Quiz 1 Study Guide

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QUIZ I – STUDY GUIDE

IB-571 – Polychroniou • IMF (about):International Monetary Fund
• GATT/WTO (about):
General Agreement on Tariffs and Trade/ World Trade Organization • Culture (definition/character/origins/components)
Definition: Culture can be defi ned as a society’s accepted basis for responding to external and internal events. Most traditional defi nitions of culture center around the notion that culture is the sum

of the values, rituals, symbols, beliefs, and thought processes that are learned and shared

by a group of people,
Character:
Origins of Culture
A Culture’s Behavior & Attitudes
Determining societal response to External & Internal stimuli Constantly evolves
Affects management style
Origins:[pic]
Politico-economic philosophy
Social structure – Religion – Language – Education Power of Acculturation
Intercultural Permeation – Sociopolitical Homogenization Components:
[pic]
Culture satisfies needs
Learned at an Early Age
Shared through Institutions
Cultural Homogeneity

• Individualism/Collectivism
The Individualism/Collectivism dimension has proven the most useful of the four dimensions, justifying entire books on the subject

The Individualism/Collective Index refers to the preference for behavior that promotes one’s self-interest.

• Effects of technology on economic growth
• How culture impacts life3
What and How Culture is affected
Politico-economic philosophy
Social structure – Religion – Language – Education Power of Acculturation
Intercultural Permeation – Sociopolitical Homogenization • Culture & management style
Authority and Decision Making

Management Objectives and Aspirations

• Security and Mobility.

• Personal Life.

• Affiliation and Social Acceptance.

• Power and Achievement.

• Face-to-Face Communication.

• Internet Communications

Formality and Tempo

P-Time versus M-Time

Negotiations Emphasis

Marketing Orientation

• Adaptation (about)5
What is Adaptation
Acceptance of a foreign environment
Why Adapt
Avoid loss of opportunity
Great market Penetration
• M-time vs. P-time (what they are)5
Monochronic Time
AGENDA culture – One Task – Western/Northern – Low Context Polychronic Time
Relationship – Multiple Tasks – Eastern-Southern – High Context • Imperatives/Adiaphora/Exclusives (what they are)5
Cultural Imperatives
Customs to be observed
Cultural Adiaphora
Customs that are Discretionary
Cultural Exclusives
Actions that should not be pursued
• American management thought (what principle is based on) “Master of destiny” viewpoint.

• Independent enterprise as the instrument of social action.

• Personnel selection and reward based on merit.

• Decisions based on objective analysis.

• Wide sharing in decision making.

• Never-ending quest for improvement.

• Competition producing effi ciency.
• Values of the American business system
A key value underlying the American business system is reflected in the notion of a

never-ending quest for improvement .
Perhaps most fundamental to Western management practices is the notion that competition

is crucial for effi ciency , improvement, and regeneration • Bribery/Extortion/Subornation/Lubrication5
Bribery
UNLAWFUL advantage
Subornation
To commit an ILLEGAL act
Extortion
Payment extracted under DURESS
Lubrication
SMALL sum of money offered for achieving a LAWFL goal • Global/international commerce (conditions for growth)3 Politico-economic...
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