Terminologies
This conversion method is used to capture the differences in cost of living across different countries.
What is Purchasing Power Parity (PPP)?
A person who believes their culture is superior to others holds this viewpoint.
What is ethnocentrism?
Equipment and inventory are classified as this type of resource.
What are tangible resources?
The legal rights to use an economic property and to derive income and benefits from it are called this.
What are property rights?
Rules of the game on how a country is governed politically.
What is Political Systems?
This political system involves one person or party exercising absolute political control over the population.
What is totalitarianism?
A country where it is common for women to be politicians, executives, scientists, etc., can be described as having this.
What is high femininity/low masculinity?
Outsourcing to a domestic firm.
What is Onshoring?
All factors of production are state-owned and state-controlled. All supply, demand, and pricing are planned by the government.
Command economy.
Democracy and Totalitarianism.
What are the two types of political systems?
Informal institutions are supported by these two pillars.
What are normative and cognitive?
Awareness, knowledge, and skills.
What are the three phases of cultural intelligence?
An example of this resource or capability includes human, innovation, or this type of resource.
What is an intangible resource?
The economic alliance of Brazil, Russia, India, China, South Africa.
What is BRICS?
Communist, Right-wing, Theocratic, and Tribal.
What are the types of Totalitarianism?
This term refers to the significant pay raise commanded by expatriates when working overseas.
What is an international premium?
A group of countries that share similar cultures.
What is "Cluster"?
In the Resource-based framework, this tool addresses four key questions with significant ramifications for competitive advantage.
What is VRIO?
Market economy, Command economy, and Mixed economy.
What are the three economic systems?
A business working internationally that struggles to adapt to local standards or customer preferences is exhibiting this.
What is ethnocentrism?
It is the Investment, controlling and managing value-added activities in other countries.
What is Foreign direct investment (FDI)?
Its communication usually relies on the underlying unspoken conditions or assumptions.
What is high-context culture?
Examining whether a firm has the resources and capabilities to perform activities in a manner superior to competitors.
What is Benchmarking?
Culture, geography, and institutions.
What are the driving forces in Economic Development?
An example of this situation: a country that often experiences wars, riots, protests, chaos, and breakdowns.
What is Political Risk?