Globalization
When countries increasingly rely on one another for products, services, resources, technology, and economic opportunities.
What is interdependence?
A group whose values and lifestyles oppose those of the dominant culture.
What is a counterculture?
Canada's economic system, combining private enterprise with government intervention.
What is a mixed economy?
The value of one country's currency expressed in another currency.
What is an exchange rate?
Rules and principles guiding a company's decisions about right and wrong.
What are business ethics?
This advancement allows international businesses to communicate and exchange information instantly.
What is communication technology?
Religion, politics, climate, history, and topography are examples of these.
What are cultural determinants?
The economic sector responsible for extracting and producing raw materials.
What is the primary sector?
If 1 CAD = 110 JPY, this is the value of $2,000 CAD in Japanese yen.
What is ¥220,000 JPY?
The ability to meet human needs while maintaining the environment for the future.
What is sustainability?
This globalization strategy uses standardized products and marketing worldwide.
What is a global strategy?
This perception of time allows flexible schedules and multiple simultaneous tasks.
What is polychronic time?
A political system in which citizens elect their representatives.
What is democracy?
When the Canadian dollar weakens, these Canadian businesses generally face higher costs for USD-priced purchases.
What are importers?
This ethical decision-making method asks how you would feel if everyone knew about your decision.
What is the test of disclosure?
This strategy adapts products and marketing to each country's culture.
What is a multidomestic strategy?
Hofstede's dimension measuring a society's comfort with ambiguity and unpredictable situations.
What is Uncertainty Avoidance (UAI)?
Central-bank actions affecting interest rates, money supply, and inflation.
What is monetary policy?
This economic factor measures changes in purchasing power and can influence exchange rates.
What is inflation?
A company refuses to pay a bribe abroad because it believes bribery is wrong regardless of local customs.
What is ethical imperialism?
A Canadian company uses this globalization strategy by changing its ingredients for foreign customers but keeps its global branding and production system.
What is a transnational strategy?
A society prioritizes future rewards, perseverance, and saving over immediate results. This reflects a high score on which Hofstede dimension?
What is Long-Term Orientation (LTO)?
This agreement helps prevent the same cross-border income from being taxed twice.
What is a tax treaty?
A US supplier charges $8,000 USD. At 1 CAD = 0.80 USD, this is the cost in Canadian dollars.
What is $10,000 CAD?
A company evaluates a foreign business custom according to local cultural values rather than automatically applying its home country's standards.
What is cultural relativism?