Global Business Environment Test
Latest update 2024/2025
Are ethical systems dependent upon religion? - ANSWER-No (Ex. Confucianism)
Buddhism - ANSWER-- Founded in sixth century India by Siddhartha Gautama.
- He became the Buddha (Buddha = the awakened one)
- 350 million followers in central and southeast asia
-Doesn't support the caste system, but stresses the afterlife importance.
- Still not an entrepreneurial inspiring culture but more so than Hinduism.
Caste System - ANSWER-A system of social stratification in which social position is determined by the
family into which a person is born, and change in that position is usually not possible during and
individual's lifetime.
Chapter 1 - ANSWER-Globalization
Chapter 2 - ANSWER-National Differences in Political Economy
Chapter 4 - ANSWER-Differences in Culture
Civil Law - ANSWER-A system of law based on a very detailed set of written laws and codes. (Russia,
Romania)
Class Consciousness - ANSWER-A tendency for individuals to see themselves in terms of their class
backgrounds.
Class System - ANSWER-A system of social stratification in which social status is determined by the
family into which a person is born and by subsequent socioeconomic achievements; mobility between
classes is possible.
Clearly, Nigeria's corrupt government has been a major factor in the country's demise. In contrast, other
countries including Finland and Canada expressly prohibit corruption. In your opinion, would Nigeria be
better off following the example of countries like Finland and Canada? Why or why not? - ANSWER-Yes,
because corruption leads to lower foreign investment because there is no level playing field to calculate
a return on investment when so many variables are unpredictable. Controlling corruption would lead to
greater foreign investment and improve the economic standards of the Nigerian people.
Closing Case: Culture and Business in Saudi Arabia - ANSWER-Read it
,Global Business Environment Test
Latest update 2024/2025
Summary:
Closing Case: Legal Outsourcing - ANSWER-Read it
Collectivism - ANSWER-A political system that emphasizes collective goals as opposed to individual
goals.
Collectivism - ANSWER-Societies where people are born into collectives, such as extended families, and
everyone is supposed to look after the interests of his or her collectives.
Command Economy - ANSWER-: An economic system where the allocation of resources, including
determination of what goods and services should be produced, and in what quantity, is planned by the
government.
Common Law - ANSWER-A system of law based on tradition, precedent, and custom; when law courts
interpret common law, they do so with regard to these characteristics. (ex. U.S., India, Great Britain)
Communist Totalitarianism - ANSWER-A version of collectivism advocating that socialism can be
achieved only through a totalitarian dictatorship. (most widespread form, ex. Venezuela)
Communists - ANSWER-Those who believe socialism can be achieved only through revolution and
totalitarian dictatorship.
Confucian Dynamism (Long-term Orientation) - ANSWER-Theory that Confucian teachings affect
attitudes toward time, persistence, ordering by status, protection of face, respect for tradition, and
reciprocation of gifts and favors. The units of resources required to produce a good are assumed to
remain constant no matter where one is on a country's production possibility frontier.
Confucianism - ANSWER-Read all about it
Contract - ANSWER-A document that specifies the conditions under which an exchange is to occur and
details the rights and obligations of the parties involved.
Contract Law - ANSWER-The body of law that governs contract enforcement.
Copyrights - ANSWER-The exclusive legal rights of authors, composers, playwrights, artists, and
publishers to publish and disperse their work as they see fit.
Country Focus: Breaking India's Caste System - ANSWER-Read it!
Summary:
Country Focus: Chavez's Venezuala - ANSWER-Read the article:
Summary: Hugo Chavez took presidency of Venezuela a few years after being imprisoned. He announced
that he inherited the worst financial situation as the government regulated oil trade was tanking,
, Global Business Environment Test
Latest update 2024/2025
unemployment high, and a high national deficit. Chavez has made worse decisions since by controlling
and corrupting economic activity. Chavez was bailed out and reelected after oil prices surged with
economic growth. To date, the economy has tanked by a third and taxes are high along with inflation.
Country Focus: Corruption in Nigeria - ANSWER-Read it
Country Focus: Islamic Capitalism in Turkey - ANSWER-Read it!
Summary: Turkey is lobbying to become the first Islamic EU member. EU is worried that the western-
style business practices won't mix well with the Islamic faith. However, Islamic faith places strong
importance on entrepreneurship and equal opportunity. Some believe globalization is the driving force
behind this. The downfall is the low employment of women in the workforce.
Country Focus: Protesting Globalization in France - ANSWER-Read it
Critical Thinking and Discussion Questions - ANSWER-
Cross-Cultural Literacy - ANSWER-Understanding how the culture of a country affects the way business
is practiced.
Cultural Change - ANSWER-a. Culture is not constant; it evolves over time.
b. Japan is making a move to a more individualistic society.
c. India is projected to join the list of the top 5 consumer markets.
d. Urbanization and greater access to education increase economic progress which leads to better
financial freedom and thus, a reduction in dependency on one another.
e. As countries get richer there seems to be a shift from traditional to secular rational and from survival
to well-being values.
Culture - ANSWER-A system of values and norms that are shared among a group of people and that
when taken together constitute a design for living.
Culture and Competitive Advantage - ANSWER-
Culture And The Workplace - ANSWER-Management process and practices may need to vary according
to culturally determined work-related values.
Latest update 2024/2025
Are ethical systems dependent upon religion? - ANSWER-No (Ex. Confucianism)
Buddhism - ANSWER-- Founded in sixth century India by Siddhartha Gautama.
- He became the Buddha (Buddha = the awakened one)
- 350 million followers in central and southeast asia
-Doesn't support the caste system, but stresses the afterlife importance.
- Still not an entrepreneurial inspiring culture but more so than Hinduism.
Caste System - ANSWER-A system of social stratification in which social position is determined by the
family into which a person is born, and change in that position is usually not possible during and
individual's lifetime.
Chapter 1 - ANSWER-Globalization
Chapter 2 - ANSWER-National Differences in Political Economy
Chapter 4 - ANSWER-Differences in Culture
Civil Law - ANSWER-A system of law based on a very detailed set of written laws and codes. (Russia,
Romania)
Class Consciousness - ANSWER-A tendency for individuals to see themselves in terms of their class
backgrounds.
Class System - ANSWER-A system of social stratification in which social status is determined by the
family into which a person is born and by subsequent socioeconomic achievements; mobility between
classes is possible.
Clearly, Nigeria's corrupt government has been a major factor in the country's demise. In contrast, other
countries including Finland and Canada expressly prohibit corruption. In your opinion, would Nigeria be
better off following the example of countries like Finland and Canada? Why or why not? - ANSWER-Yes,
because corruption leads to lower foreign investment because there is no level playing field to calculate
a return on investment when so many variables are unpredictable. Controlling corruption would lead to
greater foreign investment and improve the economic standards of the Nigerian people.
Closing Case: Culture and Business in Saudi Arabia - ANSWER-Read it
,Global Business Environment Test
Latest update 2024/2025
Summary:
Closing Case: Legal Outsourcing - ANSWER-Read it
Collectivism - ANSWER-A political system that emphasizes collective goals as opposed to individual
goals.
Collectivism - ANSWER-Societies where people are born into collectives, such as extended families, and
everyone is supposed to look after the interests of his or her collectives.
Command Economy - ANSWER-: An economic system where the allocation of resources, including
determination of what goods and services should be produced, and in what quantity, is planned by the
government.
Common Law - ANSWER-A system of law based on tradition, precedent, and custom; when law courts
interpret common law, they do so with regard to these characteristics. (ex. U.S., India, Great Britain)
Communist Totalitarianism - ANSWER-A version of collectivism advocating that socialism can be
achieved only through a totalitarian dictatorship. (most widespread form, ex. Venezuela)
Communists - ANSWER-Those who believe socialism can be achieved only through revolution and
totalitarian dictatorship.
Confucian Dynamism (Long-term Orientation) - ANSWER-Theory that Confucian teachings affect
attitudes toward time, persistence, ordering by status, protection of face, respect for tradition, and
reciprocation of gifts and favors. The units of resources required to produce a good are assumed to
remain constant no matter where one is on a country's production possibility frontier.
Confucianism - ANSWER-Read all about it
Contract - ANSWER-A document that specifies the conditions under which an exchange is to occur and
details the rights and obligations of the parties involved.
Contract Law - ANSWER-The body of law that governs contract enforcement.
Copyrights - ANSWER-The exclusive legal rights of authors, composers, playwrights, artists, and
publishers to publish and disperse their work as they see fit.
Country Focus: Breaking India's Caste System - ANSWER-Read it!
Summary:
Country Focus: Chavez's Venezuala - ANSWER-Read the article:
Summary: Hugo Chavez took presidency of Venezuela a few years after being imprisoned. He announced
that he inherited the worst financial situation as the government regulated oil trade was tanking,
, Global Business Environment Test
Latest update 2024/2025
unemployment high, and a high national deficit. Chavez has made worse decisions since by controlling
and corrupting economic activity. Chavez was bailed out and reelected after oil prices surged with
economic growth. To date, the economy has tanked by a third and taxes are high along with inflation.
Country Focus: Corruption in Nigeria - ANSWER-Read it
Country Focus: Islamic Capitalism in Turkey - ANSWER-Read it!
Summary: Turkey is lobbying to become the first Islamic EU member. EU is worried that the western-
style business practices won't mix well with the Islamic faith. However, Islamic faith places strong
importance on entrepreneurship and equal opportunity. Some believe globalization is the driving force
behind this. The downfall is the low employment of women in the workforce.
Country Focus: Protesting Globalization in France - ANSWER-Read it
Critical Thinking and Discussion Questions - ANSWER-
Cross-Cultural Literacy - ANSWER-Understanding how the culture of a country affects the way business
is practiced.
Cultural Change - ANSWER-a. Culture is not constant; it evolves over time.
b. Japan is making a move to a more individualistic society.
c. India is projected to join the list of the top 5 consumer markets.
d. Urbanization and greater access to education increase economic progress which leads to better
financial freedom and thus, a reduction in dependency on one another.
e. As countries get richer there seems to be a shift from traditional to secular rational and from survival
to well-being values.
Culture - ANSWER-A system of values and norms that are shared among a group of people and that
when taken together constitute a design for living.
Culture and Competitive Advantage - ANSWER-
Culture And The Workplace - ANSWER-Management process and practices may need to vary according
to culturally determined work-related values.
