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Chapter 2

International business any commercial transaction that crosses the borders of two or more nations.
Imports goods and services purchased abroad and brought into a country.
Exports goods and services sold abroad and sent out of a country.
e-business the use of computer networks to purchase, sell, or exchange products, service customers, and collaborate with partners.
Globalization the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.
GATT a treaty designed to promote free trade by reducing both tariffs and non-tariff barriers to international trade.
tariffs taxes levied on traded goods
non-tariffs limits on the quantity of an imported product.
WTO (World Trade Organization) the international organization that enforces the rules of international trade.
GDP (Gross Domestic Product) the value of all goods and services produced by a domestic economy over a one-year period.
GNP (Gross National Product) the value of all goods and services produced by a country's domestic and international activities over a one-year period.
GDP/GNP per capita GDP or GNP divided by its population.
Economic Integration trade, foreign direct investment, portfolio capital flows, and investment income.
Personal Contact international travel and tourism, international telephone traffic, remittances, and personal transfers.
Technological Connectivity internet users, internet hosts, and secure servers.
Political Engagement memberships in international organizations, personnel and financial contributions to U.N. Security Council missions, international treaties ratified, and government transfers.
World Bank agency created to provide financing for national economic development efforts.
IMF (International Monetary Fund) an agency created to regulate fixed exchange rates and enforce the rules of the international monetary system.
MNC (Multinational Corporation) a business that has direct investment abroad in multiple countries.
born global firm a company that adopts a global perspective and engages in international business from or near its inception.
culture the set of values, beliefs, rules, and institutions held by a specific group of people.
ethnocentricity the belief that one's own ethnic group/culture is superior to that of others.
cultural literacy detailed knowledge about a culture enables a person to function effectively within it.
subculture a group of people who share a unique way of life within a larger, dominant culture.
aesthetics what a culture considers "good taste" in the arts, the imagery evoked by certain expressions, and the symbolism of certain colors.
values ideas, beliefs, and customs to which people are emotionally attached.
attitudes positive/negative evaluations, feelings, and tendencies that individuals harbor toward objects/concepts.
cultural trait anything that represents a culture's way of life, including gestures, material objects, traditions and concepts.
cultural diffusion process whereby cultural traits spread from one culture to another.
cultural imperialism replacement of one culture's traditions, folk heroes, and artifacts with substitutes from another.
manners appropriate ways of behaving, speaking, and dressing in a culture.
customs habits/ways of behaving in specific circumstances that are passed down through generations in a culture.
folk custom behavior, often dating back several generations, that is practiced by a homogeneous group of people.
popular custom behavior shared by a heterogeneous group or by several groups.
social structure embodies a culture's fundamental organization, including its groups and institutions, its system of social positions and relationships, and the process by which its resources are distributed.
social groups collections of 2 or more people who identify and interact with each other.
social stratification the process of ranking people into social layers or classes.
social mobility the ease with which individuals can move up or down a culture's social ladder.
caste system system of social stratification in which people are born into a social ranking, or caste, with no opportunity for social mobility.
class system system of social stratification in which personal ability and actions determine social status and mobility.
communication system of conveying thoughts, feelings, knowledge, and information through speech, writing and actions.
lingua franca third or "link" language understood by two parties who speak different native languages.
body language communicates through unspoken cues, including hand gestures, facial expressions, physical greetings, eye contact, and the manipulation of personal space.
brain drain the departure of highly educated people from one profession, geographic region, or nation to another.
topography all the physical features that characterize the surface of a geographic region.
material culture all the technology used in a culture to manufacture goods and provide services.
Kluckhon-Strodtbeck framework compares cultures along six dimensions. Studies a given culture.
Hofstede framework compares cultures along five dimensions.
Created by: kserrano005



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