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Unformatted text preview: International Business Unit 1: The World of International Business Chapter 1: What Is International Business? Chapter Summaries Business is any activity that seeks profit by providing goods or services to others. International business is any activity involving business operations across national borders. The historical origins of international commerce are found throughout the world and in most of recorded history. The major factors that influence international trade include social, cultural, political, legal, and economic factors. The levels of participation in international trade are the involvement of individual consumers, companies, states or provinces, and countries. Settings in which international business affects people include the local, state or provincial, national, and international. Culture, history, labor unions, and government regulations are all sources of issues that affect ethics in international business. Chapter 2: Cultural and Social Influences Chapter Summaries The cultures of both trading partners can affect every aspect of a business relationship. The basic elements of cultures are values, norms, folkways, mores, and roles. The subcultures of a country may be formed around geographical regions, political subdivisions, musical tastes, religious beliefs, and many other orientations. The social institutions of a country are the organizations that represent and the patterns of activity that express the country's culture. The effects of stereotyping and cultural bias can be overcome by making efforts to communicate with and understand people from other cultures or countries. Cultural literacy can begin by eliminating ethnocentrism from an individual's thinking processes. Chapter 3: International Communications Chapter Summaries Verbal communication is sending messages by using words while observing the feedback offered by the receiver. Verbal communication challenges include how quickly people speak as well as how much slang they use, differences in technical terms, waiting for translations, understanding how social behaviors affect communication, and other challenges such as noun-verb usage. Verbal communication strategies include effective use of key phrases, names, titles, ranks, and business cards; and consideration of differences in time zones and currencies. Nonverbal communication is sending messages without the use of words. There are a many cultural differences that affect nonverbal communication, including interpretation of numbers, emblems, personal appearance, colors, smells, and foods. International Business Nonverbal communication in a culture can take place through time, silence, space and personal space, and body and eye....
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- Spring '10