MIDTERMS

• Global Culture


  A set of shared experiences, norms, symbols and ideas that unite people at the global level
• Business


  • Shared business habits, conventions, symbols and expectations. This includes foundational concepts such as company, team, meeting and innovation.
• Sport


  • Sports such as soccer, running and swimming that are enjoyed on an international basis, nations might have different traditions but enjoy a shared experience nonetheless.
• Holiday and Pastimes


  • Holidays and pastimes that are celebrated in different ways in different areas with some degree of commonality at the global level such as New Years.
• Fashion


  • Fashion such as trendy style, material or design that spreads on a global design.
• Diplomacy


  • The conventions and norms of international diplomacy.
• Professions


  • Professional culture such as a software developer who share norms, ideas and symbols.
• Language


  • Efforts to adopt a common international language, currently English, to communicate across borders.
• Travel


  • Travel norms and conventions for tourists.
• Belief


  • Religions and philosophies typically transcend national borders.
• Art & Music


  • Styles and genres of art and music such as jazz, hiphop.
• Food


  • Food items that are well known in most countries such as pizza, sushi or the hamburger.
• Education


  • Educational norms and philosophies. For example, the idea that students debate topics to develop their capacity for analysis, communication and critical thought.
• Consumer Culture


  • Consumer culture such as brand that gets respect from snow border in multiple countries.
• Subcultures


  • Subcultures such as street fashion enthusiast in Tokyo and New York who influence each other.
• Fandom


  • Fans of popular culture o hobbies that share a camaraderie that spans the regions. For example, cosplayers who share many of the same inspirations, vocabulary and norms in different countries.
• Gamers


  • Videogame enthusiasts represent a major super culture that has a global reach.
• Cosmopolitanism


  • The idea that community exists at the global level. This is associated with learning languages, travel, working abroad, international business and development of cultural knowledge so as to respect the local culture where you travel.
• Agents of Globalization


  • Trade
  • Migration
  • Mass culture
  • Communication
• The agents of globalization today are essentially the same as agents of globalization in past centuries. The only differences are differences of speed and scale.
• Global workforce


  The type that is base in different countries, in different time zones, with different cultural sensibilities, with different legislation and regulatory impositions all striving towards a common goal the business despite these obstacles.
• Technology and Communication


  • Advances in technology, particularly in communication and transportation, have greatly facilitated globalization. The internet, smartphones, social media, and efficient transportation systems enable the rapid exchange of information, ideas, and goods across borders.
• Multinational Corporations (MNCs)


  • Large corporations with operations in multiple countries play a significant role in globalization. They establish supply chains, invest in foreign markets, and distribute products globally, contributing to economic integration.
• International Trade


  • Trade agreements, reduced trade barriers, and the growth of global supply chains have expanded international trade. Organizations like the World Trade Organization (WTO) help regulate and promote trade on a global scale.
• Global Financial Institutions


  • Entities like the International Monetary Fund (IMF) and the World Bank influence global economic policies, provide financial assistance, and promote economic stability and development in different countries.
• Cultural Exchanges


  • Cultural agents like media, entertainment, and the arts contribute to the spread of ideas, values, and cultural practices across borders. Films, music, literature, and art are mediums through which cultures interact and influence one another.
• Migration and Mobility


  • People moving across borders for work, education, or other reasons contribute to cultural and demographic diversity, leading to the blending and sharing of cultures.
• Non-Governmental Organizations (NGOs)


  • NGOs address global issues such as human rights, environmental conservation, and public health. They often work across borders to provide assistance and advocate for change.
• Tourism


  • The tourism industry fosters cross-cultural interactions, exposes people to new cultures, and generates economic benefits for host countries.
• Education and Research


  • Global academic and research collaborations lead to the exchange of knowledge, expertise, and ideas. International universities and research institutions contribute to a global pool of intellectual resources.
• Political Agreements and Alliances


  • International organizations like the United Nations (UN), regional agreements like the European Union (EU), and geopolitical alliances impact diplomacy, trade, security, and policy coordination on a global scale.
• Global Health Initiatives


  • Organizations like the World Health Organization (WHO) address global health challenges, coordinate responses to pandemics, and promote healthcare equity.
• Social Media and Online Communities

  • Digital platforms enable people from different parts of the world to connect, share experiences, and engage in discussions, fostering a sense of global community.
• Three most important aspects of cultural practices

  • Communication
  • Attitude
  • Etiquette
• Communication


  Communication plays an important role in international business, and sometimes effective communication can be the difference between succeeding or falling in a new market.
• Attitude


  Experts believe that different cultures have different attitudes towards business. Sweden, social equality is given more importance that is why they have a relatively flat organizational hierarchy. In Japan, their traditional values of relative status and respect for seniority are very much manifested on how they run their organizations.
• Etiquette


  Effective communication is particularly important for international business as there is a risk of your messages getting "lost in translation".
• Advantages of globalization for businesses

  • Ability to tap into a wider talent pool
  • New ideas due to cultural diversity
  • Earnings changes
  • Larger Markets
• Economic Integration


  Sometimes referred to as regional integration as it often occurs among neighboring nations. When regional economies agree on integration, trade barriers fall and economic and political coordination increases.
• Stages of Economic Integration

  • Preferential trading area
  • Common market
  • Economic union
  • Economic Union and Monetary union
  • Complete economic integration