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Cornerstone
Chapter 2
| Question | Answer |
|---|---|
| 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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