Chapter 5: Global Management and Cultural Diversity Flashcards
Asia Pacific Economic Cooperation
A forum that links 21 countries to promote free trade and investment in the Pacific region.
Child Labour
The employment of children for work otherwise done by adults.
Comparative Management
The study of how management practices differ among countries and cultures.
Conflict Minerals
Minerals sourced in areas of armed conflict, particularly the Democratic Republic of Congo and surrounding region, whose sale finances armed groups that perpetuate violence.
Corruption
The use of illegal practices to further one’s business interests.
Corruption of Foreign Public Officials Act
A federal act that makes it illegal for Canadian firms and their representatives to engage in corrupt practices overseas.
Cultural Intelligence
The ability to adapt, adjust, and work well across cultures.
Culture
A shared set of beliefs, values, and patterns of behaviour common to a group of people.
Culture Shock
The confusion and discomfort a person experiences when in an unfamiliar culture.
Ecological Fallacy
The assumption that a generalized cultural value applies equally well to all members of the culture.
Ethnocentrism
The tendency to consider one’s culture superior to others.
Euro
The common currency of many members of the European Union.
European Union
A political and economic alliance of European countries.
Exporting
The selling of local products abroad to foreign customers.
Foreign Subsidiary
A local operation completely owned by a foreign firm.
