Group 7_ Review Chapter 2-5 by Châu Nguyễn Ngọc Minh https://padlet.com/chaunnm0560/x70w4fx90gg87ha3 Made with a wish on a star en-us 2021-10-14 01:33:29 UTC 2021-10-14 02:31:11 UTC hello@padlet.com Chapter 2: The global economic environment chaunnm0560 https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815617084 -The overview about the economic changing around the world.  Totally, the world see the four realities: 
1.Capital movements rather than trade have become the driving force of the global economy: Example: The London Eurodollar market is worth about US$75 trillion per annum and foreign exchange transactions are US$35 trillion per annum 
2. Production has become "uncoupled" from employment: Example: Some agriculture sectors are achieving higher productivity through mechanisation but this is the main reason make employees lose their job 
3. The word economy, not individual countries, is domanting factors: Example: The large world economic share of the USA and Japan 




]]> 2021-10-14 01:41:08 UTC https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815617084 Chap 5: Global Marketing vylp2932 https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815620784 Politicial, Legal and Regulatory Environment
1. Sovereignty
- As against marketing, which simply believes in making goods and services available to whoever has money to pay for them, sovereign or Sovereign marketing thinks of the people in general and their welfare and their return of money invested in their goods and services
- It intends to make the people, who are sovereign supreme in the market place, but, satisfied, which is the result of high competition and the result of new economy and business, which calls for new marketing
2. Political risk
- Political risk is the potential for financial, market, or personnel losses that occur due to political decisions or disruptions. Political risk is also known as "geopolitical risk.
Besides market-based causes, businesses can be affected by a plethora of political decisions or changes that can affect conditions and profitability.
Examples of political risk actions: decisions made by governmental leaders regarding taxes, currency valuation, trade tariffs/barriers, investment, wage levels, labor laws, environmental regulations, and development priorities.
3.Taxes
- Goverment taxation policies: government tax rates for businesses
Example: When a business imports into a country, the tax rate imposed by the government of the importing country will be applied
- Corporate taxation: The tax rate is based on the income of businesses after deducting fees
4. Seizure of Assets
- Expropriation: government action against FDI
- Confiscation: happens when no compensation is occurs
- Nationalization
- Creeping expropriation
5. International Law: Case of International Court of Justice
The rules that nation consider binding among them selves to protect property,...
International law is a system of treaties and agreements between nations that governs how nations interact with other nations, citizens of other nations, and businesses of other nations. International law typically falls into two different categories. "Private international law" deals with controversies between private entities, such as people or corporations, which have a significant relationship to more than one nation. 
For example, lawsuits arising from the toxic gas leak in Bhopal, India from industrial plants owned by Union Carbide, a U.S. corporation would be considered a matter of private international law.
6. Common Law vs Civil Law
7. Islamic Law
8. Sidestepping Legal Issues
9. Jurisdiction
10. Intellectual Property: Case Budweisers
11. Antitrust
- The market has only 1 seller and producer of the product, there are no substitutes, there is only one firm that supplies all of the market's output.
Example: Microsoft has a worldwide monopoly on the Windows operating system.
12. Licensing and Trade Secrets
13. Bribery and Corruption
14. Conflict Resolution
- Conflict between two countries has many different causes.
The resolution of the conflict shall be based on national negotiation or arbitration
15. The Regulatory Environemt

]]> 2021-10-14 01:42:37 UTC https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815620784 Chapter 4: Social and Cultural Environments https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815636916 1. Culture
- Conscious and Unconscious values
- Material and Nonmaterial Culture
- Attitudes, Beliefs, and Values
  Example:
Smaller groups of people with their
own shared attitudes, beliefs, & values (ex.Vegetarians).

- Religion
  Example:
The world’s major religions include Buddhism, Christianity, Hinduism, Islam, and Judaism and are an important source of beliefs, attitudes, and values.

- Aesthetics and Color
Example:
   • Red: associated with blood, wine-making, activity, heat, and vibrancy in many countries but is poorly received in some African countries.
   • Blue: since the pigment was rare, ancient Egyptians, Chinese, Mayans associated it with royalty and divinity. Half of
interviewees state blue is the favorite color.
   • White: identified with purity and cleanliness in the West, with death in parts of Asia.
    • Gray: means inexpensive in Japan and China, but high quality and expensive in the U.S.

-Music
 Example:
+ Styles are associated with countries or regions:
   • Nossa nova & Argentina,
   • Salsa & Cuba,
   • Reggae & Jamaica,
   • Blues, rap, rock, country & U.S.

- Dietary Preferences

- Language and Communication
   Example:
+ English Around the Globe
   • More people speak English as a 2nd language than there are native speakers
   • 85% of EU teens study English
+ Nonverbal Communication
   • In the Middle East, Westerners should not show the soles of shoes or pass documents with the left hand
   • In Japan, bowing has many nuances
   • Asians place greater value on nonverbal communication than Westerners

2.  High- and Low-Context Cultures
     Example:
+ High Context: Saudi Arabia, Japan
   •  Information resides in context
   • Emphasis on background, basic values, societal status
   •  Less emphasis on legal paperwork
   •  Focus on personal reputation
+ Low Context: Switzerland, U.S., Germany
   •  Messages are explicit and specific
   •  Words carry all information
   •  Reliance on legal paperwork
   •  Focus on non-personal documentation of credibility

3.  Hofstede’s Five Dimensions of National Culture
3.1.  Individualism-collectivistic
3.2. High power distance - Low power distance 
3.3.  High uncertainty avoidance - Low uncertainty avoidance
3.4.  Achievement - Nurturing 
3.5.  Long term orientation - Short term orientation
4. Self-Reference Criterion and Perception 
4.1. Define the problem or goal in terms of home country cultural traits 
4.2. Define the problem in terms of host-country cultural traits; make no value judgments 
4.3. Isolate the SRC influence and examine it 
4.4. Redefine the problem without the SRC influence and solve for the host country situation 
5.  Diffusion Theory 
-  The Adoption Process 
-  Characteristics of Innovations 
6.  Marketing Implications of Social and Cultural Environments 

 

]]> 2021-10-14 01:49:07 UTC https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815636916 The Global Trade EnvironmentChapter 3 https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815690541 1. Explain the role of the WTO in facilitating global trade relations
among nations.
2. Compare and contrast the four main categories of preferential trade
agreements.
3. Explain the trade relationship dynamics among signatories of
NAFTA.
4. Identify the four main preferential trade agreements in Latin
American and the key members of each.
5. Identify the main preferential trade agreements Asia-Pacific region.
6. Describe the various forms of economic integration in Europe.
7. Describe the activities of the regional organizations in the Middle
East.
8. Identify the issues for global marketers wishing to expand in Africa

Preferential Trade Agreements
Free Trade Area
North America—NAFTA
Customs Union
• Evolution of Free Trade Area
• Includes the elimination of internal barriers to
trade (as in FTA)
• AND establishes common external barriers
(CETs) to trade
• Examples: The EU and Turkey, the Andean
Community, Mercosur, CARICOM, Central
American Integration System (SICA)
Common Market
Economic Union
Central American Integration System (SICA)
DR-CAFTA
• SICA members El Salvador, Honduras,
Guatemala, Nicaragua, Costa Rica joined the
Dominican Republic and the United States in a
FTA
• 80% of US goods and 50% + of agricultural
goods are duty free
• Paperwork is reduced
• Reduced risks mean more direct foreign
investment
Andean Community
Common Market of the South (MERCOSUR)
CARICOM
ASEAN
European Union
The Middle East
Africa]]> 2021-10-14 02:11:08 UTC https://padlet.com/chaunnm0560/x70w4fx90gg87ha3/wish/1815690541