Exam One International Business

Protestantism

According to Weber, thrift, efficiency, and hard work are the result of a persons belief in the ethics of which religion

as countries get richer, there seems to be a shift from survival values to well-being values

According to the findings of the World Value Survey

Mudarabah contract

Allows a Muslim bank to share in the profits of a project when loaning money to a business

the routine conventions of everyday life

Folkways are characterized as

business activities outside its home country

Foreign direct investment occurs when a firm invests resources in

a society that allows relatively free gratification of basic and natural human drives related to enjoying life and having fun

Geert Hofstede added the dimensions of indulgence to the World Values Survey to refer to

migration of low wage manufacturing jobs offshore.

Globalization critics argue that the decline in unskilled wage rates is due to the

creating manufacturing units in developing countries

Globalization has enabled organizations to reduce their costs of production by

holds networks together

In the Confucian culture, guanxiwang refers to relationships, which

removing price controls

In the case of command economies, deregulation involves

refers to a philosophy that a person should have freedom in his or her economic and political pursuits

Individualism

creating new products and markets

Innovation and economic activity help increase economic activity by

capitalism

Max Weber attributed the relationship between the emergence of _____________ and Protestantism to the value system of the religion

True

The Caste system has not held back entrepreneurial development in India

Individualism

The Dynamism associated with the US economy is a result of the philosophy of

Individualism vs. Collectivism

The Hofstede dimension that is focused on the degree to which people in a society are integrated into groups is

1.) impact of globalization 2.) support for democracy 3.) support for gender equality

The WVS includes which deminsions

World Bank

The _______ was created in 1944 by 44 nations that met in Bretton Woods, New Hampshire to promote economic development

True

The class system is a less rigid form of social stratification than the caste system.

based on tradition, precedent, and custom

The common law system is

values and norms across cultures

The convergence hypothesis refers to a universal acceptance of

Five

The orthodox Muslim is required to pray _______ times a day.

norms

The social rules and guidelines that prescribe appropriate behavior in a particular situation are called

Confucianism

What Ethical system emphasizes taking the right actions to attain salvation

culture

What factor has the least significance in explaining differences in economic growth between nations

Christianity

What is the most widely practiced religion in the world

Ethical System

_________________ refers to a set of moral principles, or values, that are used to guide and shape behavior

Religion

a system of shared beliefs and rituals based on sacred thought

Caste System

a type of social structure that divides people on the basis of inherited social status

society

an organized group of people who share a common set of values and norms

very detailed with contingencies spelled out

contracts drafted under a common law framework tend to be

The belief in the superiority of ones own culture

ethnocentrism

class consciousness

is an awareness of ones social or economic rank in society

Ethnocentrism

judging another culture solely by the values and standards of one's own culture

Social Mobility

the movement of the members of a particular society in terms of their social status from one group to another is called

complys with Islamic business practices

Muslim countries are receotive to international business that

allows firms to move manufacturing activities to countries with lower wage rates

Opponents of globalization argue that failing trade barriers

Ethical System

Reflects the moral principles used to guide and shape behavior

1.) This connection can affect the choice of countries to do business in and locate production facilities in 2.) The connection suggests which countries might produce the most viable competitors

There is a connection between culture and competitive advantage. What are two reasons that make this connection important?

quality of human life in different nations

United nations has developed the human development index (HDI) to measure the

ideas about what a group believes to be good, right, or desirable

Values are defined as

culture

A system of values and norms that are shared among a group of people and that when taken together constitute a design for living is called

any firms that engages in international trade

An international business is defined as

There is no separation between people and nature

As Modernization occurs, what contradicts Buddhas teachings

True

Based on the Koran , the payment or receipt of interest is considered exploitive and unjust

1.) Support of the caste system 2.) advocacy in extreme ascetic behavior

Buddhism has all the same basic beliefs as Hinduism except

Nirvana

Hindus believe that an individual can achieve a state of complete spiritual perfection known as _____________ by practicing material and physical self denial

folkways

In Business, mores have much greater significance than

clash of value systems and ideology

In Samuel Huntington's thesis, global terrorism is a product of the

cooperation between a company and its suppliers on issues such as designs, quality control, and inventory reduction

It has been argued that the success of Japanese enterprises in the global economy has been based partly on which of the following?

reduce the number of people living in extreme poverty

The purpose of the U.N.s Millennium Developments goals that were established in 2000 was to

encouraging vigorous free and fair competition among private producers

The role of government in a market economy involves

1.) political philosophy 2.) social structure 3.) Economic Philosophy

What are the three determinates of culture?

1.) Reciprocal obligations 2.) Honesty in dealing with others 3.) loyalty

What are the three values central to the Confucian system of ethics that may have led to economic success in some Asian countries

1.) Loyalty to others 2.) High Ethical Conduct 3.) High Moral Standards

What are three things what are associated with Confucianism?

1.) Hofstedes research was culturally bound 2.)Hofstede assumed a one to one correspondence between culture and nation

What are two criticisms of Hostedes work?

The emphasis on individual religious freedom

What aspect of Protestantism paved the way for the subsequent emphasis on individual economic and political freedoms?

1.) power distance 2.) Masculinity Vs. Femininity 3.) Individualism Vs. Collectivism

What dimensions did Hofstede identify and study?

countries progressively raising trade barriers against each other

What factor contributed to the great depressions of the 1930's?

The inflation rate in a country is an indicator of the economic risks of doing business in a country

What if true about the economic risks of doing business in a country

All businesses are owned by the state

What is a characteristic of a pure command economy?

provisions of partial individual economic freedom along with restricted individual political freedom

What is a feature of right wing totalitarianism?

totalitarian regimes failing to deliver economic progress to the majority of their populations

What is a reason for the spread of democracy?

1.) Being on time 2.) obedience of authority 3.) respect for others

What is apart of the "hidden curriculum" of schools?

education, honesty, and loyalty

What is emphasized by Japanese businesses?

designs and names by which businesses differentiate their products

What is the definition of trademark

Roman Catholic

What is the major Christian organization today accounting for more than half of its members.

Islam

What major world religion is based on the teachings of the Prophet Muhammad?

1.) Can not earn profit through exploitation of others 2.) Hold property as trustees, rather than as owners (per western definition of ownership)

What phrases reflect the economic implications of Islam?

establishment of the world trade organization

What was implemented by the Uruguay Round, finalized in December 1993?

free enterprise

When discussing Islam, the Koran actually promotes

a country sells its postal services to a consortium of companies that runs it as a profit making venture without any state funding

Which of the following exemplifies privatization

Hindus would be less likely to engage in entrepreneurial activity

Which of the following statements BEST explains how Max Weber compares Hindus to Protestants?

Collectivism

Which philosophy can be traced back to the ancient Greek philosopher Plato?

Public Action

__________ is the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats