Business Unit 2

• Culture

  the knowledge, experience, beliefs, values, attitudes, religion, symbols, and possessions acquired by a group of people who have lived in the same region or country for generations
• subculture

  when immigrants will bring parts of their culture when they move to a new country. This includes cultural mosaic (Canada) and cultural melting pot (United States) 
• Discrimination


  Canadian and American laws prohibit discrimination in the workplace as it relates to gender, race, sexual preference, disability, age, etc
• Cultural Norms


  Certain cultural norms that are part of the workplace in this country may be quite different elsewhere
• Meeting culture


  Depends on factors such as time perception, societal perception, non-verbal communication, and business etiquette
• Time Perception


  Polychronic (flexible) Monochronic (more strict)
• CSR (Corporate Social Responsibility)


  The duty of a company's management to work in the best interest of and advance society, as well as acting as good citizens through their policies
• NGOs (Non-Governmental Organizations)


  Non-profit organizations with a service and development focus that are composed mostly of volunteers, and are predominantly funded through charitable contributions
• Stakeholders


  Primary (directly affect the company and its profitability) Secondary (has impact but does not directly impact companies success)
• Sustainable development


  The ability to meet human consumption while maintaining the environment is a critical issue for businesses
• Corporate corruption


  Involvement in illegal activities, such as bribery and fraud, to further one's business interests
• Dumping


  When manufacturers export a product to another country at a price below the normal price
• Microcredit


  The granting of very small loans to spur entrepreneurship
• Business ethics


  A form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment
• Test of Disclosure


  When a company shares information that could influence the decisions of investors, stakeholders, or customers
• Ethical Imperialism


  A situation where a code of ethical behavior or attitude is imposed on another community or society
• Cultural Relativism


  Recognizes that cultural values, beliefs, and practices vary across different societies and should be understood within their specific cultural contexts
• Corporate Corruption


  False or misleading financial reporting, procurement fraud, embezzlement, bribery, and a range of other acts
• Dumping


  When a country or company exports a product at a price that is lower in the foreign importing market than the price in the exporter's domestic market
• Microcredit


  A method of lending very small sums to individuals to start or expand a small business
• 61% of the world's population has a social media account
• The world's richest 1% own 46% of the world's wealth
• 20% of the world's oil comes from the U.S
• 65% of the world's diamonds come from Africa
• 11% of the world's population is considered to live in "extreme poverty"
• 12% of the world's population lives within 50 km of a "conflict zone"
• 81% of Americans live in a urban area (city or town)
• 20% of the world's population lives in China
• 31% of the world is Christian
• 25% is the GDP of U.S in the world economy
• 10% of Americans have used "illegal" drugs (marijuana, etc.) in the past month
• 44% of American fly on a airplane per year
• 7% of the world has a university degree
• 62% of the adult population has an iphone
• 11% of the deaths in the world is caused by air pollution
• 30% of the world can speak English (either fluently or at least enough to get by)
• 20% of the world's freshwater is in Canada
• 10% of the world is left-handed
• Forms of CSR


  • Environmental responsibility
  • Ethical responsibility
  • Philanthropic responsibility
  • Economic responsibility
• Benefits of CSR


  Better brand recognition, positive business reputation, increased sales and customer loyalty, operational costs savings