Study sets, textbooks, questions
Upgrade to remove ads
Terms in this set (61)
A more integrated and interdependent world economy
Percentage share of the total FDI stock by the most developed countries has changed since the 1980
Tastes and preferences of different nations beginning to converge thanks to historically distinct markets becoming more inter-connected
Primary conveyor of culture
When companies invest resources outside of their home country.
Often cited as the major cause of today's lower trade barriers on markets and production.
Barriers to international trade
Contributed to the Great Depression.
More than 90% of all phone calls, web traffic and investment is local.
In the past decade, this country has not seen its world output as a % of total output fall.
Global economy has production activities in a multiple countries.
A developing trend in international business has been the rise of these petite global companies.
The author of the Globalization of Markets.
- known for entering the word "globalization" into everyday language.
Decrease (excluding Carbon Dioxide)
As the income/capita increases in developing countries, how are pollution levels affected.
Supporters of Globalization cite this term, meaning a country, group or individual carrying out a particular economic activity more efficiently than its competition.
The term used to describe a tendency to trade and produce goods locally and avoid transacting with distant partners.
North American Free Trade Agreement (NAFTA)
North American firms benefited greatly from this legislation. However, the history of mismanagement in Latin America may de-couple the initial trends from this agreement.
The political, economic, and legal systems of a country are interdependent.
Size of Economy
Likely Economic Growth
Lack of Infrastructure
Political: Social Unrest/Anti-Business Trends
Economic: Economic Mismanagement
Legal: Failure to Safeguard Property Rights
A political system that stresses the primacy of collective goals over individual goals.
A philosophy that an individual should have freedom in his or her economic and political pursuits.
A political system in which government is by the people, exercised either directly or through elected representatives.
A form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties.
An economic system in which the interaction of supply and demand determines that quantity in which goods and services are produced.
An economic system where the allocation of resources, including determination of what goods and services should be produced, and in what quantity is planned by the government.
System of rules that regulate behavior and the processes by which the laws of a country are enforced and through which redress of grievances is obtained.
A system of law based on tradition, precedent, and custom; when law courts interpret common law, they do so with regard to these characteristics.
Civil Law System
A system of law based on a very detailed set of written laws and codes.
Government by divine guidance or by officials who are regarded as divinely guided.
Legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.
Products of the mind, ideas (E.g., books, music, computer software, designs); intellectual property can be protected by patents copyrights and trademarks.
Why the world isn't flat.
Of the telephone-calling minutes placed in the world last year, only ___% were cross-border calls.
1% - 2%
When it comes to online news, the average person does just ___% - ___% of their reading on foreign news sites.
Roughly ___% of your Facebook friends are from another country.
A system of values and norms that are shared among a group of people and that when taken together constitute for living.
Provide the context within which a society's norms are established and justified.
The social rules that govern the actions of people toward one another.
Group of people who share a common set of values and norms.
Routine conventions of everyday life.
Norms central to society and its social life.
Understanding how the culture of a country affects the way business is practiced.
Shared beliefs concerned with "the sacred".
Moral principles/values guide and shape behavior. (Most are the product of religions)
Society's ability to deal with inequalities
Individualism versus Collectivism
Theory focusing on the relationship between the individual and his or her fellows
Accepting of ambiguous situations and tolerating uncertainty
Masculinity versus Femininity
Relationship between gender and work roles
Culture is not a constant; it evolves over time
Levitt Argument (1983)
Technology: reduce life's burdens; increase discretionary time and money
System of shared assumptions, values, and beliefs, which governs how people behave in organizations.
Personal survival & self-preservation. Reliance on reason and reasoning (often mere rationalization).
Primary concern is other people and may even sacrifice self
Focus on the circumstantial specifics & potential outcomes. May sacrifice important principles to produce certain results.
Principles are foremost concern. Life governed by regulations & values. Duties are absolute.
Conflicts of interest
Bribes, Kickbacks, Influence
Human Resource Issues
Discrimination, Harassment, Sexual, Otherwise
Customer Confidence Issues
Confidentiality, Product Safety, Truth in Advertising, Fiduciary Responsibilities.
Maximize benefits to society and minimize harms
Person entitled to be treated a certain way (e.g., right to life, safety)
Veil of ignorance
Sets found in the same folder
International Business Vocabulary
Sets with similar terms
BUS 405 Exam 1
International Business Exam One
Other sets by this creator
Negotiation for test
International Business Law