Peng_Chapter 3 - OpeningCase WHEREDOINFORMALINSTITUTIONS...

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Opening Case
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WHERE DO INFORMAL INSTITUTIONS  COME FROM? Informal institutions   - cultures, ethics, and norms ethnocentrism   -   self-centered mentality within a society;  people tend to perceive their own culture, ethics, and norms as  “natural, rational, and morally right”
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CULTURE National Culture  -  national identity of nation-states Prof. Geert Hofstede : “the collective programming of the  mind which distinguishes the members of one group or category  of people from another.”
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LANGUAGE lingua franca   - dominance of one language as a global  business language English-speaking countries contribute the largest share of global  output globalization calls for the use of one common language nonnative speakers of English who can master English  increasingly command a premium in jobs and compensation
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RELIGION set of common beliefs and practices generally held by a group 
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Peng_Chapter 3 - OpeningCase WHEREDOINFORMALINSTITUTIONS...

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