Culture
The interconnected economies of the nations of the world
global economy
The exchange of goods and services between nations
international trade
The development of the global economy.
Globalization
These are shared values, beliefs, and goals of a company.
Corporate Culture
A specific area of business or industry, a skilled occupation, or the people who work in a specific area of business or industry
trade
This is a chain of command
Hierarchy
A company that does business in many countries and has facilities and offices around the world
multinational corporation
In informal culture, employees are not encouraged to make decisions on their own. True or False
False
Conduct that is considered socially acceptable in business
Business Etiquette
The production, purchase, and sale of goods and services within a country.
Domestic trade
Dress, Food, Language, Arts, History, Geography, Religious Beliefs, Ethnic Groups, Entire Country, Social group, Institution
What is one aspect of formal corporate culture?
Strict Hierarchy, Making changes or passing down decisions can be complicated, Job titles are indicators of power or status, Dress codes are enforced, Work hours are enforced
What is one of the four aspects of informal corporate culture?
Flexible dress code, flexible hours, work from home, job titles not important
A corporate culture can be influenced by a company's founder. True or False.
True
The exchange of goods and services across international boundaries.
World trade
The beliefs, customs and attitudes of a distinct group of people
Culture
Name one type of business etiquette from another country listed in your notes.
South Korea - Karaoke Business Meetings
France - You better know the language or apologize for not knowing it
Germany - Be prepared for bluntness
Italy - Getting to know you is very important
Australia - Better be punctual
Russia - You need to be on-time, but they don’t
China - You better bring a gift, but be prepared to be rejected
There are 3 things that must be researched before a company markets a product to a country. Name one of them.
Languages, Customs, Tastes
In business, culture has two meanings. Name one of them from your notes.
1. The customs of other countries which companies do business.
2. The standards of a particular company.
The difference in value between a country’s imports and exports over a period of time.
BALANCE OF TRADE
In Japan, what is a customary thing that you should do for someone who is potential business partner?
Give them a gift.
How many people walked off the job at Eurodisney after it opened?
3000
A government order that restricts commerce or exchange with a specified country or the exchange of specific goods.
Embargo
Several levels of management
Bureaucracy
Goods and services that one country sells to another country
Exports