International Business Test 2

when unit costs reductions associated with a large scale of output happens, it is called...economies of scalewhich of the following is NOT one of the attributes of Porter's Diamond theory?leadershipunderstanding of how cultural differences across and within nations can affect the way business is practiced.Cross-cultural literacysystem of norms and values that are shared among a group of people and when taken together constitute a design for living.Cultureabstract ideas about what a group believes to be good, right, and acceptable.valuessocial rules and guidelines that prescribe appropriate behavior in particular situationsnormsgroup of people sharing a common set of values and norms.societyroutine conversations of everyday life. Actions of little moral significance.folkwaysnorms that are more widely observed, have greater moral significance than other norms, and are control to the functioning of society and to its social life.moresrefers to its basic social organization, and the social organization is both emergent from and determinant of the behaviors of individuals.social structurean association of two or more people who have a shared sense of identity and who interact with each other in structured ways on the basis of of a common set of expectations about each others behavior.grouphierarchical basis of which societies are are placed into social categories.social stratathe extent to which individuals can move out of the strata into which they are bornsocial mobilityclosed system of stratification in which social position is determined by the family into which a which a person is born, and change in that position is usually not possible during one's lifetime,.caste systemless rigid form of social stratification in which social mobility is more possible.class systemcondition by which people tend to perceive themselves in in terms of their class background and this shapes their relationships with members of other classes.class consciousnesssystem of shared beliefs and rituals that are concerned with the realm of the sacred.religionset of moral principles, or values, that are used to guide and shape behavior.ethical systemsfocused on how a society deals with the fact that people are unequal in physical and intellectual capabilities.power distancefocused on the relationship between and individual and his/her fellows.individualism versus collectivismmeasures the extent to which different cultures socialized their members into accepting ambiguous situations and tolerating uncertainty.uncertainty avoidancelooks at the relationships between gender and work roles.masculinity versus femininityrefers to the extent to which a culture programs its citizens to accept delayed gratification of their material, social, and emotional needs.long-term versus short-term orientationbelief in the superiority of ones own ethnic group or culture.ethnocentrismthe absence of barriers to the free flow of goods and services between countriesfree tradethe observed pattern of trade in the world economy may be due in part to the ability of firms in a given market to capture first mover advantagesnew trade theoryan economic philosophy advocating that countries should simultaneously encourage exports and discourage importsmercantislisma situation in which an economic gain by one country results in an economic loss by anotherzero-sum gamea country has an absolute advantage in the production of a product when it is more efficient that any other country at producing itabsolute advantagethe units of resources required to produce a good are assumed to remain constant no matter where one is on a country's production possibility frontierconstant returns to specializationa country's endowment with resources such as land, labor, and captialfactor endowmentscost advantages associated with large scale productioneconomies of scalein the balance of payments, records transactions involving the export or import of goods and servicescurrent accountthe current account o when a country imports more goods, services, and income than it exportscurrent account deficitthe current account when a country exports more goods, services, and income than it importscurrent account surplusrecords transactions involving one time changes in the sock of assetscapital accounttransactions that involve the purchase or sale of assetsfinancial accountthe belief that people should be treated as ends and never purely as means to the ends of otherskantian ethicstwentieth century theories that recognize that humans have fundamental rights and privileges that transcend national boundaries and culturesrights theoriesa united nations document that lays down the basic principles of human rights that should be adhered touniversal declaration of human rightsa distribution of goods and services that is considered fair and equitablejust distributiona business' formal statement of ethical prioritiescode of ethicsrefers to the idea that business people should consider the social consequences of economic actions when making business decisions and that there should be a presumption in favor of decision that have both good economic and social consequencescorporate social responsibilitystrategies that not only help the multinational firm make good profits, but that do so without harming the environment, while simultaneously ensuring that the corporation acts in a socially responsible manner with regard to its multiple stakeholderssustainable strategiesaccepted principles of right or wrong governing the conduct of businesspeoplebusiness ethicsstrategy that does not violate these accepted principles (of business ethics)ethical strategyact outlawed the paying of bribes to foreign officials to gain businessForeign Corrupt Practices Act (FCPA)into effect in 1999, it made the bribing of foreign public officials a criminal offenseConvention on Combating Bribery of Foreign Public Officials in International Business Transactionssituations in which none of the available alternatives seems ethically acceptableEthical dilemmavalues and norms that are shared among employees of an organizationorganizational culturethe belief that ethics are nothing more than a reflection of a culture and that a firm should adopt the ethics of the the culture in which it is operatingcultural relativismclaims that multinational's home-country standards of ethics are the appropriate ones for companies to follow in foreign countriesrighteous moralistasserts that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either.naive immoralistmoral worth of actions or practices is determined by their consequences.utilitarian approach to ethics

International Business Test 2

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