Fundamentals of IB
At its most basic, it includes the sale of goods and services between countries.
What is International Business?
Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.
What is globalization?
System that enables individuals and groups to deal with each other and the outside world.
What is Culture?
Dutch researcher who created a theory for measuring culture
Who is Hofstede?
When a company conducts any business functions beyond its domestic borders.
When does an enterprise becomes multinational?
It eliminates jobs in developed nations, exploits workers in developing nations and destroys diversity in cultures.
What are the disadvantages of globalization?
Anxiety, surprise, disgust, disorientation, and confusion, that a person may experience, because of their interaction to the culture and customs from another country.
What is culture shock?
Analyze the way men and women interact.
Masculinity vs femininity
To create new market opportunities, level uneven income streams and access lower-cost workers.
Why internationalize a business?
Increases wealth and efficiency in all nations and advances economies of developing nations.
What are the advantages of globalization?
Honeymoon, Irritation, Adjustment, Adaptation
What are the four stages of culture shock?
It indicates the tendency to make decisions with a time perspective.
Short term and long term
Attempting to be born global, building the wrong team, not universalizing core values and company culture.
Why do global growth initiatives fail?
Dispersing value-chain activities anywhere in the world where the company can do them best or cheapest.
What is Location Advantage?
It refers to teamwork dynamics and the prioritization of collective interest over individual interest.
Individualism or collectivism
Analyze the ability to act despite not having all the information or resources.
Uncertainty avoidance