Flashcard Terms (C's) - Part 2

Question 1

Crowdsourcing

Answer 1

Enlisting the help of a large number of people, often via the internet

Question 2

Cultural ability

Answer 2

the ability to understand multiple local contexts and work within them to obtain consistent business results.

Question 3

Cultural Dimensions

Answer 3

A framework for cross-cultural communication, developed by Geert Hofstede that shows the effects of a society’s culture on the values of its members, and how these values relate to behavior.

Question 4

Cultural Norms

Answer 4

Shared, sanctioned, and integrated systems of beliefs and practices that are passed down through generations and characterize a cultural group

Question 4

Culture

Answer 4

The beliefs, values, mind-sets, and practices of a group of people

Question 5

Currency Futures Contract

Answer 5

Contracts that require the exchange of a specific amount of currency at a specific future date and at a specific exchange rate

Question 6

Currency Options Contracts

Answer 6

The option or the right to exchange a specific amount of currency on a specific future date and at a specific agreed-on rate

Question 7

Currency Risks

Answer 7

The risk of a change in the exchange rate that will have an adverse effect.

Question 8

Currency Swap Contract

Answer 8

A contract where 2 firms agree to swap currencies in the future at a previously agreed exchange rate.

Question 9

Currency Translation

Answer 9

The act of translating currencies on a financial statement to another currency.