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The purpose of this paper is to develop a value measurement tool based on an indigenous theory of cultural values. Moreover, this instrument was tested in a multi‐cultural sample from Peru.

A cultural values framework that traces its origins to Peru is employed as the conceptual foundation for a new instrument designed to measure values that are inherently linked to economic and social development. The survey is tested across diverse subcultures within Peru through 288 respondents.

The empirical results lend significant support to three hypotheses and a number of differences related to how certain values may be perceived in varying subcultural communities were identified. Perhaps the most striking finding is that Peruvians from different subcultural groups vary in their perceptions of which values are key to successful assimilation into the local indigenous communities as well as the values necessary for achieving success in international business.

By developing and testing a developmental values instrument that was based on developing nation constructs we have created an opportunity for replication in other developing nations as well as industrialized economies.

A number of implications related to managing in Andean America are plausible. These results can assist multi‐national firms that elect to operate in the Andes to evaluate their marketing and sales approaches, as well as human resource management policies. In addition firms that seek new growth opportunities within Andean America may need to incorporate predetermined values that are germane to their potential strategic maneuvers in the region.

This paper is exploratory in nature and facilitates a deeper level of analysis related to subcultural values in developing nations.