3rd partial

Question 1

Acquired norms based on values, attitudes and beliefs of a group of people

Answer 1

culture

Question 2

elements of culture which are basis of how IB make decisions

Answer 2

material
social institutions
religion and superstitions 
aesthetics
language

Question 3

established since childhood and hard to modify

Answer 3

cultural values

Question 4

how can cultural values can change?

Answer 4

due to choice
imposition (cultural imperialism)
contact with other cultures

Question 5

occurs when divergent cultures interact

• when company implements practices less effective than planned
• when employees have conflict due to foreign behaviors

Answer 5

cultural shock

Question 6

behavior practices that affect IB

Answer 6

1. language
2. social stratification
3. work motivation
4. communication context
5. time management
6. cultural dimensions

Question 7

affiliation to groups
- assigned group (by sex, family, age, nationality)

-acquired group (choosing to be a part of)

Answer 7

social stratification

Question 8

6 types of work motivation

Answer 8

materialism
success expectation and reward
performance and achievement
hierarchy of needs

Question 9

to obtain economic retribution

Answer 9

materialism

Question 10

to obtain a larger sentimental and material retribution

Answer 10

success expectation and reward

Question 11

to prove something

Answer 11

performance and achievement

Question 12

basic needs first and then the most sophisticated

Answer 12

hierarchy of needs

Question 13

maslow’s hierarchy of needs

Answer 13

physiological
safety
love / belonging
esteem
self-actualization

Question 14

depends on non verbal elements

Answer 14

high context

Question 15

explicit communication

Answer 15

low context

Question 16

type of time management

sequential work
time divided in small units
tangible

Answer 16

monochromic time

Question 17

type of time management

parallel work, different things happen at the same time
human transactions are more important than complying with time

Answer 17

polychromic time

Question 18

hofstede cultural dimensions

Answer 18

power distance
individualism
masculinity
uncertainty avoidance
long term orientation 
indulgence

Question 19

Alta distancia al poder
se obedece la autoridad sin cuestionar
los gerentes toman las decisiones autocráticas y paternalistas
los subordinados obedecen las órdenes sin replicar
existe un control riguroso de las operaciones
ética de trabajo es bastante débil
propia para países latinoamericanos y asiáticos (Malasia, Filipinas, México, Venezuela)

Baja distancia al poder
gente da mucha valor a la independencia
los gerentes consultan decisiones con los subordinados antes de tomarlas
existe una ética de trabajo fuerte
existe en países de América del Norte y muchos países europeos (EE.UU.,Canadá, Dinamarca, Gran Bretaña y Austria)

Answer 19

power distance

Question 20

The degree of interdependence a society maintains among its members

Individualism – Me and my family
Colectivism – The community

Answer 20

individualism

Question 21

se espera que las personas sean autosuficientes
se da mucha importancia a la iniciativa y logros individuales
se aprecia mucho la autonomía y la seguridad financiera individual
se alienta a la gente a tomar decisiones personales sin contar con el resto del grupo
se detectó principalmente en países industrializados

Answer 21

alto individualismo

Question 22

se da mucha importancia a las decisiones en grupo
nadie quiere ser en el centro de atención aún realizando bien su trabajo
el sentido de pertenecer es muy importante
la fuerza proviene del grupo
Países con esa característica: Ecuador, Guatemala, Paquistán e Indonesia

Answer 22

bajo individualismo

Question 23

society will be driven by competition, achievement and success, with success being defined by the winner

The fundamental issue here is what motivates people, wanting to be the best (Masculine) or liking what you do (Feminine).

Answer 23

masculinity

Question 24

dominant values in society are caring for others and quality of life.

Answer 24

feminine

Question 25

Alta inclinación a evitar incertidumbre se trata de atenuar el riesgo y de idear sistemas y métodos para afrontar ambigüedad las actividades organizacionales se formalizan existen muchas normas y reglas para asegurarse de que la gente sepa lo que debe hacer se observa alto grado de ansiedad y estrés entre las personas se nota la preocupación por seguridad las decisiones se toman en grupo se da en Grecia, Uruguay, Guatemala, Portugal, Japón y Corea Baja inclinación de evitar incertidumbre existe menor estructuración de las actividades se estimula gente a asumir riesgos las personas con menos estrés aceptan mejor la disidencia y desacuerdo se recurre mucho mas a su iniciativa personal se encontró en Singapur, Suecia, Gran Bretaña, EE.UU. Y Canadá

Answer 25

uncertainty avoidance extent of threat of unknown situations

Question 26

Alto Pragmatismo La sociedad comprende que mucho de lo que sucede no puede ser explicado. Culturas que se enfocan más en los detalles que en principios abstractos. ``` Bajo Pragmatismo (Idealismo) Culturas que se enfocan mas en establecer principios generales antes de intentar resolver pequeños asuntos. ```

Answer 26

long term orientation

Question 27

The extent to which people try to control their desires and impulses

Answer 27

Indulgence Vs. Restriction

Question 28

Money denominated in the currency of another nation or group of nations.

Answer 28

foreign exchange

Question 29

price of a currency *Number of units of one currency that buy one unit of another currency.

Answer 29

exchange rates

Question 30

systems of exchange rates

Answer 30

fixed floating

Question 31

based on government intervention

Answer 31

fixed FIXED (12.2%) Tied to a specific value

Question 32

based on supply and demand of currency (market forces)

Answer 32

floating ``` MANAGED FLOATING(45.7%) Rigid with a few changes based on market trends ``` FLOATING (42.1%) Based on supply and demand

Question 33

Forms of calculating exchange rates

Answer 33

direct indirect cross

Question 34

cost of one unit of foreign currency is given in units of local currency

Answer 34

direct

Question 35

cost of one unit of local currency is given in units of foreign currency

Answer 35

indirect

Question 36

to determine the value of an exchange rate between two currencies, you need a third common value

Answer 36

cross

Question 37

the price at which the dealer is willing to buy the foreign currency

Answer 37

bid (buy) rate

Question 38

the price at which the dealer is willing to sell the foreign currency

Answer 38

offer (sell) rate

Question 39

the difference between the bid and offer rates, the dealer's profit margin

Answer 39

spread

Question 40

company's decisions for market selection

Answer 40

1. where to locate sales, production and administration 2. what sequence of steps to follow to enter different countries 3. what portion of resources to assign to each country of operation

Question 41

2 steps to select

Answer 41

1. exploration | 2. detailed analysis

Question 42

examine most countries, eliminating countries until left with the most promising comparing info easily available

Answer 42

exploration

Question 43

complete detailed analysis involves visiting countries and on topics focused and aligned with company's objectives ($$$$)

Answer 43

detailed analysis

Question 44

Method to select the optimal country to export a product out of a list of possibilities. To measure the possibilities of success, it takes into account the factors

Answer 44

Wicklund method

Question 45

Select the most relevant variables to make the decision based on the research. (Select 8 variables)

Answer 45

step 1 decision variables

Question 46

Assign a “weight” to each variables, the weight indicated the relative importance to the decision. (May be a value, 0< weight <1, where 1 is the most important)

Answer 46

weight assignment 2

Question 47

Each country is assigned a numerical value in accordance to the performance researched. A rubric should be created for each type of variable. (Value 0< performance <10 where 10 is the best performance)

Answer 47

performance evaluation 3

Question 48

Multiply the weight of each variable times the performance value. Sum up the totals per country.

Answer 48

calculation 4

Question 49

The country with the highest global performance is chosen as the optimal market to export.

Answer 49

conclusion 5