Globalization
Definition of Globalization
What is the process by which businesses or other organizations develop international influence or start operating on an international scale?
Definition of culture
What is the system of values and norms that are shared among a group of people and that when taken together constitute a design for living?
Definition of International Trade
What is the flow of goods and services between countries?
Government Intervention in Markets
What is...
Tariffs, Specific Tariffs, and Ad valorem tariffs, subsidies, import quotas
Impact of culture on negotiation behavior
What is...
Language, Nonverbal behaviors, Values, Thinking and decision making processes
Two different types of Globalization
Importance of culture to business
What is ways we respond to consumers, priorities attached to different products, and understanding of marketing messages?
Why countries engage in international trade
What is...
correlation between "openess" to trade and economic growth
Increase the variety of products for consumers within a country
Increase in trade specialization as countries are efficiency-seeking
Why does government intervene in markets
What is...
Political arguments & Economic arguments
What is...
These differences frequently cause misunderstandings and bad feelings in international business negotiations
The role of Global Institutions
What is help manage, regulate, and police the global marketplace?
Difference between Individualism and Collectivism
Individualism emphasizes on individual achievement /entrepreneurship
Collectivism is the relative attachment to a group
New Trade Theory
What is the ability of firms to gain economies of scale that can have important implications for international trade?
Political Arguments for government intervention
What is...
Protecting jobs, protecting national security, retaliation for unfair foreign competition, protecting consumers from 'dangerous' products, protecting the human rights of individuals in exporting countries?
Differences in Thinking and Decision-making processes
What is...
When faced with complex negotiation tasks, most will divide larger task into smaller tasks?
The drive of Globalization
What is declining barriers to the free flow of goods, services, and capital?
How religion affect culture
What is religious value system differ across the world and affect everything business?
Definition of Free Trade
What is...
When governments do not attempt to restrict what citizens can buy from another country or what they can sell to another country?
Economic arguments for government intervention
What is...
The infant industry argument, and strategic trade policy
Dangers of Stereo-types
What is...
Outgroup Homogeneity Bias ?
Worries from Globalization
What is job losses, environmental degradation, richs become richer, poor people become poorer?
Implications for Managers
What is the need to develop a cross-country literacy or an understanding of how cultural differences can affect business?
Hecksher-Ohlin Theory
What is...
That comparative advantadge arises from differences in national factor endowments ?
Trade barriers for Managers
What is...
affecting the strategy of the firm and the implications of government policy on the firm?
Behavior during negotiations
What is...
Softer persuasion tactics
Asking questions
Important signals of process