Cultural Environment Chapter 5

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Questions and Answers

What is the primary characteristic of representative democracy?

Elections are held without public participation.

The government owns all major industries.

Citizens have no role in government decision-making.

Citizens vote to elect representatives. (correct)

Which economic ideology involves government ownership of major factors of production?

Socialism

Individualism

Communism (correct)

Capitalism

What does social stratification refer to?

Consensus among individuals in group settings.

The balance of political power in a government.

The way society relates to religion.

Control exerted by the upper classes over others. (correct)

In which type of government do individuals govern without the support of the citizenry?

Totalitarian government Signup and view all the answers

What is meant by power distance in a society?

The extent of egalitarianism within the society. Signup and view all the answers

Which term describes the importance of relationships over rules in business practices?

Particularism Signup and view all the answers

What is capitalism characterized by?

Private ownership and minimal government interference. Signup and view all the answers

What is the focus of antitrust law?

Promoting fair competition among businesses. Signup and view all the answers

What is macropolitical risk?

Political risk affecting all businesses in a country Signup and view all the answers

What does collusion typically involve?

Secretly working together to hinder competition Signup and view all the answers

Which law provides US businesses with government insurance coverage for terrorism risk?

Terrorism Risk Insurance Act of 2002 Signup and view all the answers

What does the term 'Caveat Emptor' mean?

Buyer beware Signup and view all the answers

What is the significance of the US International Development Financial Corporation?

It sells political risk insurance to US businesses abroad. Signup and view all the answers

What is considered a monopoly?

A situation with a single seller in an industry Signup and view all the answers

What does public corruption refer to?

Engagement in dishonest practices with government officials Signup and view all the answers

What is the purpose of the Product Safety Law?

To establish standards of product safety Signup and view all the answers

What does the term acculturation refer to?

The ability of a firm to adjust to a culture different from its own. Signup and view all the answers

What is arbitration?

An alternative dispute resolution process Signup and view all the answers

Which of the following best describes the concept of achievement vs ascription?

Social status is granted based on place in society rather than performance. Signup and view all the answers

Which element of culture refers to the ways a society expresses emotions?

Neutral vs Emotional Signup and view all the answers

What does the Foreign Corrupt Practices Act prohibit?

Corrupting foreign government officials Signup and view all the answers

What does the Korean philosophy of Inwha emphasize?

Harmony among unequals and loyalty to authority figures. Signup and view all the answers

Which legal system is based on a comprehensive listing of legal rules?

Civil Law Legal System Signup and view all the answers

What is a primary characteristic of Athenian Democracy?

Direct voting by all adult citizens on community issues. Signup and view all the answers

What is a patent?

A right excluding others from using an invention Signup and view all the answers

Which of the following is NOT considered a primary element of culture?

Sports Signup and view all the answers

What characterizes a trademark?

A distinctive identification for services or products Signup and view all the answers

What does the term 'backward translation' refer to?

Checking the accuracy of a translation by converting it back to the original language. Signup and view all the answers

What defines a genericized trademark?

A trademark become widely used for a general class of products Signup and view all the answers

What distinguishes material culture from other aspects of culture?

It results directly from technological advancements. Signup and view all the answers

Which law establishes which violations are crimes?

Criminal Law Signup and view all the answers

What type of law governs legally enforceable agreements?

Contract Law Signup and view all the answers

Study Notes

The Cultural Environment

Neutral vs Emotional: Differentiates societies based on emotional expression levels.
Culture: A learned behavior encompassing the lifestyle of a specific group.
Specific vs Diffuse: Relates to how societies compartmentalize roles and responsibilities.
Acculturation: Firm's adaptation process to a different culture.
Achievement vs Ascription: Distributes value based on performance versus societal position.

Elements of Culture

Language: Both verbal and nonverbal communication methods.
Religion: Influences values and societal structures.
Values and Attitudes: Core beliefs held by members of a society.
Manners and Customs: Established societal practices and behaviors.
Material Elements: Reflect technological advancements and their societal implications.
Aesthetics: Standards of beauty and taste in a culture.
Education: Access to knowledge shaping societal roles and expectations.
Social Institutions: Frameworks that dictate interpersonal relationships.
Inwha: Korean philosophy emphasizing loyalty and responsibility among social hierarchies.
Guanxi: Chinese concept of informal relationships and favor exchanges among individuals.

Backward Translation

A technique for verifying translation accuracy by translating back from a foreign language to English.

The Legal and Political Environment of Global Business

Values: Fundamental beliefs that shape behaviors in society.
Democracy: Government model where citizens participate in voting.
Athenian Democracy: The earliest form of direct democracy.
Representative Democracy: System where elected officials represent the populace.
Totalitarian Government: Regime governed without citizen consent, often through military power.
Communism: Economic system centered on state ownership of production.
Socialism: Government plays a significant role, owning stakes in various enterprises.
Capitalism: Economy characterized by private ownership and minimal government involvement.

Economic and Political Risks

Economic Risks: Potential negative impacts on business from local economic issues.
Political Risks: Risks from governmental changes or instability affecting business operations.
Micropolitical Risk: Affects specific industries or sectors within a country.
Macropolitical Risk: Impacts all businesses within a nation.
Antitrust Law: Legislation ensuring competition and preventing monopolistic practices.
Collusion: Secret agreements among firms to hinder competition.
Monopoly: Exclusive control over a market by a single entity.
Terrorism Risk Insurance Act of 2002: U.S. law affording business coverage against terrorism.
Product Safety Law: Sets standards for the safety regulations manufacturers must follow.

Corruption

Corruption: Involves illicit practices affecting decision-making in business and government.
Private Corruption: Involvement of corrupt practices among private sectors.
Public Corruption: Illegal actions by government officials affecting business processes.
Caveat Emptor: Principle placing the burden of product safety on consumers.
Caveat Venditor: Responsibility on sellers to ensure product safety.
Dispute Settlement Law: Governs resolution of global business disputes.

Legal Systems

Civil Law Legal System: Based on comprehensive statutes and written codes.
Common Law Legal System: Relies on precedents and judicial decisions.
Theocratic Law Legal System: Governs through religious codes and documents.
Intellectual Property: Protection of innovative creations through legal rights.
Patent: Exclusive rights granted to inventors for their inventions.
Trademark: Symbols or designs identifying and distinguishing products or services.
Genericized Trademark: Trademarks that evolve to describe general product categories rather than specific brands.

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Description

Explore the facets of the cultural environment in Chapter 5, focusing on how societies express emotions, compartmentalize roles, and undergo acculturation. This quiz will test your understanding of these cultural dynamics and their implications on social interactions.