Test #2 Study Guide - INTL 3313 INTERNATIONAL BUSINESS UNIT...

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INTL 3313 INTERNATIONAL BUSINESS UNIT TEST 2 STUDY GUIDE – FALL 2013 Test Format: This test is composed of true/false and multiple-choice questions. It will be administered via Blackboard using Respondus Lockdown Browser. Because of limited electrical outlets in the classroom, please be sure to have your laptop fully charged prior to the test. Chapter 4: Cultural Differences Understand the difference between the concepts of values, folkways and mores. o Values: Abstract ideas about what a group believes to be good, right and desirable. OR Shared assumptions about how things ought to be. o Norms: social rules and guidelines that prescribe appropriate behavior in particular situations. o Folkways : Routine conventions of everyday life. Little moral significance. Such as dress codes, social manners, and neighborly behavior. o Mores : Central to the functioning of society. Greater significance. Violation can bring serious retribution. Theft, adultery, incest and cannibalism. Understand the basic tenets/beliefs of the each of the world’s major religions (Christianity; Islam; Hinduism; Buddhism; and Confucianism) and, most importantly, understand how they relate to business. o Christianity Catholicism Protestant Eastern Orthodox o Islam o Hinduism o Buddhism Understand the concepts of class systems; caste stratification; and social mobility.
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INTL 3313 INTERNATIONAL BUSINESS UNIT TEST 2 STUDY GUIDE – FALL 2013 o Social stratification – categorization based on birth, occupation, educational achievements o Social mobility – ability to move from one stratum of society to another Understand the concept of Guanxi o Guanxi describes the basic dynamic in personalized networks of influence, and is a central idea in Chinese society. In Western media, the pinyin romanization of this Chinese word is becoming more widely used instead of the two common translations—"connections" and "relationships"—as neither of those terms sufficiently reflects the wide cultural implications that guanxi describes. Know what the Foreign Corrupt Practices Act is, what it prohibits and what it allows. o In the United States, companies must adhere to the Foreign Corrupt Practices Act, a federal law that specifically bans any form of bribery. Even foreign companies that are either listed on an American stock exchange or conduct business with the US government come under the purview of this law. Know the various dimensions of classifying culture promoted by Hofstede. o Social Orientation Relative importance of the interests of the individual versus interests of the group o Power Orientation Appropriateness of power/authority within organizations o Uncertainty Orientation An emotional response to uncertainty and change o Goal Orientation What motivates people to achieve different goals o Time Orientation The extent to which members of a culture adopt a long-term or a short-term outlook on work and life Chapter 7: Foreign Currency Exchange & International Capital Markets
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  • Fall '13
  • JefferySimmons
  • Exchange Rate, Foreign exchange market

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