Understanding Religion and Globalization Concepts

Globalization, broadly, often leads to economic growth, job creation, and lower costs for consumers.

A movement opposing globalization, believing it's detrimental to certain interests or groups.

Despite potential gains, foreign investments come with inherent risks, including political uncertainty and evolving local economic conditions.

A strong connection between economies where challenges in one country can easily affect others.

Developing economies often show promising growth potential for foreign investment.

Companies from developing countries pose significant competition to those in developed economies.

Countries in Latin America's shift towards democracy and free markets enhances their appeal to foreign investors.

Falling trade barriers have led to a more interdependent global economy.

A system of shared beliefs and rituals that focus on the sacred or spiritual realm.

A set of moral principles used to guide behavior.

An ethical system provides a framework for making judgments, decisions, and actions based on moral values.

A realm that is considered holy, spiritual, or supernatural.

A fundamental belief about right and wrong conduct.

A term referring to the geopolitical landscape following the collapse of the Soviet Union and the spread of democracy and liberalism worldwide, starting in the 1990s.

He believed that the 'war of ideas' had ended with the triumph of liberal democracy over communism.

He argued that the world is divided into different civilizations, each with its own values and ideologies, leading to potential clashes.

The end of the Cold War and the decline of communism created a space for the rise of global economic integration, democracy, and liberalism.

Protestors believe globalization negatively affects living standards, wages, and the environment.

Managing an international business presents diverse challenges in marketing, HR, finance, and more.

Countries differ in their political systems, economic models, legal frameworks, and development levels.

Governments often regulate international businesses operating within their territories.

Foreign exchange rates significantly influence costs and pricing strategies in international markets.

International companies must incorporate sustainability into their global supply chain.

International companies should establish workplaces standards for employee health, safety,etc.

International businesses involve unique challenges across marketing, human resources, and finance, etc.

A cultural perspective that emphasizes patience, thrift, hard work, and respect for tradition over immediate gratification. It values delayed rewards and sustainable development.

A cultural perspective that focuses on immediate results, spending, and personal gratification. It values quick gains and short-term profits over long-term planning.

Another term for long-term orientation, emphasizing the importance of values like thrift, persistence, and hard work in achieving long-term goals.

Research findings that are limited to specific cultures and may not be generalizable to other populations. They can be influenced by cultural biases and perspectives.

The assumption that there is a direct correlation between a culture and a nation-state. This can be problematic as nations often have diverse cultures within their borders.

Government intervention aims to improve market outcomes by addressing market failures, promoting economic growth, and protecting consumer welfare.

Political arguments for government involvement often stem from public concerns about fairness, distribution of resources, and social objectives.

This argument suggests governments should protect new industries, allowing them to grow and become competitive, even if they face initial challenges.

Government strategies to influence international trade, aiming to gain an advantage for domestic companies by encouraging specific industries or supporting firms competing against foreign rivals.

A company benefits from being the first to enter a market or introduce a new product, gaining an advantage over competitors.

Government intervention aims to address market failures, like monopolies, externalities, or information asymmetry, and advance specific economic or social objectives.

Economic arguments focus on practical reasons for government involvement, aiming to improve market efficiency, promote economic growth, and create a level playing field for businesses.

Government intervention is justified when it can effectively address market failures, promote economic growth, and improve social welfare while minimizing potential drawbacks.