Although equality is not applied perfectly, in many other cultures, this competence is of secondary importance
Since our values may seem radical to foreigners it is of extreme importance that international businesses spend the resources to determine what foreign cultures they can ethically and effectively conduct business in
A sensitive awareness of the beliefs and practices of other peoples that differ from or conflict with one’s own.
The first step in developing tolerance toward other cultures is to understand their histories.
International Business Knowledge And Skills
The type of knowledge and skills required can include the ability to design effective promotional strategies abroad, manage an international sales force, manage risk in international financial markets, and communicate effectively across cultures.
GDP: the value of production that takes place within a nation’s borders, without regard to whether the production is done by domestic or foreign factors of production
Both a Ford and Toyota manufactured in the United States counts towards our GDP
A Ford produced in Mexico would not
Importance of Per Capita GNI 4-10 Low Income 755 or less (in 2000) Developing/Emerging Country High Income 9,266 or more Developed/Industrial Country Upper Middle Income 2,996-9,265 Developing/Emerging Country Middle Income 756-9,265 Developing/Emerging Country Lower Middle Income 756-2,995 Developing/Emerging Country World Bank Category Per Capita GNI ($) Common Name
Countries Classified by Economic System Figure 4.2 4-13