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| A situation or event where a cultural miscommunication puts some human value at stake. |
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| is learned, shared, and enduring orientation patterns in a society. People demonstrate their culture through values, ideas, attitudes, behaviors, and symbols. |
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| Using our own culture as the standard for judging other cultures |
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| A host country mindset where the manager develops a greater affinity with the country in which she or he conducts business. |
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| A global mindset where the manager is able to understand a business or market without regard to country boundaries |
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| The process of learning the rules and behavioral patterns appropriate to ones given society. |
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| The process of adjusting and adapting to a culture other than one’s own. |
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| A distinctive tradition or institution strongly associated with a particular society |
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| Generalization about a group of people that may or may not be factual, often overlooking real, deeper differences. |
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| An expression whose symbolic meaning is different from its literal meaning. |
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| – A culture that relies on elaborate verbal explanations, putting much emphasis on spoken words. Northern Europe and North America. |
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| A culture that emphasizes nonverbal messages and views communication as a means to promote smooth, harmonious relationships. Japan china. |
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| Individualism verses collectivism |
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| Describes whether a person functions primarily as an individual or within a group. |
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| Describes how a society deals with the inequalities in power that exist among people. |
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| The extent to which people can tolerate risk and uncertainty in their lives. |
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| Masculinity verses femininity |
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| – Refers to a society’s orientation, based on traditional male and female values. Masculine cultures tend to value competitiveness, assertiveness, ambition, and the accumulation of wealth. Examples, Australia, japan and somewhat the US. Feminine cultures emphasize nurturing roles, interdependence among people, and taking care of less fortunate people. Ex countries like Scandinavia. |
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| Long term v.s. short term orientation |
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| Denotes the degree to which people and organizations defer gratification to achieve long term success. |
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| A rigid orientation to time, in which the individual is focused on schedules, punctuality, and time as a resource. |
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| A flexible, nonlinear orientation to time, in which the individual takes a long-term perspective and is capable of attending to multiple tasks simultaneously. |
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| The tendency to view other cultures through the lens of one’s own culture. |
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| Critical Incident analysis |
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| An analytical method for analyzing awkward situations in cross culture interactions by developing empathy for other points of view. |
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| the ability to tolerate uncertainty and apparent lack of clarity in the thinking and actions of others. |
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| Hofstede Research on National Culture |
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| – He discovered the 4 independent dimensions which were… Individualism vs. collectivism. Power distance. Uncertainty avoidance, masculinity vs femininity. Long term vs short term orientation. |
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| Deal verses relationship orientation |
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| in deal oriented cultures, managers focus on the task at hand and want to get down to business. They seal agreements with a legalistic contract. Examples are Australia, north Europe and north America. In relationship orientation cultures, managers put more value on affiliations with people, based on trust. Examples are china japan and Latin America. |
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| – Exposure to potential loss or adverse effects on company operations and profitability. Caused by developments in a country’s political, and or legal environments. |
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| Ideas or works created by people or firms, such as patents, trademarks, and copy rights. |
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| Intellectual Property rights |
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| The legal claim through which the proprietary assets of firms and individuals are protected from unauthorized use by other parties. |
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| A set of formal institutions that constitute a government |
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| A system for interpreting and enforcing laws. |
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| The state is responsible for making all decisions, with respect to what goods and services the country produces, they quantity of their production, the prices at which they are sold, and the manner of their distribution. The state owns all productive wealth, land and capital. |
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| Decision making on levels of production, consumption, investment, and savings results from the interaction of supply and demand. Decisions are left to the firm. Gov intervention is limited. |
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| A mixed economy exhibits the features of both a market economy and a command economy. It combines state intervention and market mec for achieving production and distribution. Most industries are under private ownership. Entrepreneurs freely establish, own, and operate corporations. However the government also controls certain functions, such as pension programs, labor regulation min wage and so on…. |
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| The existence of a legal system where rules are clear, publicly disclosed, fairly enforced, and widely respected by individuals, organizations, and the government. |
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| Application of home-country laws to persons or conduct outside of national borders. |
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| The degree to which firms regularly reveal substantial information about their financial condition and accounting practices. |
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| Corporate social responsibility |
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| Operating a business in a manner that meets or exceeds the ethical, legal, commercial, and public expectations of stakeholders(customers, shareholders, employees, and communities. |
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| National economic policies designed to restrict free trade and protect domestic industries from foreign competition. |
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| A tax imposed on imported products, effectively increasing the cost of acquisition for the customer. |
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| A government policy, regulation, or procedure that impedes trade through means other than explicit tariffs. |
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| Checkpoints at the ports of entry in each country where government officials inspect imported products and levy tariffs. |
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| A quantitative restriction placed on imports of a specific product over a specific period of time. |
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| A government measure intended to manage or prevent the export of certain products or trade with certain countries. |
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| – Restrictions on the outflow of hard currencies from country, or the inflow of foreign currencies. |
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| Monetary or other resources a government grants to a firm or group of firms, usually intended to ensure their survival by facilitating the production and marketing of products at reduced prices or to encourage exports. |
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| A duty imposed on products imported in to a country to offset subsidies given to producers or exporters in the exporting country. |
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| Pricing exported products at less than their normal value, generally for less than their price in the domestic or third country markets, or at less than production cost. |
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| A tax imposed on products deemed to be dumped and causing injury to producers of competing products in the importing country. |
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| Transfer payment or tax concession made directly to foreign firms to entice them to invest in the country. |
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| FTZ) – An area within a country that receives imported goods for assembly or other processing, and re-export. For customs purposes the FTZ is treated as if it is outside the country’s borders. |
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| Export-assembly plants in northern Mexico along the US border that produce components and typically finished products destined for the US. |
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| Regional economic integration |
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| The growing economic interdependence that results when two or more countries within a geographic region form an alliance aimed at reducing barriers to trade and investment. |
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| Regional economic integration bloc |
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| A geographic area consisting of two or more countries that have agreed to pursue economic integration by reducing barriers to the cross border flow of products, services, capital, and in more advance states, labor. |
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| A formal arrangement between two or more countries to reduce or eliminate tariffs, quotas, and barriers to trade in products and services. |
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| A stage of regional integration in which member countries agree to eliminate tariffs and other barriers to trade in products and services within the bloc. |
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| A stage of regional integration in which the member countries agree to adopt common tariff and non tariff barriers on imports from nonmember countries. |
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| A stage of regional integration in which trade barriers are reduced or removed, common external barriers are established, and products, services, and factors of production are allowed to move freely among the member countries. |
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| A state of regional integration in which member countries enjoy all the advantages of early stages, but also strive to have common fiscal and monetary policies. |
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