#14: Customs and Culture
Customs: The social habits and traditional behaviour of a people that reflect their cultural values.
Cultural Determinants: Factors that shape a countrys culture. Including geography, history, intellectual property
#1: Chapter One - International Interdependence
Capital Intensive Industry: An industry that requires substantial amount of money (capital) to start or operate.
Currency Exchange Rate: The rate at which one currency can be exchanged for another
#7: Infrastructure and Services
Infrastructure: The large-scale public systems, services and facilities of a country or region that are necessary
for economic activity.
Ex. roads, hospitals, schools
Necessary for importing and exp
#8: Canadas Global Challenge
Page 98 #1c, 2ab, 3ab
1. C) In your opinion, what is Canadas global challenge in the 21st century? How do you think
Canada can address this challenge?
I think that Canadas global challenge is coming up with new, innovative and
#9: Quality Control and Continual Improvement
Page 103 # 1ab, 2a, 3abc
1. A) What is kaizen?
Kaizen: The belief that to gain competitive advantage, there must be a commitment to quality. Kaizen promotes
everyone working together to make improvements and i
#6: Economic Development
Economic Development: Ask these questions when looking a countrys economic development.
Income and growth?
Poverty and inequality?
Health and happiness?
Political rights and freedoms?
6.9 billion peopl
#2: Trading with Cuba
Page 37 #1-3
1. What uncommon trade barriers do Canadian businesses have to overcome to trade with Cuba?
Some uncommon trade barriers that Canada has to face in order to trade with Cuba are: having to deal
through the government inst
#3: Why Do Companies Expand Internationally and Establishing a Global Presence
Page 53 #3abc
1. A) List three possible ways that companies can save costs by operating in other countries.
Three possible ways that companies can save costs through operating
#3: Evolution of Global Trade
Communes: Self-sufficient communities based on the principles of communal property and shared
responsibility for food production, education, child care, etc.
Guild: Associations of merchants and craftspeople starte
#10: Occupy Wall Street
The Occupy Wall Street movement started in the United States but has since expanded into numerous
countries around the world, including Canada.
The protestors/occupiers are people protesting the distribution of wealth among the po
#11: Understanding International Opportunities
1. List and describe the four steps of the product innovation process.
Idea Creation: New knowledge forms around basic discoveries, extensions of existing understanding or
spontaneous creativity made possibl
#17: Ethical Issues and the Conduct of International Business
MNCs have an ethical responsibility to preserve clean air, water and soil
Union Carbide in Bhopal 1984
Exxon Valdez 1989, BP in the gulf of Mexico 2010
#18: Taking Action Ethically
Non-Governmental Organization (NGO): Groups that are not associated with government and that work to
bring about change.
Non-Profit Organization (NPO): An organization not created for or involved in making a profit.
#19: The Canadian Governments Role in International Business
The governments role is directed through the Department of Foreign Affairs and International Trade
(DFAIT) and its various ministries and services.
Implement the Global Commer
#16: Global Business Ethics and Social Responsibility
Business Ethics: Ethics as applied to business, with regard to the treatment of employees, society, stock-holders
Code of Ethics: The principles on which members of an organiz
#15: Canadas Trading Partners Focus on North and South Korea
Economic Conditions in Korea and Prospects for International Business Activity:
Centrally planned economy
Low standard of living
There is potent
#12: Foreign Direct Investment (FDI)
What is Foreign Direct Investment?
Direct investment in productive assets in a country (host) by a company based in a foreign country (home).
The company can affect the managerial decisions of the foreign operation.
#13: Identifying International Opportunities and Trends
Page 193 #1abc, 2ab, 3a
1. A) Identify three ways global entrepreneurs can achieve a global mindset.
Global entrepreneurs can achieve a global mindset by:
Being open to new ideas from other countrie
#5: The Political Process The Governments Role in International Trade
Page 279 #1c, 2b, 3ab
1. C) Explain how hostilities between countries interfere with the smooth running of international
Hostilities between countries can interfere with inter