Final answer:
The most likely social institution being considered by a multinational manager when determining holidays for employees based on local festivals is religion, as religious institutions often underpin holiday observances with social and cultural importance. b.) Economic system
Step-by-step explanation:
When a multinational manager carefully considers the list of festivals that are celebrated in a country to allow for holidays for his/her employees, the social institution most likely being considered here is religion. Festivals and holidays often have religious roots or cultural significance that warrants recognition in the workplace. This is because many religious institutions facilitate celebrations and ceremonies that become part of a society's cultural fabric and commonly observed holidays. These institutions thus play a critical role in shaping social norms, including workplace practices such as holiday allowances.
While other institutions like the economic system, education, and industrialization indeed influence how societies function, they do not directly dictate religious festivals and holidays. The importance of the religious institution lies in its ability to bring people together for common observance and celebration, which in turn influences various aspects of life, including worker availability and productivity, necessitating businesses to adjust accordingly.
It's essential for managers operating in multinational environments to respect and understand these cultural and religious practices, as they can profoundly impact employee satisfaction and retention, as well as the company’s reputation within a specific country.