Key Terms with Definitions:
1. Globalization - this is a practice of exporting goods done by various countries all over the
world, wherein their main goal is to increase both global profits.
2. Global Strategy - rather than perceiving a country on its own, global strategy includes
deliberately includes procedures to ensure global needs.
3. Multinational Corporations - these are legal organizations based in a local country that
perform business pursuits.
4. Foreign Operations - this operation can expand any global business by possibly
introducing it to a wider market but still has its risks.
5. Joint Ventures - this term is considered a big help for global businesses that can help
them have a wider knowledge regarding basic pieces of information about their target
market.
6. The Global Challenge - such markets are still continuously growing, it resonates why the
large economies are not becoming less themselves.
7. American Versus Foreign Business Culture - managers attaining basic cultural
knowledge is what’s important in order to attract people in other countries.
8. Punctuality - this habit is rather infamous rather than being considered by many business
groups.
9. Waving - this action is considered a personal insult when the hands are too closed to an
individual’s face, particularly in Greece and Nigeria.
10. Smiling - this communication form does work worldwide.
11. Personally Touching and Distance norms - this concept is different in any part of the
world, considering that we are all introduced to distinctive ethics.
12. Mexico’s Business Culture - seeking for employers are rather based on the person’s
attitude; if he’s respectful, obedient, etc. They are also overprotective.
13. Japan’s Business Culture - their culture is based on how an individual engaged with their
colleagues.
14. China’s Business Culture - China’s culture about business depends on what position a
person possesses in their business.
15. India’s Business Culture - people in this country do not like responding “no’, rather than
correcting employees, they will just vaguely say something that you would want to hear.
16. Africa’s Business Climate - this country is being helped by many countries to be able to
stabilize itself to the modern world.
17. China’s Business Climate - this country is the most populated worldwide, hence, making
them number one on being influential.
18. Indonesia’s Business Climate - this country is known for its fast-growing economy in
Asia, except our country and China.
19. India’s Business Climate - this country is the world’s large economy.
20. Japan’s Business Climate - In 2019, this country’s economic growth decreased to a halt,
dropped flat in 2020, and then regained in 2021.