Commerce

LO 4-1 Explain what is meant by the culture of a society. LO 4-2 Identify the forces that lead to differences in social culture. LO 4-3 Identify the business and economic implications of differences in culture. LO 4-4 Recognize how differences in social culture influence values in business. LO 4-5 Demonstrate an appreciation for the economic and business implications of cultural change.

LO 5-1 Understand the ethical issues faced by international businesses. LO 5-2 Recognize an ethical dilemma. LO 5-3 Identify the causes of unethical behavior by managers. LO 5-4 Describe the different philosophical approaches to ethics. LO 5-5 Explain how managers can incorporate ethical considerations into their decision making.

LO 7-1 Identify the policy instruments used by governments to influence international trade flows. LO 7-2 Understand why governments sometimes intervene in international trade. LO 7-3 Summarize and explain the arguments against strategic trade policy. LO 7-4 Describe the development of the world trading system and the current trade issue. LO 7-5 Explain the implications for managers of developments in the world trading system. 

LO 8-1 Recognize current trends regarding foreign direct investment (FDI) in the world economy. LO 8-2 Explain the different theories of FDI. LO 8-3 Understand how political ideology shapes a government’s attitudes toward FDI. LO 8-4 Describe the benefits and costs of FDI to home and host countries. LO 8-5 Explain the range of policy instruments that governments use to influence FDI. LO 8-6 Identify the implications for managers of the theory and government policies associated with FDI.