Review

1
Part I

• Review

2
Globalization

• Globalization of markets and production
• Drivers of globalization
• lower trade barriers, technological innovation
• Emergence of global institutions
• Changing nature of multinational corporations
  size and demographics
• The pros and cons of globalization

3

• The merging of historically distinct and separate
  national markets into one huge global marketplace
  is known as
• a) global market facilitation
• b) cross-border trade
• c) supranational market integration
• d) the globalization of markets

4
National Differences

• Political economy
• The interactions of a nations political, economic
  and legal systems
• Placing nations along three continua
• Individualistic vs. collectivistic
• Democratic vs. totalitarian
• Free-market vs. command economies
• Legal systems
• Based on common law, civil law or theocratic law
• Defining economic development

5

• A form of government in which one person or
  political party exercises complete control over
  all spheres of human life and prohibits opposing
  political parties is
• a) a democracy
• b) a representative democracy
• c) totalitarianism
• d) socialism

6
Cultural Differences

• Definitions of culture
• Components of culture
• Values, norms
• Distinctions between cultures, societies,
  nations, and states
• Social structures
• Individual vs. group orientations
• Social stratification and social mobility
• Religious and ethical systems
• Implications for management
• Importance of cross-cultural literacy
• Culture as a source of competitive advantage

7

•  _____ are social conventions concerning things
  such as the appropriate dress code in a
  particular situation, good social manners, eating
  with the correct utensils, neighborly behavior
  and the like. A. ValuesB. BeliefsC. MoresD. Fo
  lkways

8
Business Ethics

• Business ethics as accepted principles or right
  and wrong
• Ethical issues in international business
• Corruption Emergence of international laws to
  control corruption
• Environmental pollution Differences in
  regulatory regimes
• Human rights Working in countries that lack
  effective human rights protections
• Employment practices Working conditions, wages
  and forced or child labor
• Ethical dilemmas and ethical decision making

9

• An _______ is a situation in which none of the
  available alternatives seems ethically
  responsible.
• A. ethical question
• B. ethical choice
• C. ethical dilemma
• D. ethical mix-up

10
(No Transcript)