I think it should be obviously clear that all cultures have their weak and strong points, and sometimes cultures should change and fix these problems. This is true for corporate cultures and cultures of whole nations.
How is the second idea different from "racism"? The "fix" part?
If we believe (and it's a legitimate belief) that "all cultures have their weak and strong points", then we can also find that a culture (A) has more weak points than another (B).
If A's weak points are far more, or are in the more important aspects of life, then, can't we say that "A is inherently inferior to B"? In this case, I wouldn't call it racism, but a fair assesment.
I'd rather stick with the old definition of racism: "the belief that some people (members of an ethnic group) are genetically inferior to others".