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WGU D270 Business Chapter 1-3 Mid Term Study Guide Western Governors University
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WGU D270 Business Chapter 1-3 Mid Term Study Guide Western Governors University
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WGU D270 Business Chapter 1-3 MidTerm Study Guide Western Governors
University.
Democracy
✔✔is a government "of the people, by the people, for the people."
Citizens are politically and legally equal, entitled to freedom of thought,
opinion, belief, speech, and association
Polycentrism
✔✔the belief that people should act like local companies when
conducting business abroad
Ethnocentrism
✔✔the belief that one's own culture is superior to that of other countries,
so people should not act like local companies when conducting business
abroad
Maslow's Hierarchy
✔✔...
Theocratic
✔✔...
Geocentrism
✔✔the belief that integrates the culture of ones home country and the
culture of the host-country when conducting business abroad (a hybrid
between poly centrism and ethnocentrism)
, Future Orientation
✔✔...
Intellectual Property
✔✔the creative ideas, or intangible insights that create a competitive
advantage for an individual, company, or country. Ex: patents,
trademarks, copyrights. No international laws.
Totalitariianism
✔✔total government control over the market, media, etc.
High/Low Context Relationship
✔✔High- want to build relationships before starting work/business
Low- want to get right to work before trusting others
Off-Shoring
✔✔Moving a business process (like manufacturing) to somewhere else
Laissez-Faire
✔✔"leave it alone" free market, no government control
Foreign Direct Investment (FDI)
✔✔an investment for control over strategic decisions, but not necessarily
over 50%
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