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FINAL IBM (Fach) / Richtig (Lektion)

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• XXX hesitate to say “No” when expressing disagreement. Japanese people
• In XXX, showing impatience, frustration, irritation, or anger disrupts harmony and is considered rude and offensive. XXXXX
• XXX tend to be soft-spoken, and people typically are sensitive to context and nonverbal cues (body language). Asians
• XXX (1) each person emphasizes his or her own self- interest; (2) competition for resources is the norm; (3) individuals who compete best are rewarded (e.g. Australia, Britain, Canada, and the U.S.). In individualistic societies:
• IXXXX (1) ties among individuals are important; (2) business is conducted in a group context; (3) life is a fundamentally cooperative experience; (4) conformity and compromise help maintain harmony (e.g. China, Panama, Japan, South Korea). n collectivist societies:
• XXX describes how a society deals with inequalities in power that exist among people. Power Distance
• XXXX exhibit big gaps between the weak and powerful; In firms, top management tends to be autocratic, giving little autonomy to lower-level employees (e.g. Guatemala, Malaysia, Philippines, and several Middle East countries). High power distance societies
• have small gaps between the weak and powerful; Firms tend toward flat organizational structures, with relatively equal relations between managers and workers (e.g. Scandinavian countries, Denmark and Sweden, instituted various systems to ensure socioeconomic equality; the U.S. also scores relatively low on power distance). Low power distance societies
• XXX refers to the extent to which people can tolerate risk and uncertainty in their lives. Uncertainty avoidance
• XXXX societies create institutions to minimize risk and ensure security. Firms emphasize stable careers and regulate worker actions. Decisions are made slowly (e.g. Belgium, France, Japan). High uncertainty avoidance
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• InXXXX, managers are relatively entrepreneurial and comfortable with risk. Firms make decisions quickly. People are comfortable changing jobs (e.g. Ireland, Jamaica, U.S.) low uncertainty avoidance societies
• XXXXvalue competitiveness, ambition, assertiveness, and the accumulation of wealth. Both men and women are assertive, focused on career and earning money (e.g. Australia, Japan). Masculine cultures
• XXX emphasize nurturing roles, interdependence among people, and caring for less fortunate people – for both men and women (e.g. Scandinavian countries where welfare systems are highly developed, and education is subsidized). Feminine cultures
• XXX emphasizes the long view in planning and living, focusing on years and decades (e.g. traditional Asian cultures, such as China, Japan, and Singapore, which base these values on the teachings of the Chinese philosopher Confucius (500 B.C.), who espoused long-term orientation, discipline, hard work, education, and emotional maturity). Long-term orientation
• . An XXX is an expression whose symbolic meaning is different from its literal meaning (It is a phrase you cannot understand by knowing only what the individual words in the phrase mean). idiom
• XXXX represent a person’s judgment about what is good or bad, acceptable or unacceptable, important or unimportant, and normal or abnormal.→ Values guide the development of attitudes and preferences. Values
• XXX are similar to opinions but are often “unconsciously held” and may not have rational basis. Attitudes
• XXXXX are rigidly held attitudes, usually unfavorable and usually aimed at particular groups of people. Prejudices
• In XXXXX, managers focus on the task at hand and prefer getting down to business, preferring seal agreements with legalistic contract, and take an impersonal approach to settling disputes. deal-oriented cultures
• XXXX emphasize affiliations with people, seeking to build trust and get to know the other party in business transactions. Relationship oriented cultures
• XXXX are ways of behaving and conducting oneself in public and business situations. Manners and customs
• Young cultures like Australia, Canada, and the U.S. have a XXXXX – a rigid orientation in which the individual is focused on schedules, punctuality, and time as a resource. “Monochronic” view of time
• XXXX is a virtue and time is money. → Managers and investors are impatient and want quick return (Company performance is measured quarterly). Punctuality
• However, some cultures have a XXXX perspective on time – a flexible, nonlinear orientation to time, whereby the individual takes a long-term perspective and emphasizes human relationships. “Polychronic”
• XXXX is a system of common beliefs or attitudes concerning a higher being or a system of thought that people consider to be sacred, divine, or the highest truth. → Religious conceptions of right and wrong have played a major role in the development of ethics and social responsibility. Religion
• XXXX substantially affects culture and business, and Protestantism encouraged the rise of capitalism in Europe and North America; In most Middle East countries, Islam is the basis for government and legal systems, influencing strongly culture and society. Christianity
• XXX is the indigenous dominant religion of South Asia, especially India. → Hindus believe in reincarnation, a cycle of birth, life, death, and rebirth; The nature of actions taken during one’s lifetime, karma, determines future destiny; Karma implies that people are born into a social level, or caste, because of their good or bad deeds in earlier lives. Hinduism
• XXXX is both religion and philosophy that encompasses various traditions and practices, common to Asia, especially China and Japan. → Buddhism promotes harmony and peaceful relations with others, encourages tolerance for others and mutual cooperation. → It is seen to support ethical and responsible behavior in business Buddhism
• Often described as the expression or mirror of culture, language is not only essential for communications, it also provides insights into culture (The world has nearly 7,000 active languages). Language
• In much of the world, English tends to dominate cross-national commerce. → However, buyers always prefer appeals offered in their native tongue. → XXXX is a great asset in IB because it facilitates cross- cultural communications and understanding. Linguistic proficiency
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• . XXX are a key determinants of culture and cultural change. → Communications, information, and transportation technologies have increased people’s ability to learn about and connect with unfamiliar cultures. Technological advances
• Clearly, XXXX is a major factor in the emergence of a common worldwide culture (Movies and TV shows promote the convergence of customs, fashions, and other manifestations of culture). globalization
• XXX are more important than pure information because skills can be transferred across countries, while information is often country-specific. “Skills”
• XXXX Avoid ethnocentric assumptions, i.e. self-reference criterion – the tendency to view other cultures through the lens of your own culture. Avoid cultural bias:
• Develop xxxx through various sources, including reading books, cross-cultural training, learning from expatriates, and befriending natives in one’s own country. → But, direct experience with the culture is generally best. cross-cultural skills
• One way for managers to determine the skills they need to approach cultural issues is to measure their XXXXX, a person’s ability to function effectively in situations characterized by cultural diversity, focusing on specific capabilities important for high-quality personal relationships and effectiveness in culturally diverse settings and work groups. cultural intelligence (CQ)
• . XXXX refers to the growing economic interdependence that results when two or more countries within a geographic region form an alliance aimed at reducing barriers to trade and investment. Regional (Economic) Integration
• At a minimum, the countries in an economic bloc become parties to a xxxxx, a formal arrangement between two or more countries to reduce or eliminate tariffs, quotas, and other barriers to trade in products and services (The member nations also undertake cross-border investment within the bloc). Free Trade Agreement
• Today, more than 50% of world trade occurs as part of a xxx signed by groups of countries preferential trade agreement
• Regional integration results from the formation of an XXXXXX → A geographic area that consists of two or more countries that agree to pursue economic integration by reducing tariffs and other restrictions to the cross- border flow of products, services, capital, and in more advanced stages, labor economic bloc.
• Since 1947, the XXXXX and later the WTO have achieved much success in fostering economic integration on a global scale. http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm General Agreement on Tariffs and Trade (GATT)
• Historically, most trade and investment were conducted among the advanced economies, however, today, developing economies and especially emerging markets play important and growing roles in IB. →XXXXXXX from Brazil, China, Russia, and India leverage local advantages such as low-cost labor and superior skills to compete successfully around the world. New global challenger firms
• XXXXXX Post-industrial countries with high per-capita income, highly competitive industries, and well-developed commercial infrastructure (Typically the richest countries, including Australia, Canada, Japan, U.S., and nations of Western Europe). Advanced Economies:
• XXXX Low-income countries characterized by limited industrialization and stagnant economies (e.g. Bangladesh, Bolivia, Nicaragua, Zaire, etc.). Developing Economies (Underdeveloped / Third-World Countries):
• XXXX Former developing economies that have achieved substantial industrialization, modernization, and remarkable economic growth since the 1980s, mainly found in Eastern and South Asia, Latin America, South Africa, the Middle East, and Eastern Europe (e.g. Brazil, Russia, India, China, Indonesia, Mexico, Poland, Turkey, etc.). Emerging Market Economies:
• XXXX refer to a subset of emerging markets that evolved from centrally planned economies into liberalized markets (e.g. China, Russia, and several countries in Eastern Europe – Poland, the Czech Republic, Hungary). Transition economies
• These countries were once socialist states but have been largely transformed into capitalism-based systems, partly through a process of XXXX– the transfer of state-owned industries to private concerns. → privatization
• XXXX are leading firms from emerging markets that are fast becoming key contenders in world markets New global challengers
• The XXXXX in emerging markets implies rising demand for various consumer products and services. growing middle class
• Emerging markets are home to XXXX labor for manufacturing and assembly operations low-wage, high-quality labor

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