Cultural Differences in International Business If you have traveled a lot before‚ you know that there are huge differences in communication between people from one country to another. In some cultures‚ people are loud‚ direct or even blunt and tend to interrupt others during a conversation. In others‚ people are typically soft-spoken‚ use flowery or indirect language and wait patiently for others to finish their sentence. During a business meeting‚ these differences are likely to come to the
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FINS3616 International Business Finance - Week 4 A. Conceptual questions 1. What is a forward exchange rate? 2. If the yen is selling at a premium relative to the euro in the forward market‚ is the forward price of EUR per JPY larger or smaller than the spot price of EUR per JPY? 3. If you are a U.S. firm and owe someone ¥10‚000‚000 in 180 days‚ what is your transaction exchange risk? 4. If the spot exchange rate of the yen relative to the dollar is ¥105.75‚ and the
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International Business Law Chapter 4 Study Guide (Group 8) Under frustration of purpose clause‚ a contract may be excused if the reason for entering the contract has been changed or has been invaluable. If the valuable part of the contract‚ for example a well known concert singer‚ has become ill‚ the contract may be excused due to the illness of the valuable part‚ the singer‚ of completing the contract. Valid Contract: an agreement that contains all of the essential elements and meets all
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Velasquez 5.1 and 5.5 All of your responses should be written in complete sentences. 1. Define Rationalism The view that knowledge of the world can be obtained by relying on reason without the aid of the senses. 2. Define Empiricism Knowledge about the world can be attained only through sense experience. 3. What is Induction and how does it work? How does it make use of both empiricism and rationalism? It is defined as the reliance of observations‚ generalizations and repeated confirmation.
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An international entry mode is an institutional agreement necessary for the entry of a company’s products‚ technology and human capital into a foreign country or market. The reluctance of firms to change entry modes once they are in place‚ and the difficulty involved in doing so‚ make the mode of entry decision a key strategic issue for firms operating in today’s rapidly internationalizing market place. The choice of mode will depend on internal characteristics (eg firm size‚ international experience)
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International business China and India Population: Chinas population is 1.351 billion‚ china’s GDP 8.227 trillion USD. However Indians population is about 1.237 billion‚ Indian GDP $1.85 Trillion Economic growth: Gross domestic product (GDP) grew at an annual rate of 7.7% in the October-to-December period‚ down from 7.8% in the previous quarter. But it was still higher than the government’s target rate of 7.5%. China is trying to maintain strong growth while rebalancing its economy. China has
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Case Discussion Questions 1. A green field development can be a best way to reduce labor costs. Intel could employ well- educated‚ reliable workers inexpensively in Costa Rica through the development of green field. 2. The international site selection team is important for Intel because they should identify and collect the technical‚ economic‚ and environmental protection criteria‚ develop an evaluation plan‚ evaluate proposed sites‚ identify alternatives that meet the purpose and need for
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Case Study 1: Answer 1: In the early 1980s‚ as Fuji launched an aggressive export drive‚ Kodak was attacked in the North American & European markets. Fuji was taking over the markets & made Kodak realize that it was time to be alert & more aggressive. This led to the decision of being more defensive & thus Kodak started considering Japanese market more seriously. Answer 2: I strongly believe that the charges were valid. By systematically denying Kodak’s access to Japanese distribution
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People around the globe are more connected to each other than ever before. Information and money too flow more quickly than ever before. Goods and services produced in one part of the world are increasingly available in all parts of the world. International communication is commonplace. This phenomenon has been titled “globalization.” The era of globalization is fast becoming the preferred term for describing the current times. Because we are thoughtful people concerned about world affairs‚ our job
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1. Define production. What are the factors of production? Define production: Production means the creation of Utility. Through production inputs are converted into output which can satisfy or meet wants or demands. So production is a process of transforming inputs into useable outputs. Utilities are created in three forms such as (i) Changing the form (ii) changing time and (iii) changing place. Example: Wood in a forest generally has no utility to a consumer but cutting the wood‚ changing
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