relationship problems.

Some children behave in an aggressive or disruptive manner and, hence, are rejected by peers. Other children withdraw from peer interactions and, in this way, limit their ability to gain acceptance and friendship.  Each type of ineffective social behavioral pattern can stem from different root causes. One possible cause is a lack of knowledge about effective interaction strategies. Another potential cause relates to the children’s emotional states.

Children who are anxious or fearful about peer relations are unlikely to behave in an effective manner. Academic problems also can contribute to ineffective social behavior. Children who cannot engage themselves with classroom work assignments often disrupt and irritate their peers.

Different-ness

Similarity fosters social acceptance. Conversely, children tend to encounter social rejection when they are perceived to be dissimilar from their peers. This may occur when children are of a different ethnic group or sex, are physically unattractive or handicapped, or are newcomers to their classrooms.

Family Problems

Family problems can have damaging effects on children’s peer relations. For example, children of divorcing parents may act out feelings of anger at school, eliciting rejection from peers in the process. Children with family problems, such as parental alcoholism, may be reluctant to bring friends home, avoiding close friendships as a result.

Reputation

Even if children overcome the circumstances that originally led them to experience peer problems, a reputation as a social outcast is extremely difficult to change.

HOW CAN CHILDREN OVERCOME PEER RELATIONSHIP PROBLEMS?

 

Children require help from adults if they are to overcome serious peer relationship problems. The most successful helping strategies are matched to the specific needs of the children involved.

Social Skills Training
Children whose behavior leads to social rejection often need to learn new interpersonal skills. In such cases, specific instruction on ways to make peer interactions mutually satisfying and productive can be effective in improving the children’s peer relations.

Intervention for Related Problems

When peer problems co-occur with serious academic problems, children may need intensive academic intervention if they are to become accepted members of their classroom groups. Similarly, children should be given school support for dealing with family problems, when possible, to minimize potential adverse effects on the children’s peer relations.

Non-threatening Social Experiences

Large groups can be threatening to children who lack self-confidence. Shy children may therefore benefit from opportunities to interact with peers in small groups. Parents can encourage shy children to invite classmates over one at a time for special activities. Or shy children can be encouraged to develop outside interests, like music or art, which will provide a natural basis for interacting with other children. Both of these approaches can boost shy children’s self-confidence and may help them start friendships in the process.

Cooperative Classroom Projects

Cooperative group projects can foster peer acceptance of children who are trying to improve their social reputations, including children who are seen as different by their classmates. Under this scheme, teachers assign interesting tasks to small work groups. The group members must work cooperatively to achieve the tasks. In so doing, they must interact with peers they would typically avoid and often discover new bases for liking them

 

 

 

 

 

 

 

 

1) In your own words (and opinion), why do you think peer relations are important?

 

2) Have you (or someone you’re close to) ever experienced trouble making friends or relating to your peers? Describe this experience. Did this situation have a lasting impact on you? How did you cope with the situation?

 

3) Have you ever disliked or prejudged someone, and then worked with that person in a group (a sport or group project are two examples) and realized you were wrong about him or her? What, do you think, caused your initial reaction?

 

4) What do you perceive to be most difficult in peer relations between young people? Now, think for a second about your own position in the social world. How did your unique perspective influence your answer?

 

5) Use this space to submit your first essay. Note that you must list two websites in addition to those we provided. Include brief summaries of the information housed at each. State the facts, then present your opinion about how we might resolve the problem discussed. Check your spelling and grammar and support your arguments with good, sound logic.

 

6) Use this space to submit your second essay. The same criteria apply to this one as to the first.

 

7) Do you fit into one of those catagories? If not, what do you feel your family is like?

 

8) Sociologists define family this way: family A relationship in which people live together with commitment, form an economic unit and care for any young, and consider their identity to be significantly attached to the group. family of orientation The family into which a person is born and in which early socialization usually takes place. family of procreation The family a person forms by having or adopting children. http://www.nelson.com/nelson/sociology/glossary2.html#f What do the sociological definitons of family and your understanding of the word have in common? How are they different? &nbs

 

9) Now we’d like to do something a little different. Over the next two days, you’re going to observe your own family schematics in action. Keep a journal recording: How many arguments occur Their causes (money? schoolwork? chores?) Their resolutions How many times terms of affection are exchanged How often you eat with your family Who prepared the food and who cleaned up What’s discussed at the table How often you talk to or see extended family members Anything else that you think sheds some light on how your family works! Once you’ve recorded all your data, write a summary of how these everyday interactions reflect your family’s patterns. What might these observations indicate? Has studying your family provided you with any new insights? Your summary should be no less than 250 words long. Include it and your log in the space below. If you find that you wrote

The Benefit Of An Expenditure

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1) Occurs when a “follower” receives the benefit of an expenditure made by a “leader” by imitating the leader’s behavior. A. free-rider problem B. The Principle of Comparative Advantage C. asymmetric information D. put option 2) Occurs when inaccurate information can falsely exist. A. moral hazard B. The Principle of Valuable Ideas C. free-rider problem D. adverse selection 3) Refers to situations wherein the agent can take unseen actions for personal benefit even though such actions are costly to the principal. A. adverse selection B. moral hazard C. zero-sum game D. The Behavioral Principle 4) The annual report refers to A. a report issued annually by managers to primarily convey information about select working capital ratios. B. the length of time remaining until an asset’s maturity. C. a report issued annually by a firm that includes, at a minimum, an income statement, a balance sheet, a statement of cash flows, and accompanying notes. D. the extent to which something can be sold for cash quickly and easily without loss of value. 5) Remaining maturity refers to: A. the length of an asset’s life when it is issued. B. a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. C. a report issued annually by a firm that includes, at a minimum, an income statement, a balance sheet, a statement of cash flows, and accompanying notes. D. the amount of time remaining until its maturity. 6) Generally accepted accounting principles (GAAP) refers to A. the length of an asset’s life when it is issued. B. a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. C. a report issued annually by a firm that includes, at a minimum, an income statement, a balance sheet, a statement of cash flows, and accompanying notes. D. the extent to which something can be sold for cash quickly and easily without loss of value. 7) Original maturity refers to: A. the length of an asset’s life when it is issued. B. a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. C. the price for which something could be bought or sold in a reasonable length of time, where “reasonable length of time” is defined in terms of the item’s liquidity. D. the net amount (net book value) for something shown in quarterly accounting statements. 8) The firm’s assets in the balance sheet refer to: A. the extent to which something can be sold for cash quickly and easily without loss of value. B. the statement of a firm’s financial position at one point in time, including its assets and the claims on those assets by creditors (liabilities) and owners (stockholders’ equity). C. the productive resources in the firm’s operations 9) Book value (or Net book value) refers to: A. the length of an asset’s life when it is issued. B. the statement of a firm’s financial position at one point in time, including its assets and the claims on those assets by creditors (liabilities) and owners (stockholders’ equity). C. the price for which something could be bought or sold in a reasonable length of time, where “reasonable length of time” is defined in terms of the item’s liquidity. D. the net amount shown in the accounting statements. 10) The return expected by equity investors is called the __________. A. market capitalization rate. B. dividend yield. C. average cost of capital. D. none of these 11) Assume that the par value of a bond is $1,000. Consider a bond where the coupon rate is 9% and the current yield is 10%. Which of the following statements is true? A. The market value of the bond is more than $1,000 B. The current yield was a lot less than 9% when the bond was first issued C. The current yield was a lot greater than 9% when the bond was first issued D. The market value of the bond is less than $1,000 12) Preferred stock payment obligations are typically __________. A. viewed like debt obligations. B. issued with a maturity date. C. valued as an annuity. D. none of these 13) Certain countries have restrictions. In practice, U.S. investors have NOT invested very much internationally. Possible factors include __________. A. lower transaction costs. B. less political risk. C. costs of converting currencies. D. all of these 14) Certain countries have restrictions. In practice, U.S. investors have NOT invested very much internationally. Possible factors include __________. A. non-listing of foreign securities on U.S. stock exchanges. B. foreign tax considerations. C. efficiency in converting currencies. D. all of these 15) For diversified investors, the proper measure of a stock’s risk is __________. A. its nonsystematic risk. B. its nondiversifiable risk. C. its specific risk. D. its standard deviation. 16) One problem with using negative values for w1 (the proportion invested in the riskless asset) to represent a borrowed amount is that the implied borrowing rate of interest is the same as __________. A. the lending rate of interest B. the prime rate of interest C. the current rate of interest D. the nominal rate of interest 17) Which of these investments would you expect to have the highest rate of return for the next 20 years? A. intermediate-term U.S. government bonds B. U.S. Treasury bills C. long-term corporate bonds D. anybody’s guess 18) According to the Principle of Risk-Return Trade-Off, investors require a higher return to compensate for __________. A. less risk B. lack of diversification C. diversification D. greater risk 19) Suppose the Ruskin Oil Corporation has $150,000 for both its book balance and its bank balance. It takes 4 days for a check to clear. If Ruskin writes a $3,000 check, which of the following statements is false? A. Ruskin’s available balance is $150,000, its book balance is $147,000, and its disbursement float is $3,000. B. If Ruskin writes a $3,000 check that takes 4 days to clear, during this period, $3,000 of disbursement float has been created. C. Ruskin’s book balance declines by the amount of the check, from $150,000 to $147,000, but the bank balance is unchanged until the check clears. D. After the check clears, the book and bank balances will both be $147,000 and there is no more disbursement float. 20) Stony Products has a payables turnover of six times. What is Stony’s payables deferral period (PDP)? A. about 30.42 days B. about 56.50 days C. about 60.83 days D. none of these The payables deferral period is the average length of time between the purchase of the materials and labor that go into inventory and the payment of cash for these materials and labor. We have: PDP = where PTO is the payables turnover and is equal to: where CS is cost of sales, SGA is selling, general, and administrative expenses, AP is account payables, and WBT is wages, benefits, and payroll taxes payable. We have: PDP = = = 60.83333 days ≈ 60.83 days. 21) Stony Products has a receivables turnover of ten times. What is Stony’s receivables collection period (RCP)? A. about 35.42 days B. about 36.50 days C. about 40.83 days D. none of these The receivables collection period (RCP), or days’ sales outstanding (DSO), is the average number of days that it takes to collect on accounts receivable. We have: RCP = where RTO is the receivables turnover and is equal to where AR is account receivables. We have: RCP = = = 36.5 days.] 22) __________ says to calculate the incremental after-tax cash flows connected with working capital decisions. A. The Principle of Time Value of Money B. The Signaling Principle C. The Principle of Incremental Benefits D. The Options Principle 23) __________ says to compare the benefits and costs of alternative uses and sources of money using after-tax APYs. A. The Principle of Incremental Benefits B. The Principle of Time Value of Money C. The Signaling Principle D. The Options Principle 24) Bank term loans represent __________. A. long-term loans that looks like short-term debt B. loans for specified amounts that require borrowers to repay them according to specified schedules C. the pledge of receivables D. all of these 25) Which (if any) of the below statements is false? A. Higher collection costs reduce the NPV and but cannot cause it to be negative. B. A customer who is likely to make late payments is also more likely to default and to require extra collection efforts. C. Credit bureau reports give information about any legal judgments against the firm. D. none of these 26) Credit-policy decisions involve all aspects of receivables management. The decision does NOT include which of the following? A. monitoring receivables and avoiding actions for slow payment B. setting evaluation methods and credit standards C. the choice of credit terms D. controlling and administering the firm’s credit functions 27) Most credit sales are made on an open account basis, which means __________. A. that customers cannot simply purchase what they want. B. that customers simply purchase what they want. C. that suppliers dictate the terms of the purchase. D. that suppliers cannot dictate the terms of the purchase. 28) An all-equity-financed firm would __________. A. not pay corporate income taxes because it would have no interest expense. B. not pay any income taxes because interest would exactly offset its taxable income. C. pay corporate income taxes because it would have interest expense. D. pay corporate income taxes if its taxable income is positive. 29) A profitable firm would __________. A. pay corporate income taxes because it would have interest expense. B. pay corporate income taxes because it would not have interest expense. C. pay corporate income taxes if it had a positive taxable income. D. none of these 30) Whenever a firm splits itself into separate units, with each unit having limited liability with respect to its financing, the capital structure of each unit becomes __________. A. an irrelevant consideration for a cost of capital. B. the relevant consideration for a cost of capital. C. important only if the firm faces financial distress. D. none of these 31) There are two important tax considerations for a capital budgeting project. These include which (if any) of the following? A. It is indeed cash flow that’s irrelevant. B. The standard cash flow estimation does not explicitly identify the financing costs. C. The Principle of Incremental Benefits reminds us that it is the incremental cash flow that’s relevant. D. none of these 32) Projects can be classified into various categories. These include: A. maintenance expenditures projects that involve replacing worn-out or damaged equipment. B. cost savings and revenue enhancement projects that include improvements in production technology to realize cost savings and marketing campaigns to achieve revenue enhancement. C. capacity expansion projects that involve expanding the current business by adding new equipment and facilities. D. all of these 33) Ideas for capital budgeting projects come from all levels within an organization. The bottom up process results in ideas percolating through the organization. A. sideways B. downward C. upward D. any way 34) In practice, the __________ rule is preferred. A. IRR B. NPV C. PI D. Payback 35) Whenever projects are both independent and conventional, then the IRR and NPV methods agree. Which of the following statements is true? A. A mutually exclusive project is one that can be chosen independently of other projects. B. When undertaking one project prevents investing in another project, and vice versa, the projects are said to have a positive payback. C. A conventional project is a project with an initial cash outflow that is followed by one or more expected future cash inflows. D. all of these

 

 

 

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