History of Hip Hop and Global Business Management - Slide 9

A set of flashcards covering key terms and concepts from the lecture on hip hop history, global business management, and entrepreneurship.

Hip Hop

A cultural movement that began in the 1970s, characterized by elements such as rap music, DJing, breakdancing, and graffiti art.

DJ Kool Herc

One of the pioneers of hip hop, credited with hosting the first hip hop party in August 1973.

Sugarhill Gang

An American hip hop group that released 'Rapper's Delight' in 1979, recognized as one of the first commercially successful hip hop recordings.

Sylvia Robinson

Founder of Sugarhill Records, known for her significant contributions to the early development of the hip hop music industry.

A Tribe Called Red

An Ottawa-based band known for blending hip hop with Indigenous music, highlighted during the National Day for Truth and Reconciliation.

The Message

A hip hop song by Grandmaster Flash and the Furious Five released in 1982, recognized for its social commentary and considered one of the best hip hop tracks.

PESTLE

An acronym standing for Political, Economic, Social, Technological, Legal, and Environmental factors, used to analyze the macro-environmental factors affecting global business.

Balance of Trade

The difference in value between a country's total exports and total imports.

Free Trade Agreement

A pact between nations to reduce or eliminate trade barriers on goods and services to enhance trade between the countries.

Tariff

A tax imposed on imported goods, aimed at protecting domestic industries and generating revenue for the government.

Protectionism

Economic policy of restricting imports from other countries, often through tariffs and quotas, to protect domestic industries.

Multinational Firm

A business organization that operates in multiple countries, managing production or delivering services in more than one country.

Trade Deficit

A situation where a country's imports exceed its exports, leading to a negative balance of trade.

BRICS Nations

Refers to the group of emerging economies: Brazil, Russia, India, China, and South Africa, highlighting their economic collaboration.

Entrepreneurship

The process of starting and running one's own business, often involving innovation, risk-taking, and creating new products or services.

Local Content Laws

Regulations requiring that a certain percentage of a product be made locally within a foreign country.