Chapter 3 Vocab - Global Business

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1
Informal institution
Institution represented by culture of norms
2
Ethnocentrism
A mentality of a group of people who perceive their culture, norms, and ethics to be natural, rational, and morally right
3
Culture
The collective programming of the mind that distinguishes one group of people from another
Language, religion, social structure, education
4
Lingua Franca
a global business language
5
Social Structure
The way a society broadly organizes its members
6
Social Stratification
The hierarchical arrangement of individuals into categories (strata) such as classes, castes, and divisions within society
7
Social Mobility
The degree to which citizens from a lower social category can rise to a higher status
8
Context
The underlying background upon which social interaction takes place
9
Low-Context Culture
A culture in which communication is taken at face value without much reliance on unspoken context
10
High Context Culture
A culture in which communication relies a lot on unspoken context; it is almost as important as the words themself
11
Cluster
countries that share similar cultures
12
Civilizations
the higher cultural grouping of people the broadest level of cultural identity people have
13
Power Distance
The extent to which less powerful members in a country accept and expect that power is distributed unequally
14
Individualism
the idea that an individual's identity is fundamentally his or her own
15
Collectivism
the idea that an individual's identity is fundamentally tied to the identity of his or her colective group
16
Masculinity
a relatively strong form of societal-level sex role differentiation whereby men tend to have occupations that reward assertiveness and women work in caring professions
17
Femininity
A relatively weak form of societal-level sex role differentiation whereby women tend to have roles that reward assertiveness and men work in caring professions
18
Uncertainty avoidance
The degree to which members of a country avoid or accept uncertainty or ambiguity
19
Long-term Orientation
Dimension on how much emphasis is places on perseverance and saving for future betterment
20
Ethics
the principles, standards, and norms of conduct that govern individual and firm behaviour
21
Code of conduct
a set of guidelines for making ethical decisions
22
Ethical Relativism
A perspective that suggests ethics are relative
23
Ethical Imperialism
A perspective that suggests that there is only one set of ethics and "we have it"
24
Corruption
The abuse of public power for private benefits, usually in the form of bribery
25
Foreign Corruption Practices Act
A US law enacted in 1977 that bans bribery of foreign officials
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Strategic responses to ethical challenges
Reactive; defensive; accommodative; proactive
27
In-Group
Individuals and firms regarded as part of "us"
28
Out-Group
Individuals and firms not regarded as part of "us"
29
Cultural Intelligence
An individual's ability to adapt to and understand new cultures
30
Rule of thumb when venturing overseas
- Be prepared; Slow down; Establish trust; understand the importance of language; Respect cultural differences; understand no culture is superior to others in all aspects
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