MIDTERM Flashcards
Customary beliefs l
-system of values
Culture
Various beliefs behaviors languages practices and expressions
Cultural differences
Group of people participating in continuous social connection
Society
Shared national identity physical borders and a single government
Nation state
Rule or standard of behavior shared by members of a social group
Norms
Beliefs and principles that you believe
Values
Simple objects such as tool or ornament showing human workman
Artifacts
Something that stands for represents or suggest another
Symbols
Structured system of communication that consist of grammar and vocabulary
Language
It is essential to the success of any business venture but it is particularly critical when there is real risk of your message getting lost in translation
Communication
Attitudes toward management roles and also vary widely between cultures.
Organizational hierarchy
Different approaches to professional communication
Workplace etiquette
This could make it easier for business people to recognize cultural differences
Cultural awareness
To believe in cultural pluralism
Develop a sense of cultural heterogeneity
One of the most important characteristics in international relationships is flexibility
Be flexible but retain your own identity
Successful business deal should benefit both sides
Believe in win win game
Business people should prioritize the goal of the company
Task and purpose related focus
Manage their firm well in spite of their differences
Create cultural synergy
Refers to how openly a society of culture accepts or does not accept differences
Power distance
Refers to People’s tendency to take care of themselves
Individualism
Masculine or feminine cultures
Masculinity versus femininity
How much uncertainty of society or culture is willing to accept
Uncertainty avoidance
Various persistence perseverance thriftiness and having a sense of
Long term orientation
Values tradition only to the extent of fulfilling social obligations or providing gifts or favors
Short term orientation
Transform due to massive adoption of cultural traits from the another society
Cultural change
Priority of one’s own culture
Ethnocentric behavior
Firms that are ill informed about practices of another culture are unlikely to succeed in the culture
Cross cultural literacy
Reorient our mindset and most importantly our
Cross cultural understanding
Constitute a global code of conduct
-establishes ethical standards for employees and businesses
International business ethics
Principles of right or wrong
-branch of philosophy that involves systemizing defending and recommending concepts of right and wrong conduct
Ethics
Accepted principles of right or wrong governing the conduct of business people
Business ethics
Strategy or course of action that does not violate or break this accepted principles
Ethical strategy
Situation or topics that raise questions about what is morally right or wrong
Ethical issues
Occurs when a person is faced in the situation when there are two or more morally acceptable options
Ethical dilemma
MOST COMMON ETHICAL ISSUES IN BUSINESS
Employment practices
Human rights
Environmental pollution
Business people should take social consequences of economic action
More obligation or social responsibility
Rooted in poor personal ethics
Unethical behavior
Generally accepted principles of right and wrong leading the conduct of individuals
Personal ethics
Business people may behave and ethically because they fail to ask the relevant question
Decision making process
An ethical behavior may exist in firm with an organization culture the values and standards that are shared among employees of an organization
Organizational culture
Pressure from the parent company to meet performance goals
Unrealistic performance expectation
People who work for or who own the business
International stakeholders
Individuals or groups who have some claim and firm
External stakeholders
Guidelines for ethical decision making in a multinational enter
Straw men approaches
Suggest that the only social responsibility of business is to increase profits
The friedman doctrine
When in rome do what as romans do
Cultural relativism
Multinational home country standards of ethics should be followed in foreign countries
The righteous moralist
Asserts that if a firm manager of a multinational seas that firm
The naive immoralist
Approaches to ethics called that the moral worth of actions
Utilitarian
Based on the philosophy of immanuel kant
Kantian ethics
Fundamental rights and privileges
-minimum level of morally acceptable behavior
Rights Theories
Adjust distribution is considered fair and equitable
Justice theories
Make sure that a business behaves in a ethical matter
Ethics officers
Business people should consider the social consequences of economic actions
Corporate social responsibility
Exchange involving a good or service
International trade
Comparative advantage arise from differences in national factor endowments
2 PERSONS
Eli HECKSHER and Bertil Ohlion
Swedish economist
-concept of train industry trade
Stefan linders theory
Focused on MNC’s and their efforts to gain a competitive advantage
Global Strategic rivalry theory
Some nations are more competitive in certain industries
Porter’s national competitive advantage theory
Empower a nation via wealth
Views trade as ZERO SUM GAME
Mercantilism
He was the against mercantilism
Adam smith
Product when it is more efficient than any other country in tradition
-produce more of a good or service than a competitor
Absolute advantage
Ability to produce a particular good or service at a lower opportunity cost
Comparative advantage
Arises from differences in national factor endowments
Heckshere Ohlin theory
Products mature both the location of sales
Product life cycle theory
Diagram that resembles the four points of a diamond
Porter’s diamond
DIAMONDS MODEL FOUR FACTORS
Firm strategy
Structure and rivalry
Related supporting industries
Demand conditions and factor conditions
