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IBT > MIDTERM > Flashcards

MIDTERM Flashcards

1
Q

Customary beliefs l
-system of values

A

Culture

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2
Q

Various beliefs behaviors languages practices and expressions

A

Cultural differences

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3
Q

Group of people participating in continuous social connection

A

Society

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4
Q

Shared national identity physical borders and a single government

A

Nation state

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5
Q

Rule or standard of behavior shared by members of a social group

A

Norms

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6
Q

Beliefs and principles that you believe

A

Values

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7
Q

Simple objects such as tool or ornament showing human workman

A

Artifacts

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8
Q

Something that stands for represents or suggest another

A

Symbols

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9
Q

Structured system of communication that consist of grammar and vocabulary

A

Language

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10
Q

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

A

Communication

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11
Q

Attitudes toward management roles and also vary widely between cultures.

A

Organizational hierarchy

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12
Q

Different approaches to professional communication

A

Workplace etiquette

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13
Q

This could make it easier for business people to recognize cultural differences

A

Cultural awareness

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14
Q

To believe in cultural pluralism

A

Develop a sense of cultural heterogeneity

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15
Q

One of the most important characteristics in international relationships is flexibility

A

Be flexible but retain your own identity

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16
Q

Successful business deal should benefit both sides

A

Believe in win win game

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17
Q

Business people should prioritize the goal of the company

A

Task and purpose related focus

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18
Q

Manage their firm well in spite of their differences

A

Create cultural synergy

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19
Q

Refers to how openly a society of culture accepts or does not accept differences

A

Power distance

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20
Q

Refers to People’s tendency to take care of themselves

A

Individualism

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21
Q

Masculine or feminine cultures

A

Masculinity versus femininity

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22
Q

How much uncertainty of society or culture is willing to accept

A

Uncertainty avoidance

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23
Q

Various persistence perseverance thriftiness and having a sense of

A

Long term orientation

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24
Q

Values tradition only to the extent of fulfilling social obligations or providing gifts or favors

A

Short term orientation

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25
Q

Transform due to massive adoption of cultural traits from the another society

A

Cultural change

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26
Q

Priority of one’s own culture

A

Ethnocentric behavior

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27
Q

Firms that are ill informed about practices of another culture are unlikely to succeed in the culture

A

Cross cultural literacy

28
Q

Reorient our mindset and most importantly our

A

Cross cultural understanding

29
Q

Constitute a global code of conduct
-establishes ethical standards for employees and businesses

A

International business ethics

30
Q

Principles of right or wrong
-branch of philosophy that involves systemizing defending and recommending concepts of right and wrong conduct

A

Ethics

31
Q

Accepted principles of right or wrong governing the conduct of business people

A

Business ethics

32
Q

Strategy or course of action that does not violate or break this accepted principles

A

Ethical strategy

33
Q

Situation or topics that raise questions about what is morally right or wrong

A

Ethical issues

34
Q

Occurs when a person is faced in the situation when there are two or more morally acceptable options

A

Ethical dilemma

35
Q

MOST COMMON ETHICAL ISSUES IN BUSINESS

A

Employment practices
Human rights
Environmental pollution

36
Q

Business people should take social consequences of economic action

A

More obligation or social responsibility

37
Q

Rooted in poor personal ethics

A

Unethical behavior

38
Q

Generally accepted principles of right and wrong leading the conduct of individuals

A

Personal ethics

39
Q

Business people may behave and ethically because they fail to ask the relevant question

A

Decision making process

40
Q

An ethical behavior may exist in firm with an organization culture the values and standards that are shared among employees of an organization

A

Organizational culture

41
Q

Pressure from the parent company to meet performance goals

A

Unrealistic performance expectation

42
Q

People who work for or who own the business

A

International stakeholders

43
Q

Individuals or groups who have some claim and firm

A

External stakeholders

44
Q

Guidelines for ethical decision making in a multinational enter

A

Straw men approaches

45
Q

Suggest that the only social responsibility of business is to increase profits

A

The friedman doctrine

46
Q

When in rome do what as romans do

A

Cultural relativism

47
Q

Multinational home country standards of ethics should be followed in foreign countries

A

The righteous moralist

48
Q

Asserts that if a firm manager of a multinational seas that firm

A

The naive immoralist

49
Q

Approaches to ethics called that the moral worth of actions

A

Utilitarian

50
Q

Based on the philosophy of immanuel kant

A

Kantian ethics

51
Q

Fundamental rights and privileges
-minimum level of morally acceptable behavior

A

Rights Theories

52
Q

Adjust distribution is considered fair and equitable

A

Justice theories

53
Q

Make sure that a business behaves in a ethical matter

A

Ethics officers

54
Q

Business people should consider the social consequences of economic actions

A

Corporate social responsibility

55
Q

Exchange involving a good or service

A

International trade

56
Q

Comparative advantage arise from differences in national factor endowments
2 PERSONS

A

Eli HECKSHER and Bertil Ohlion

57
Q

Swedish economist
-concept of train industry trade

A

Stefan linders theory

58
Q

Focused on MNC’s and their efforts to gain a competitive advantage

A

Global Strategic rivalry theory

59
Q

Some nations are more competitive in certain industries

A

Porter’s national competitive advantage theory

60
Q

Empower a nation via wealth
Views trade as ZERO SUM GAME

A

Mercantilism

61
Q

He was the against mercantilism

A

Adam smith

62
Q

Product when it is more efficient than any other country in tradition
-produce more of a good or service than a competitor

A

Absolute advantage

63
Q

Ability to produce a particular good or service at a lower opportunity cost

A

Comparative advantage

64
Q

Arises from differences in national factor endowments

A

Heckshere Ohlin theory

65
Q

Products mature both the location of sales

A

Product life cycle theory

66
Q

Diagram that resembles the four points of a diamond

A

Porter’s diamond

67
Q

DIAMONDS MODEL FOUR FACTORS

A

Firm strategy
Structure and rivalry
Related supporting industries
Demand conditions and factor conditions

IBT (1 decks)

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