MGT278 Mid-term Exam Review: International Business and Cultural Environments

Vocabulary flashcards covering core international business topics, political regimes, economic systems, and cultural dimensions for MGT278.

Globalization

The interconnectedness and integration of countries through international trade, investment, technology, communication, and culture.

De-globalization Forces

Recent trends and actions that counter global integration, consisting of tariff restrictions, nationalism, immigration reshoring, and economic sanctions.

Four States of Democracy

The four levels used to classify political systems: Full Democracy, Flawed Democracy, Hybrid Regime, and Authoritarian Regime.

Flawed Democracy (Classified Countries)

The democratic classification that applies to the United States, Brazil, India, and South Africa.

Authoritarian Regime (Classified Countries)

The political regime classification that applies to Russia and China.

One Country, Two Systems

The governance framework under which Hong Kong operates as a Special Administrative Region of the People's Republic of China (PRC).

Socialist-Oriented Market Economy

Vietnam's economic system, which is led by the Communist Party and features significant government control over economic planning.

Market-Based Mixed Economy

The United States economic system, characterized by central private ownership, prices and production determined by supply and demand, and resource allocation driven by competition.

Dharma

A foundational belief in Hinduism centered on duty and ethical conduct.

Karma

A foundational belief in Hinduism holding that actions have consequences.

Samsara

A foundational belief in Hinduism describing the continuous cycle of life, death, and rebirth.

Zen

A Buddhist concept and practice that emphasizes mindfulness, meditation, insight, and direct experience.

Zen-Generation (Zen Gen)

A demographic cohort in East Asia characterized as indifferent, unmotivated, and apathetic toward politics and careers.

Confucianism

An East Asian philosophical system based on respect for elders and authority, family loyalty, social harmony, clearly defined social roles, and the prioritization of relationships and obligations.

Taoism

A philosophy focused on living in harmony with the natural way of the universe (Tao), balancing the opposing forces of yin and yang, and overall simplicity.

High Power-Distance Culture

A workplace culture where employees accept hierarchical authority, managers are expected to make major decisions, subordinates are hesitant to challenge leadership, and communication flows from top seniority downward.

Collectivist Culture

A culture that prioritizes group goals and loyalty over individual success, emphasizes teamwork, and uses indirect criticism to save face and avoid embarrassment.

Indulgent Culture

A culture that places high value on leisure and work-life balance, where employees expect time off and opportunities for personal expression and enjoyment.

Uncertainty Avoidance

A cultural dimension characterized by a preference for clear rules, formal policies, detailed instructions, and a resistance to change in order to avoid the unknown.

Long-Term Orientation

A cultural dimension that values patience and persistence for future rewards, willingness to invest in sustained success, and preference for sustainable growth over immediate gains.

High-Context Culture

A communication environment where meaning is implied or indirect, subtle nonverbal cues are crucial, and trust is built over personal relationships.

Low-Context Culture

A communication environment where meaning is explicitly stated through direct verbal and written statements, and trust is established via clear agreements.

Erin Meyer’s Culture Map Behavioral Dimensions

The two behavioral dimensions identifying cultural differences: Emotionally Expressive vs. Emotionally Unexpressive, and Confrontational vs. Avoids Confrontation.

Caste System

A traditional social stratification structure present in India that impacts family, duty, and workplace relationships, and carries risks of discrimination.