Professional Documents
Culture Documents
McGraw-Hill/Irwin
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Negative effects
vast surplus funds from global investments flowed into U.S. that were invested badly in subprime mortgages
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Multinational organization
nonprofit organization with operations in several countries
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Parochialism
narrow view in which people see things solely through their own view
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Figure 4.1
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Exporting
a company produces goods domestically and sells them outside the country
Countertrading
bartering goods for goods
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Franchising
a firm allows a foreign company to pay it a fee and a share of the profit in return for using the firms brand name and a package of materials and services
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Greenfield venture
a foreign subsidiary that the owning organization has built from scratch.
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Import quotas
limits on the numbers of a product that can be imported
Embargoes
complete ban on the import or export of certain products
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Cultural Dimensions
Low-context culture
shared meanings are primarily derived from written and spoken words
High-context culture
people rely heavily on situational cues for meaning when communicating with others
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Power distance
how much do people accept inequality in power
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Masculinity/ femininity
how much do people embrace stereotypical male or female traits
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