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International Business notes week 4

by: Jessica Notetaker

International Business notes week 4 INTB

Marketplace > University of Colorado Colorado Springs > 3600 > INTB > International Business notes week 4
Jessica Notetaker
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About this Document

In class lecture notes
International Business
Carol Finnegan
Class Notes
International, business, INTB




Popular in International Business

Popular in 3600

This 2 page Class Notes was uploaded by Jessica Notetaker on Monday September 12, 2016. The Class Notes belongs to INTB at University of Colorado Colorado Springs taught by Carol Finnegan in Fall 2016. Since its upload, it has received 15 views. For similar materials see International Business in 3600 at University of Colorado Colorado Springs.


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Date Created: 09/12/16
INTB- Chapter 3  Differences in culture o It is important to be cross-culturally literate  know differences in cultures, especially in business practices and how it will affect your business o Risks of International Business  Cross-cultural risk  Commercial risk  Currency (Financial) risk  Country Risk o Cross-cultural proficiency is important for  Manufacturing and marketing in other countries  Deciding which foreign distributors to use  Negotiating and structuring business ventures going global  Interacting with international customers (current and future) o Cross-cultural challenges  Life-time employment assumptions  Hard to fire  Pay for performance vs seniority systems  Union and management relationships  Attitudes toward ambiguity  How much instructions (guidance) needed  Culture: a way of living passed on from generation to generation o Reason they think/reason the way they do o Conscious and unconscious o Acted out in social institutions o Can be physical (clothing, tattoos) and nonphysical (religion, attitudes, belief, etc.)  Social Institutions o Family (interactions, obligations change) o Governments o Religion o How they do business o Education  Arts o Meanings of colors change o Music is different (affects how advertising is done)  Culture just IS! o Not right or wrong (peoples perceive the world differently) o Not about individual behavior o Not inherited (taught)  Hofstede’s 5 Dimensions of culture o Individualis8tic vs Collectivistic o High power differences (accepts wide differences in powers) vs low power distances (downplays inequality, not afraid or in awe of the boss) o High uncertainty avoidance vs low uncertainty avoidance o Achievement (values money and competition) vs Nurturing (values relationships) o Short term orientation (value past/tradition) vs long term orientation (future value, persistence)  Attitudes: learned behavior to respond to a situation consistently in a certain way  Beliefs: what you think Is true about the world  Value: a specific mode/way of acting that is personally or socially preferred (how you think people should act)  Norms: social rules/guidelines that define appropriate behaviors o Folkways: social conventions (miss manners) o Mores: serious social rules (very bad things rape, kidnapping, etc.)  Shape a culture o Language o Religion o Education o Social structure o Economic philosophy o Political philosophy  Socialization: learning rules and behaviors appropriate to society  Acculturation: adjusting or adopting to a different culture


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