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the political economic and legal systems of a country. |
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the system of government in a nation |
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a political system that emphasizes collective goals over individual goals |
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a political philosophy advocating substantial public involvement through government ownership in the means of production and distribution |
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those who believe socialism can be achieved only through revolution and totalitarian dictatorship |
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those committed to achieving socialism by democratic means |
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the sale of state owned enterprises to private investors |
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– an emphasis on the importance of quaranteeing individual freedom and self-expression |
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- political system in which government is by the people exercised either directly or through elected representitives |
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- form of gov in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties |
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–a political system in which citizens periodically elect individuals to represent them |
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Communist totalitarianism |
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a version of collectivism advocating that socialism can be achieved only through a totalitarian dictatorship |
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Theocratic totalitarianism |
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– a political system in which political power is monopolized bya party group or individual that governs according to religious principles |
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– a political system in which a party group or individual that represents the interests of a particular tribe monopolizes political power |
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Right wing totalitarianism |
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– a political system in which political power is monopolized by a party group or individual that generally permits individual economic freedom but restricts individual political freedom including free speech frequently on the grounds that it would lead to the rise of communism |
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an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced |
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– an economic system in which the government plans the goods and services that a country produces, the quantity in which they are produced and the prices at which they are sold |
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system of rules that regulate behavior and the processes by which the laws are enforced and through which redress of grievances is obtained. |
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a system based of law based on tradition precedent and customs |
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a system of law based on a detailed set of written laws and codes |
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a system of law based on religious teachings |
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– a document that specifies the conditions under which an exchange is to occur and details the rights and obiligations of the parties envolved |
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– the body of law that governs contract enforcement |
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United nations convention on contracts for the international sale of goods (CIGS) |
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– a set of rules governing certain aspects of the making and performance of commercial contracts between sellers and buyers who have their places of business in different nations |
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– the bundle of legal rights over the use to which a resource is put and over the use made of any income that be derived from that resource |
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– the theft piracy blackmail and the like by private individuals or groups |
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the extortion of income or reseources of property holders by public officials such as politicians and governments bureaucrats |
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Foreign corrupt practices act |
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– us law regulating behavior regarding the conduct of international business in the taking of brides and other unethical actions |
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grants the inventor of a new product or process exclusive rights to the manufacture use or sale of that invention |
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Purchasing power parity (PPP) |
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an adjustment in gross domestic product per capita to reflect differences in the cost of living |
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those wo first commercialize innovations |
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advantages that accrue to the first to enter a market |
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– handicaps experienced by being a late entrant into a market |
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– the likelihood that political forces will cause drastic changes in a countrys business environment that will adversely affect the profit and other goals of a business enterprise |
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the likelihood that events including economic mismanagement will cause drastic changes in a countrys business environment that hurt the profit and other goals of a particular business enterprise |
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an understanding of how cultural differences across and within nations can affect the way business is practiced |
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– abstract ideas about what a groupd believes to be good right and desirable |
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– social rules and guidelines that prescribe appropriate behavior in particular situation |
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– theory of how a society deals with the fact that people are unequal in physical and intellectual capabilities high power distance cultures are found in countries that let inequalities grow over time into inequalities of power and wealth low power distance cultures are found in societies that try to play down such inequalities as much as possible. |
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– extent to which different cultures socialize their members into accepting ambiguous situations and tolerating uncertainty |
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– a belief in the superiority of ones own ethnic group or culture often results in disregard or contempt for the culture of other countries |
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Foreign corrupt practices act |
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– a us law regulating behavior regarding the conduct of international business in the taking of brides and other unethical actions |
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Convention on combating bribery of foreign public officials in international business transactions – |
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OCED convention that obliges member states to make the bribery of foreign public officals a criminal offense |
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a situation in which none of the available alternatives seems ethically acceptable |
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– the belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate |
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– the belief that a multinational home country standards of ethics are the appropriate ones for companies to follow in foreign countries |
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– the belief that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation that manager should not either. |
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– these approaches to ethics hold that the moral worth of actions or practices is determined by their consequences |
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– the belief that people should be treated as end and never as means to the ends of others |
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– trend away from distinct national economic units and towards one huge global market |
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– moving away from an economic system in which national markets are distinct entities isolated by trade barriers and barriers of distance, time, and culture, and toward a system in which national markets are merging into one global market. |
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Globalization of production |
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trend by individual firms to disperse parts of the productive processes to different lcations around the globe to take advantage of national differences in the cost and quality of factors of production |
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General agreement on tariffs and trade (GATT) |
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– international treaty that committed signatories to lowering barriers to the free flow of goods across national borders and led to the WTO |
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World trade organization (WTO) |
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– organization that succeeded the GATT as a result of the successful completion of the Uruguay round of GATT negotiations |
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International monetary fund (IMF) |
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– international institution set up to maintain order in the international monetary system |
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- an international organization made up of 191 countries and headquartered in new York city formed in 1945 to promote peace security and cooperation |
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Foreign direct investment FDI |
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direct investment in business operations in a foreign country |
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a firm that owns business operations in more than one country |
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Modification of an individual due to contact to a different culture |
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The official ethical system in china |
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Factors which accelerate globalization |
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Decline in trade barriers Changes in communications, information, and transportation |
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Epitomizes the finance ministers and a central bank that governs the 19 largest economies in the world. |
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Began in the Indus valley in India, it’s the world’s oldest religion, they believe the cow is a sacred animal. |
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Second largest religion in the world, dates back to 610 AD by the profit Mohamed. Monotheistic religion central principal of slam is that is their only omnipotent god. |
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Most of Latin Americas debt and inflation are down. |
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Rawls's veil of ignorance |
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Conceptual tool that contributes to the moral compass that managers can use to navigate through difficult ethical dilemmas. |
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- to give somebody money or some other incentive to do something, especially something illegal or dishonest |
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- a world religion or philosophy based on the teaching of the Buddha and holding that a state of enlightenment can be attained by suppressing worldly desires |
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- an economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivation by profit |
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- the religion based on the life, teachings, and example of Jesus Christ |
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- the politicians who are elected to the lower houses of the U.K. and Canadian parliaments and represent all the people |
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- the Marxist-Leninist version of a classless society in which capitalism is overthrown by a working-class revolution that gives ownership and control of wealth and property to the state |
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- to convert a port, transport system, or industry so that it can handle standard-sized freight containers |
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- dishonest exploitation of power for personal gain |
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- somebody who initiates or finances new commercial enterprises |
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- the study of moral standards and how they affect conduct |
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- a belief in or assumption of the superiority of the social or cultural group that a person belongs to |
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- the quality of looking and behaving in ways conventionally thought to be appropriate for a woman or girl |
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- the total value of all goods and services produced within a country in a year, minus net income from investments in other countries |
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- having traits or qualities traditionally associated with men or boys rather than women or girls |
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- the central processing unit that performs the basic operations in a microcomputer, consisting of an integrated circuit contained on a single chip |
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- to transfer a business, property, or industry from private to governmental control or ownership |
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- the purchase by a company of labor or parts from a source outside the company rather than using the company's staff or plant. |
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- to transfer to private ownership an economic enterprise or public utility that has been under state ownership |
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- the system of imposing duties on imports into a country in order to protect domestic industries |
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- a political theory or system in which the means of production and distribution are controlled by the people and operated according to equity and fairness rather than market principles |
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