Financial Planning 5.03 Vocab part 2

Affective culture

A culture that tends to readily show emotions

Bribery

Making illegal payments intended to secure business or products in return

Collectivist society

A society in which people are integrated into strong, loyal groups, such as extended families

Corruption

Dishonesty; usually refers to dishonesty within governments or businesses

Culture

The customs, habits, and traditions of a particular group of people

Ethnocentrism

The belief that your own culture is naturally better than other cultures

“Feminine” culture

A culture that values “feminine” qualities, such as caring, quality of life, etc.

High-context culture

A culture that relies heavily on nonverbal communication to get messages across

Hofstede’s dimensions of national cultures

Measures of different aspects of society; based on the experience and research of Geert Hofstede

Idiom

Expressions that can’t be taken literally, such as “I’ll sleep on it”

Individualist society

A society in which group ties are loose and everyone is expected to take care of her/himself

Indulgence

A dimension of national culture that refers to the tendency to allow oneself to gratify desires or enjoy pleasures

Jargon

Specialized language known only to a certain group of people

Long-term oriented society

A society in which people focus on future rewards and value actions such as persistence and saving money; typically associated with Eastern cultures

Low-context culture

A culture that relies more on verbal communication than on nonverbal communication

“Masculine” society

A culture that values “masculine” qualities, such as assertiveness and status

Negotiation

The process of one party reaching an agreement with another party to meet specific needs or wants

Neutral culture

A culture that tends to keep emotions controlled and subdued

Nonverbal communication

Communication that uses body language instead of words or to support words

Organizational culture

The customs, traditions, and habits of employees working together at a particular firm

Power distance

A dimension of national culture that refers to how accepting less-powerful members of a society are of the inequality within the society

Price control

A government’s determination of what price a product can be sold for

Quota

A trade restriction that limits the quantity of goods that can move into or out of a country

Restraint

A dimension of national culture that refers to the tendency to exercise self-control over desires or regulate enjoyment

Short-term oriented society

A society in which people focus on the past or present and value things such as national pride and fulfilling social obligations; typically associated with Western cultures

Stereotyping

Generalizing people based on their cultural backgrounds

Subculture

A secondary group within a dominant culture

Tariff

A tax on imported goods; also called a duty

Uncertainty avoidance

A dimension of national culture that refers to a society’s tolerance toward uncertainty or insecurity

Verbal communication

Communication that involves the use of spoken words