Globalization Pt 1
any commercial transaction that crosses the borders of two or more nations
International business
the two main forces that underlie the globalization of markets and production
Falling barriers to trade and investment and technological innovation
centers around the set of values, beliefs, and rules of society
culture
describes a system of social stratification in which personal ability and actions determine social status
and mobility
Class system
The study of how a country manages its affairs by using political, economic, and legal systems
political economy
have direct investments in the form of marketing or manufacturing subsidiaries abroad in multiple countries
Multinational corporations
Some of the critics of globalization argue that the relentless pursuit of low-cost goods has led to
sending manufacturing jobs abroad
a group of people who share a unique way of life within a larger, dominant culture
Subculture
a system of social stratification in which people are born into a social ranking, with no opportunity
for social mobility and are prejudged by their social ranking in this system?
Caste system
political systems do individuals govern without the support of the people, tightly control people's lives, and
do not tolerate opposing viewpoints
Totalitarianism
trend toward greater economic, cultural, political, and technological interdependence among nations
institutions and economies.
Globalization
Globalization supporters argue that globalization increases wealth and efficiency in both developed and underdeveloped nations because
openness to international trade increases national production
The belief that one's own ethnic group or culture is superior to that of others
ethnocentricity
To provide good service for tourists, the local hotel
staff put a sign in the hotel lobby that reads, "You are welcome to visit the cemetery where famous Russian composers, artists, and
writers are buried daily except Thursday." What is wrong with this sign's text?
Translation
People have a constitutional right to voice opinion freely and without fear
democracy
The convergence in buyer preferences in countries around the world is referred to as
globalization of markets
Opposition groups allege that globalization empowers organizations erodes the
sovereignty of a nation
ideas, beliefs, and customs to which people are emotionally attached
values
According to Hofstede's Index, which country has the highest score on valuing hard work and promoting entrepreneurial risk taking,
meaning that responsibility for poor business decisions is placed primarily on the individual in charge
United States
political system provides full civil and property rights
Democratic
describes the sourcing of key production inputs, such as raw materials or products, for assembly as well
as the international outsourcing of services
Globalization of production
They recognize that healthy future markets require a sustainable approach to the business expansion for future local markets
support reasonable environmental laws
An important aspect of social structure is the way a culture divides its population according to status. Which one of the following terms
refer to the process of ranking people into social layers or class?
Social stratification
According to Hofstede, which one of the following cultural dimensions conveys the degree to which a culture accepts social inequality
among its people
Power distance
economic systems does the government own a nation's land, factories, and other economic resources
Centrally planned economy