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Questions and Answers
What are the two main drivers of globalization mentioned in the text?
What are the two main drivers of globalization mentioned in the text?
- Cultural exchange and geopolitical alliances
- Liberalization and technological revolution (correct)
- Global migration and financial integration
- International trade and labor unions
How is globalization described in the text?
How is globalization described in the text?
- A term with a single, universally accepted definition
- A phenomenon limited to commercial exchanges
- A process of growing integration and interdependence of nations (correct)
- A one-sided process of cultural dominance
What are the two important growth factors for globalization mentioned in the text?
What are the two important growth factors for globalization mentioned in the text?
- Cultural exchange and geopolitical stability
- Liberalization of international exchanges and innovation of major technologies (correct)
- Financial integration and labor mobility
- Technological revolution and global migration
What is the gravity model of international predicting, according to the text?
What is the gravity model of international predicting, according to the text?
What was the aim of liberalization initiated after WWII?
What was the aim of liberalization initiated after WWII?
What was the purpose of the Bretton Woods agreement negotiated in 1944?
What was the purpose of the Bretton Woods agreement negotiated in 1944?
What led to the creation of international organizations such as the IMF, World Bank, and GATT (later WTO)?
What led to the creation of international organizations such as the IMF, World Bank, and GATT (later WTO)?
What has led to economic integration and reduced trade costs among countries?
What has led to economic integration and reduced trade costs among countries?
What contributed to the considerable decline in maritime transport costs?
What contributed to the considerable decline in maritime transport costs?
How have telecommunications costs fallen significantly?
How have telecommunications costs fallen significantly?
What has been a nearly universal fact due to the reduction in tariffs?
What has been a nearly universal fact due to the reduction in tariffs?
What does the Chinn-Ito index measure?
What does the Chinn-Ito index measure?
What does Hofstede's Theory of Cultural Dimensions identify?
What does Hofstede's Theory of Cultural Dimensions identify?
What is the focus of Long-Term Orientation according to Hofstede's Theory?
What is the focus of Long-Term Orientation according to Hofstede's Theory?
What does Uncertainty Avoidance measure?
What does Uncertainty Avoidance measure?
What does Indulgence vs. Restraint reflect?
What does Indulgence vs. Restraint reflect?
What does the technological divide refer to?
What does the technological divide refer to?
Which historical trade route facilitated economic, cultural, political, and religious interactions between the East and West?
Which historical trade route facilitated economic, cultural, political, and religious interactions between the East and West?
What are three false ideas about globalization?
What are three false ideas about globalization?
What period is referred to as the 'first golden age of globalization'?
What period is referred to as the 'first golden age of globalization'?
What brought both stability and limitations to money supply during the 'first golden age of globalization'?
What brought both stability and limitations to money supply during the 'first golden age of globalization'?
What contributed to the first globalization?
What contributed to the first globalization?
What resulted in access to cheap and abundant raw materials for European powers from 1870 to 1914?
What resulted in access to cheap and abundant raw materials for European powers from 1870 to 1914?
What has led to increased wealth, but has not been equally distributed, contributing to inequality?
What has led to increased wealth, but has not been equally distributed, contributing to inequality?
What theorem demonstrates how changes in the prices of goods can generate inequality in trade?
What theorem demonstrates how changes in the prices of goods can generate inequality in trade?
What can lead to protectionism and hinder globalization?
What can lead to protectionism and hinder globalization?
According to the WTO, what has been on the rise in recent years?
According to the WTO, what has been on the rise in recent years?
What brought relative peace and increased trade among great powers during the 'first golden age of globalization'?
What brought relative peace and increased trade among great powers during the 'first golden age of globalization'?
What has evolved over time, with higher trade volumes and changes in the composition of traded goods?
What has evolved over time, with higher trade volumes and changes in the composition of traded goods?
What has slowed in recent years, according to the WTO?
What has slowed in recent years, according to the WTO?
What is the main purpose of the liberalization process initiated after WWII with the Bretton Woods agreements?
What is the main purpose of the liberalization process initiated after WWII with the Bretton Woods agreements?
Which cultural dimension measures a culture's acceptance of hierarchical authority?
Which cultural dimension measures a culture's acceptance of hierarchical authority?
What does individualism vs. collectivism measure?
What does individualism vs. collectivism measure?
Which theory provides a framework for understanding cultural differences, including dimensions like power distance, individualism vs. collectivism, and masculinity vs. femininity?
Which theory provides a framework for understanding cultural differences, including dimensions like power distance, individualism vs. collectivism, and masculinity vs. femininity?
What is the main role of cross-cultural knowledge in international business?
What is the main role of cross-cultural knowledge in international business?
Which dimension of Hofstede's Theory of Cultural Dimensions reflects the distribution of emotional roles between genders?
Which dimension of Hofstede's Theory of Cultural Dimensions reflects the distribution of emotional roles between genders?
What does the dimension of masculinity vs. femininity in Hofstede's Theory of Cultural Dimensions value?
What does the dimension of masculinity vs. femininity in Hofstede's Theory of Cultural Dimensions value?
What does power distance measure in a culture?
What does power distance measure in a culture?
What is a crucial aspect of cross-cultural knowledge in international business?
What is a crucial aspect of cross-cultural knowledge in international business?
What is the extent of individual rights emphasized in individualistic cultures?
What is the extent of individual rights emphasized in individualistic cultures?
What cultural dimension reflects the extent to which people feel independent or interdependent as members of larger groups?
What cultural dimension reflects the extent to which people feel independent or interdependent as members of larger groups?
What is the main focus of Hofstede's Theory of Cultural Dimensions?
What is the main focus of Hofstede's Theory of Cultural Dimensions?
Which of the following is a common challenge in cross-cultural teams?
Which of the following is a common challenge in cross-cultural teams?
Choose the INCORRECT statement:
Choose the INCORRECT statement:
What is the Industrial Production Index (IPI) used for?
What is the Industrial Production Index (IPI) used for?
The HALE measure we discussed in class measures…
The HALE measure we discussed in class measures…
Choose the INCORRECT statement:
Choose the INCORRECT statement:
Which of the following are part of the “5 Ps” of sustainable development?
Which of the following are part of the “5 Ps” of sustainable development?
What are the two main drivers for the latest globalization?
What are the two main drivers for the latest globalization?
Which one of these is the most correct?
Which one of these is the most correct?
What does the human development index include?
What does the human development index include?
What was the aim of liberalization initiated after WWII?
What was the aim of liberalization initiated after WWII?
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Study Notes
Global Business and Cross-Cultural Work
- Capital account is based on dummy variables representing restrictions on cross-border financial transactions reported in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER).
- Liberalization process initiated after WWII with the Bretton Woods agreements, aiming for world peace through wealth sharing.
- Technological revolution, particularly in information technology, is reshaping businesses and market structures, allowing opportunities for non-dominant firms to become dominant.
- Remote work is on the rise, with 71% of companies planning to permanently allow some amount of remote work.
- Culture is an integrated system of learned behavior patterns that shape how people perceive the world, interact, and make decisions, and it plays a crucial role in international business.
- Cross-cultural knowledge is essential for communication, business etiquette, decision-making, leadership, and consumer behavior in international business.
- Hofstede's Theory of Cultural Dimensions provides a framework for understanding cultural differences, including dimensions like power distance, individualism vs. collectivism, and masculinity vs. femininity.
- Power distance measures a culture's acceptance of hierarchical authority, with high power distance cultures respecting authority and hierarchy, and low power distance cultures preferring equality and questioning authority.
- Individualism vs. collectivism measures the extent to which people feel independent or interdependent as members of larger groups, emphasizing individual rights in individualistic cultures and group cohesion and loyalty in collectivist cultures.
- Masculinity vs. femininity is a cultural dimension that reflects the distribution of emotional roles between the genders, with masculine cultures valuing assertiveness and achievement, and feminine cultures valuing relationships and quality of life.
- Cross-cultural knowledge is crucial for avoiding misunderstandings, building trust, enhancing negotiations, expanding global markets, and managing multinational teams in international business.
- Hofstede's Theory of Cultural Dimensions also includes dimensions like uncertainty avoidance, long-term orientation vs. short-term orientation, and indulgence vs. restraint to explain cultural differences in values, beliefs, and behaviors.
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