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Definition
| People in your supply chain can give back in terms of value. |
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Definition
| You are constantly connected to your technology, and through it to the rest of the world. |
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Term
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Definition
| Analytical framework uses the distance dimensions of culture, administration, geography and economics to understand country/regional differences. |
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Definition
| A way to measure cultural differences. |
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Definition
| A way to measure differences in consume incomes and differences in costs and quality of resources. |
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Term
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Definition
A way to measure the differences in the following factors:
Colonial Ties
Monetary/Political Association
Political Hostility
Government Policies
Institutional Strength |
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Term
| CAGE Framework can be broken down into what four forms of distance? |
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Definition
Cultural
Administrative
Geographic
Economic |
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Term
| What are three ways to address an institutional void? |
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Definition
Adapt Business Model
Change Institutional Context
Stay Away |
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Term
| Define Institutional Void |
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Definition
| Absence of intermediaries to efficiently connect buyers and sellers. |
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Term
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Definition
| Every publicly traded company in the US is audited by the Big Four to ensure that it follows GAAP. |
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Term
| Describe China’s strategy in Africa. |
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Definition
China is helping to develop Africa in return for resources that they use to further build their companies.
They make agreements with governments, whether they are oppressive regimes or not.
They mainly care about gaining a foothold in the nation and using it to expand their resources. |
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Term
| If you were the head of a Chinese business that was operating in Sudan, how would you address issues of business ethics and doing business with a repressive regime? Should businesses care about local government ethics and human rights policies? |
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Definition
Businesses ethically should care about local government ethics and human rights policies.
However if the business isn't held to follow these government ethics and human rights policies, they can exploit these situations for large gains.
What is important is for a company to hold themselves up to their own code of ethics. |
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Term
| If you were a foreign businessperson working for a global oil company that was eager to get favorable government approval to invest in a local oil refinery in an African country, how would you handle any demands for paybacks (i.e., bribes)? |
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Definition
Bribes are not ethical.
Any attempt to bribe the company, should be refused.
What is important is for a company to hold themselves up to their own code of ethics. |
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Term
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Definition
| Trade theory states that a country's wealth is determined by its holding of gold and silver. |
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Term
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Definition
| Value of exports is greater than calue of imports. |
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Term
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Definition
| Value of imports is greater than the value of exports. |
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Term
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Definition
| Imposing of restrictions on imports and protecting domestic industry. |
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Term
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Definition
| Ability of a country to produce a good more efficiently than another nation. |
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Term
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Definition
| Country cannot produce a product more efficiently than another country, however it does produce that product better and more efficiently than it does another good. |
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Term
| Factor Proportions (HOT) Theory |
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Definition
| You can gain comparative advantage if you focus in operations in which you have more of an abundance of cheaper factors for those operations. |
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Term
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Definition
| The reverse of the HOT theory exists in some countries, like the US. |
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Term
| Country Similarity Theory |
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Definition
| Countries with the most similarities in factors will be more likely to engage in trade between countries and intraindustry trade will be common. |
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Term
| Product Life Cycle Theory |
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Definition
New Product
(Slopes Up)
Maturing Product
(Settles into an S)
Standardized Product |
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Term
| If you were a manager for Baskin-Robbins, how would you evaluate a request from a local partner in India to add a sugar-cane-flavored ice cream to its menu? What cultural factors would you look at? |
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Definition
Is this something that would work in other markets?
Would this be difficult to manufacture, or not be acceptable in certain areas?
Is there a high enough demand for this flavor of ice cream? |
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Term
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Definition
| Nation's competitiveness is based on local firm characteristics, market demand, resources and capabilities and complementary industries. |
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Term
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Definition
| Governs a complete set of rules, regulations, institutions and attitudes. |
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Term
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Definition
| Contends that individuals should control political activities and public government is both unnecessary and unwanted. |
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Term
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Definition
| Contends that every aspect of an individual's life should be controlled and dictated by a strong, central government. |
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Term
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Definition
| Asserts that both public and private groups are important in a well functioning political system. |
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Term
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Definition
| Form of government that derives its power from the people. |
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Term
| Do you think Dunkin’ Brands should let local operators make their own decisions regarding flavors for ice creams, donuts, and other items to be sold in-country? How would you recommend that the company’s global management assess the cultural differences in each market? Should there be one global policy? |
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Definition
It should be somewhat flexible, without necessarily being a wild wild west.
Each should be assessed on a case by case basis of whether or not they should be allowed to regulate certain factors themselves, on a local level. |
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Term
| Important Questions Regarding Risks A Company Might Face To Establish In Another Country |
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Definition
How stable is the government?
Is it a democracy or dictatorship?
If a new party comes into power, will the rules of business change dramatically?
Is power concentrated in the hands of a few, or is it clearly outlined in a constitution or similar national legal document?
How involved is the government in the private sector? |
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Term
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Definition
| Economic system in which the means of production are owned and controlled privately. |
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Term
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Definition
| Levied as a fixed charge, regardless of the value of the product or service. |
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Term
| How do governments intervene in trade? |
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Definition
Antidumping Rules
Export Financing
Free Trade Zone
Administrative Policies |
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Term
| Foreign Direct Investment |
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Definition
| Acquisition of foreign assets with the intent to control and manage them. |
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Term
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Definition
| Foreign company invests in local |
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Term
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Definition
| Domestic operation invests in foreign company |
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Term
| How governments discourage FDI |
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Definition
Ownership Restrictions
Tax Rates and Sanctions |
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Term
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Definition
| The Father of All Marketing |
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Term
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Definition
| What job does a product do, determines how we should market the product. |
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Term
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Definition
Beliefs, values, mind-sets and practices of a group of people.
Collective programming of our minds from birth. |
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Term
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Definition
| Having an understanding of another culture's values and perspective. |
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Term
| Cross-Cultural Understanding |
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Definition
| Reorient our mind-set, in order to accurately interpret the gestures, attitudes and statements of the people we encounter from other cultures. |
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Term
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Definition
| Something that we prefer over something else, whether it's a behavior or a tangible item. |
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Term
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Definition
Nationalities
Subcultures
Organizations |
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Term
| Geert Hofstede Power Dimensions |
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Definition
Power Distance
Individualism
Masculinity
Uncertainty Avoidance
Longterm Orientation |
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Term
| Edward T Hall is best noted for three principal categories of how cultures differ, which are? |
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Definition
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Term
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Definition
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Term
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Definition
| View that one's culture is the measuring stick used to assess all other cultures. |
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Term
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Definition
| Ethical rules may not be enforced until it is politically expedient to do so. |
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