UNIT3 BP2

Proxemics

The study of personal space and physical distance between people in communication.

Chronemics

The study of how a culture perceives, structures, and manages time.

Monochronic

An orientation focused on doing one task at a time, characterized by strict scheduling and high punctuality.

Polychronic

An orientation characterized by multitasking, flexible scheduling, and prioritizing personal relationships over strict timetables.

High-Context Culture

An indirect style of communication where meaning relies heavily on nonverbal cues, tone of voice, and reading between the lines.

Low-Context Culture

A direct style of communication where messages are explicitly stated, literal, and supported by detailed written documentation.

Factor Conditions

Natural resources and skilled human or technological inputs that provide a nation with a competitive edge.

Local Buyers & Demand

Sophisticated domestic consumer expectations and standards that pressure local companies to innovate early.

Rivalry

Intense domestic competition that compels companies to improve and innovate more rapidly.

Supportive Institutions

Organizations such as universities and public research centers that supply expertise and nurture ongoing innovation.

FDI (Foreign Direct Investment)

Cross-border business capital outlays influenced by host-country incentives, tax policies, restrictions, and tariffs.

Political Extremes

The polar opposing models of national governance, specifically totalitarianism and democracy.

Developed Market

An economy characterized by high personal income levels alongside strong, stable legal and physical infrastructures.

Emerging Market

A fast-growing economy that prioritizes expanding industrial product offerings and boosting export volume.

Developing Market

A lower-income economy that relies primarily on low-cost labor and basic raw material extraction.

Rule of Law

A governance metric assessing whether an effective, impartial legal framework exists to handle crime, contracts, and property rights.

Regulatory Quality

A governance metric evaluating how easily businesses can obtain permits, licenses, and operate without corrupt interference.

Currency Conversion

An indicator of how easily multinational enterprises can exchange funds and repatriate their profits out of a host country.