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IB 5-8
5-8
59
Business
Undergraduate 2
05/01/2009

Additional Business Flashcards

 


 

Cards

Term
Cross culture risk
Definition
A situation or event where a cultural miscommunication puts some human value at stake.
Term
Culture
Definition
is learned, shared, and enduring orientation patterns in a society. People demonstrate their culture through values, ideas, attitudes, behaviors, and symbols.
Term
Ethnocentric orientation
Definition
Using our own culture as the standard for judging other cultures
Term
Polycentric orientation
Definition
A host country mindset where the manager develops a greater affinity with the country in which she or he conducts business.
Term
Geocentric orientation
Definition
A global mindset where the manager is able to understand a business or market without regard to country boundaries
Term
Socialization
Definition
The process of learning the rules and behavioral patterns appropriate to ones given society.
Term
Acculturation
Definition
The process of adjusting and adapting to a culture other than one’s own.
Term
Cultural Metaphor
Definition
A distinctive tradition or institution strongly associated with a particular society
Term
Stereotype
Definition
Generalization about a group of people that may or may not be factual, often overlooking real, deeper differences.
Term
Idiom
Definition
An expression whose symbolic meaning is different from its literal meaning.
Term
Low-context culture
Definition
– A culture that relies on elaborate verbal explanations, putting much emphasis on spoken words. Northern Europe and North America.
Term
High-context culture
Definition
A culture that emphasizes nonverbal messages and views communication as a means to promote smooth, harmonious relationships. Japan china.
Term
Individualism verses collectivism
Definition
Describes whether a person functions primarily as an individual or within a group.
Term
Power distance
Definition
Describes how a society deals with the inequalities in power that exist among people.
Term
Uncertainty avoidance
Definition
The extent to which people can tolerate risk and uncertainty in their lives.
Term
Masculinity verses femininity
Definition
– 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.
Term
Long term v.s. short term orientation
Definition
Denotes the degree to which people and organizations defer gratification to achieve long term success.
Term
Monochronic
Definition
A rigid orientation to time, in which the individual is focused on schedules, punctuality, and time as a resource.
Term
Polychronic
Definition
A flexible, nonlinear orientation to time, in which the individual takes a long-term perspective and is capable of attending to multiple tasks simultaneously.
Term
Self reference criterion
Definition
The tendency to view other cultures through the lens of one’s own culture.
Term
Critical Incident analysis
Definition
An analytical method for analyzing awkward situations in cross culture interactions by developing empathy for other points of view.
Term
Tolerance for Ambiguity
Definition
the ability to tolerate uncertainty and apparent lack of clarity in the thinking and actions of others.
Term
Hofstede Research on National Culture
Definition
– He discovered the 4 independent dimensions which were… Individualism vs. collectivism. Power distance. Uncertainty avoidance, masculinity vs femininity. Long term vs short term orientation.
Term
Deal verses relationship orientation
Definition
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.
Term
chap 6
Definition
Term
Country risk(political)
Definition
– Exposure to potential loss or adverse effects on company operations and profitability. Caused by developments in a country’s political, and or legal environments.
Term
Intellectual Property
Definition
Ideas or works created by people or firms, such as patents, trademarks, and copy rights.
Term
Intellectual Property rights
Definition
The legal claim through which the proprietary assets of firms and individuals are protected from unauthorized use by other parties.
Term
Political system
Definition
A set of formal institutions that constitute a government
Term
Legal system
Definition
A system for interpreting and enforcing laws.
Term
Command economy
Definition
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.
Term
Market economy
Definition
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.
Term
Mixed Economy
Definition
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….
Term
Rule of law
Definition
The existence of a legal system where rules are clear, publicly disclosed, fairly enforced, and widely respected by individuals, organizations, and the government.
Term
Extraterritoriality
Definition
Application of home-country laws to persons or conduct outside of national borders.
Term
Transparency
Definition
The degree to which firms regularly reveal substantial information about their financial condition and accounting practices.
Term
Corporate social responsibility
Definition
Operating a business in a manner that meets or exceeds the ethical, legal, commercial, and public expectations of stakeholders(customers, shareholders, employees, and communities.
Term
Chap7
Definition
Term
Protectionism
Definition
National economic policies designed to restrict free trade and protect domestic industries from foreign competition.
Term
Tariff
Definition
A tax imposed on imported products, effectively increasing the cost of acquisition for the customer.
Term
NonTariff trade barrier
Definition
A government policy, regulation, or procedure that impedes trade through means other than explicit tariffs.
Term
Customs
Definition
Checkpoints at the ports of entry in each country where government officials inspect imported products and levy tariffs.
Term
Quota
Definition
A quantitative restriction placed on imports of a specific product over a specific period of time.
Term
Export control
Definition
A government measure intended to manage or prevent the export of certain products or trade with certain countries.
Term
Currency control
Definition
– Restrictions on the outflow of hard currencies from country, or the inflow of foreign currencies.
Term
Subsidy
Definition
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.
Term
Countervailing duty
Definition
A duty imposed on products imported in to a country to offset subsidies given to producers or exporters in the exporting country.
Term
Dumping
Definition
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.
Term
Antidumping duty
Definition
A tax imposed on products deemed to be dumped and causing injury to producers of competing products in the importing country.
Term
Investment incentive
Definition
Transfer payment or tax concession made directly to foreign firms to entice them to invest in the country.
Term
Foreign trade zone
Definition
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.
Term
Maquiladoras
Definition
Export-assembly plants in northern Mexico along the US border that produce components and typically finished products destined for the US.
Term
Regional economic integration
Definition
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.
Term
Regional economic integration bloc
Definition
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.
Term
Free trade agreement
Definition
A formal arrangement between two or more countries to reduce or eliminate tariffs, quotas, and barriers to trade in products and services.
Term
Free trade Area
Definition
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.
Term
Customs Union
Definition
A stage of regional integration in which the member countries agree to adopt common tariff and non tariff barriers on imports from nonmember countries.
Term
Common Market
Definition
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.
Term
Economic Union
Definition
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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