Ibus 370 Exam 1

Front 1

Globalization

Back 1

the increasing interdependence and integration of the worlds economies

Front 2

Globalization of Markets

Back 2

originally separate national markets are now being perceived as a larger merged market

Front 3

Globalization of Production

Back 3

organizations are looking outside their home markets to source factors of production

Front 4

Drivers of Globalization

Back 4

1) reduction in trade and investment barriers

2) Technological Development

Front 5

Consequences of globalization

Back 5

1) changes in demographics of the world economy

2)Changes in FDI flows and stocks

3) changes in the nature of the multinational enterprise (MNE)

4) changes in world order

5) debates around globalization

Front 6

What are the three elements in the Political Economy?

Back 6

1) Political

2) Legal

3) Economic

Front 7

Political Systems

Back 7

Socialism

Communism

Social democracy

Democracy

Totalitarianism ( Communist, theocratic, tribal)

Front 8

What are the different forms of economic systems?

Back 8

1) Market Economy 2) Command Economy 3)Mixed Economy

Front 9

what are the forms of legal systems ?

Back 9

1) Common Law ( precedence) 2) Civil Law (code) 3) Contract law 4) Theocratic (religious) 5) Contract law

Front 10

high context cultures

Back 10

rely heavily upon situational cues for meaning while communicating

Front 11

low context cultures

Back 11

tend to rely heavily on written and spoken words to derive meaning

Front 12

hofstedes dimensions

Back 12

1) individualism/ collectivism

2) power distance

3) uncertainty avoidance

4) masculinity/ femininity

5)Confucian Dynamism

Front 13

monochronic

Back 13

people like to do one thing at a time

Front 14

polychronic

Back 14

likes to do more than one thing at a time

Front 15

sequential cultures

Back 15

focus on moving forward and efficiency

Front 16

synchronic cultures

Back 16

time is referred to as cyclical and repetiviness, focus is on effectiveness rather than efficiency.

Front 17

caste system

Back 17

You are born into your social position and there is no movement

Front 18

class system

Back 18

individuals social position can change with achievements, marriages, lucky, etc..

Front 19

tight couples cultures

Back 19

typically stick to the rules " and the way things are done here"

Front 20

loosely coupled cultures

Back 20

more accepting of bending the rules and deviating from the norm

Front 21

roots of unethical behavior

Back 21

personal ethics, flawed decision making, organizational culture, unrealistic performance expectations, leadership

Front 22

cultural relativism

Back 22

ethics are simply a reflection of a culture

Front 23

righteous moralism

Back 23

you must follow the standards of your culture even when abroad

Front 24

naïve immoralist

Back 24

if other mnes aren't following a strict code of ethics in a host country than neither will we

Front 25

utilitarian approach

Back 25

do whats best for the greater good

Front 26

Kantian ethics

Back 26

people should be treated as ends not means to an end

Front 27

stakeholder mapping

Back 27

interest, power those with high interest and low power are vulnerable

Front 28

FCPA

Back 28

foreign corrupt practices act, any corporation using us financial systems ( banking, stocks)

Front 29

stake holders with high interest and power

Back 29

shareholders, customers, board of directors, government,

Front 30

stakeholders with high interest low power

Back 30

suppliers, activists, local communities, competitors

Front 31

stakeholders with low interest low power

Back 31

foreign competitors, companies developing new products

Front 32

stakeholders with low interest high power

Back 32

mass media, financial institutions