Hw Answers Ch 1 2 5n5e5p

IDEAL ANSWERS FOR HOMEWORK-CHAPTERS 1 & 2 Quick Study 2 (p. 8) 2. Q: List each benefit a company might obtain from the globalization of markets. A: Globalization of markets refers to convergence in buyer preferences in markets around the world. Potential benefits for companies include: (1) reduced costs by standardizing marketing activities, (2) market opportunities abroad if home market is small or saturated, and (3) levels an income stream by letting international sales offset domestic sales for a company selling a global seasonal product. 3.

Q: How might a company benefit from the globalization of production? A: Globalization of production refers to the dispersal of production activities to locations that help a company minimize costs or maximize quality of a good or service. Potential benefits for companies include: (1) access lowercost labor to cut production costs, (2) access technical know-how, and (3) access resources unavailable or costly at home.

Quick Study 6 (p. 23) 3. Q: Summarize the claims of each side in the debate over globalization’s influence on cultures. A: (1) Globalization critics fear it is homogenizing the world and destroying its rich diversity of cultures. In some drab, new world we all will wear the same clothes bought at the same brand-name shops, eat the same foods at the same brand-name restaurants, and watch the same movies made by the same production companies. (2) It is also feared that cultural diversity will be reduced through universal products, as local businesses cannot compete with large MNCs. (1) Globalization ers counter that it allows each nation to profit from differing circumstances and skills. Trade allows a country to specialize in producing those goods and services in which it is most efficient. It can then trade those products to other nations in exchange for goods and services it desires but does not produce. (2) Focusing only on consumer goods examines only the most superficial aspects of culture. (3) Throughout the past century, the music, art, and literature of developing countries has thrived and gained international attention through globalization. 300 words

Quick Study 2 (p. 54) 3. Q: Compare and contrast values and attitudes. How do cultures differ in their attitudes toward time, work, and cultural change? A: Values are ideas, beliefs, and customs to which people are emotionally attached whereas Attitudes are positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts. People hold as values only those ideas, beliefs, and customs extremely important to them. Conversely, people harbor attitudes toward things that are important and unimportant to them. Attitudes toward time in certain cultures are more relaxed while attitudes toward time in others are more rigid. For example, Latin American and Mediterranean cultures tend to be relaxed toward the use of time whereas Northern Europe and the United States tend to keep far tighter schedules. Attitudes toward work also vary across cultures. Some cultures see work strictly as a means to an end whereas others see work as an end in itself. Attitudes toward work influence people’s attitudes toward time. For example, in where people tend to take a relaxed attitude toward work, attitudes toward time are quite flexible. The opposite is true in Japan. Attitudes toward cultural change also vary from one culture to another. Some cultures readily accept the cultural traits of other nations, whereas others are far more wary. However, globalization and technological advancements are increasing the pace of cultural change for many cultures around the world.

Quick Study 3 (p. 57) 1.

Q: How do manners and customs differ? Give examples of each. A: Manners are appropriate ways of behaving, speaking, and dressing in a culture. Customs are habits or ways of behaving in specific circumstances that are ed down through generations in a culture. The two differ from each other in that manners apply generally in a culture whereas customs apply to specific situations. An example of good manners is behaving in a modest manner and dressing conservatively in Japan. An example of a custom is the practice of arranging marriages on the behalf of children in India—just as it was a widespread custom across Europe several or more generations ago. Another custom is the playing of cricket in Britain and its former colonies including India and Australia.

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Q: List several manners that managers should keep in mind when doing business abroad. A: Several tips include (See Global Manager’s Briefcase box): don’t rush familiarity, adapt to personal space, respect religious values, give and receive business cards respectfully, use comedy sparingly, and maintain good posture.

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