Ramandeep Kaur
Global Business
Exam 1
Instructions: PLEASE ANSWER 20 OF THE FOLLOWING QUESTIONS.IDENTIFY
OR EXPLAIN BRIEFLY
1. Ethnocentrism: evaluation of other cultures according to preconceptions originating in
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the standards and customs of one's own culture. An example of ethnocentrism in culture
is the Asian cultures across all the countries of Asia. Throughout Asia, the way of eating
is to use chopsticks with every meal. These people may find it unnecessary to find that
people in other societies, such as the American society, eat using forks, spoons, knives,
etc.
Acculturation: Acculturation is a process of social, psychological, and cultural change
that stems from the balancing of two cultures while adapting to the prevailing culture of
the society. Acculturation is a process in which an individual adopts, acquires and adjusts
to a new cultural environment. Japanese people dressing in Western clothing is
an example of acculturation. The modification of the culture of a group or individual as a
result of contact with a different culture.
Monoethnic Culture: Monoethnic Culture is the existence of a single ethnic group in a
given region or country. It is the opposite of polyethnicity. China is the largest
predominantly Monoethnic country; 91.6% of the population are Han Chinese. An
example of a largely Monoethnic country is Japan.
High-Context Culture: High-context cultures will use communication that focuses on
underlying context, meaning, and tone in the message, and not just the words themselves.
Countries that fall into this categorization are Japan, China, France, Spain, Brazil, and
more.
Which countries have a high uncertainty avoidance: Greece, Japan, Mexico, France,
Israel, and Germany.
Femininity: Femininity is a set of attributes, behaviors, and roles generally associated
with women and girls. Although femininity is socially constructed, research indicates that
some behaviors considered feminine are biologically influenced.
Non-reparation of funds: However, today many companies
choose not to repatriate their offshore earnings in order to avoid corporate taxes charged
on repatriated funds. Individuals might also repatriate funds. Some U.S.
corporations repatriate funds from overseas translating the cash back to U.S. dollars.
Expatriation: An expatriate is a person residing in a country other than their native
country. In common usage, the term often refers to professionals, skilled workers, or
artists taking positions outside their home.
Privatization: Privatization can mean different things including moving something from
the public sector into the private sector. It is also sometimes used as a synonym for
deregulation when a heavily regulated private company or industry becomes less
regulated.
10. Nationalization: Nationalization is the process of transforming privately owned assets
into public assets by bringing them under the public ownership of a national government
or state. Nationalization usually refers to private assets or to assets owned by lower levels
of government being transferred to the state.
11. Domestication: Domestication is a sustained multi-generational relationship in which
one group of organisms assumes a significant degree of influence over the reproduction
and care of another group to secure a more predictable supply of resources from that
second group.
12. Extraterritoriality: In international law, extraterritoriality is the state of being exempted
from the jurisdiction of local law, usually as the result of diplomatic negotiations.
Historically, this primarily applied to individuals, as jurisdiction was usually claimed on
peoples rather than on lands.
13. Helms-Burton Act: The Cuban Liberty and Democratic Solidarity Act of 1996, is a
United States federal law which strengthens and continues the United States embargo
against Cuba.
14. Webb-Pomerene: The Webb-Pomerene Export Trade Act of 1918 was intended to
benefit U.S. exporters by allowing companies to form export trade associations, with
qualified exemption from antitrust litigation, to effectively compete in world markets and
thereby to enhance the U.S. position in international trade.
15. FCPA: The Foreign Corrupt Practices Act of 1977 is a United States federal law that
prohibits U.S. citizens and entities from bribing foreign government officials to benefit
their business interests.
16. VAT: A value-added tax, known in some countries as a goods and services tax, is a type of tax
that is assessed incrementally. It is levied on the price of a product or service at each stage of
production, distribution, or sale to the end consumer.
17. Command Economy: A command economy is a type of economic system where
investment, production and the allocation of capital goods takes place according to
economy-wide economic plans and production plans. A command economy may use
centralized, decentralized, participatory or Soviet-type forms of economic planning.
18. Product Liability: Product liability is the area of law in which manufacturers,
distributors, suppliers, retailers, and others who make products available to the public are
held responsible for the injuries those products cause.
19. Code Law: A code of law, also called a law code or legal code, is a type of legislation
that purports to exhaustively cover a complete system of laws or a particular area of law
as it existed at the time the code was enacted, by a process of codification.
20. Coalition: an alliance for combined action, especially a temporary alliance of political
parties forming a government or of states.