1.. Identify the five cultural dimensions identified by Geert Hofstede and describe them indicating their importance in international business. 2.. Compare the advantages and disadvantages of various modes of entering foreign markets. 3.. Why do we have international strategic alliances? What are the forms and their respective advantages and disadvantages? ---------------- 4.. Consider a firm facing a make-or-buy decision‚ Provide 2 potential benefits and 2 risks that the firm may face from outsourcing
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International business exam notes UNIT 1 History of Canadian Trade European Trade * 1700s – trades grew fast after permanent Canadian settlement * Demand for raw materials (beaver pelts‚ fish‚ lumber) * Europe manufactured Canada’s raw materials * After 7 years war‚ England and Canada made trade agreements (help war torn France) * near-port cities used to facilitate trade import/exports US trade * Late 1700s‚ US independence
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ETHICS ETHICAL ISSUES IN INTERNATIONAL BUSINESS Many of the ethical issues and dilemmas in international business are rooted in the fact that political systems‚ law‚ economic development‚ and culture vary significantly from Nation to nation. Consequently‚ what is considered normal practice in one nation may be considered unethical in others. Because they work for an institution that transcends National borders and cultures‚ managers in a multinational firm need to be particularly sensitive
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pressure to adapt regional thinking in to their management strategies. The current activity of international exports and imports gives a glimpse in to future what the form of business organizations will be where globalization will affect even in to small national import company’s strategies. One of the biggest challenges when operating business globally is understand and benefit from cultural differences. Culture clash Culture can be seen as the sum of the beliefs‚ rules‚ techniques‚ institutions
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Individualism . Give a country or region that would be different from the US for each of the three variables. Ans.: It is quite easy for conflict to occur because people in the same workplace are from different cultural backgrounds. * Time: they are differences in temporal value. In the United States everything is about time. The have a monochromic culture‚ which means that time is experienced in a linear way- meetings are begin on time and assignment are due on time. The United States concentrate on one
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Culture wise‚ however‚ some similarities can still be found‚ although generally the two countries are nevertheless drastically different. Every day‚ there are a numerous business meetings being held between Thais and Germans. Therefore‚ in this essay‚ a meticulous analysis on the people from the two countries will be carried out to discover the cultural differences and similarities. Thailand scores 20 on
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Comparison: International Business Negotiation (China & USA) Word count: 3134. Introduction: With the globalization of world businesses‚ China has become an appealing market for foreign investors. The problem of cross-cultural management arises as the cooperation between China and its culturally different Western partners continues to increase at an unprecedented rate. This paper presents an understanding on the general cultural differences between United States of America and People ’s
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Athens vs. Sparta Athens and Sparta in contrast had many similarities and differences such as the view on women‚ politics‚ economy and military structure. Sparta and Athens each had similarities and differences regarding the status and view of women in society. Women in Sparta were judged on their physique and physical and athletic state. Women in Sparta had designated arenas in which they would exercise and compete in athletic tournaments‚ usually secluded from the men who were out training
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International Business and Europe Introduction In this assignment I will be concentrating on International Business and the European Union and how it has an effect on businesses in the U.K. The aim of the assignment to use a U.K based organisation as a scenario. I will be writing the assignment based on a report for the Board of Directors from my chosen company. The company I have chosen is a vehicle manufacturer called Octopus Vehicle’s. They currently have been given the opportunity to
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the most popular and most recognized religions in the world. When talking about these two religions‚ a lot of differences come to mind. Not to many people think that they have any similarities‚ but that’s where they’re wrong. Buddhism and Islam have many similarities‚ you just have to really dig deep into them‚ that is why I am going to expose some of their similarities. Their similarities include the concepts of the Divine‚ belief about the human condition‚ the message they taught to both their followers
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