Question

Define These Terms in Two Short Paragraph each. One Short Paragraph defining the term, and one short paragraph using it in an example. The terms have to relate to international business.

1-Patriotism-

2-Colonialism-

3-Ethnocentric-

4-Acculturation-

5-Developed World-

6-Social Cohesion-

7-Microcredit Banking-

8-Protectionism-

9-Culture-

10-Globalization-

Answer 1

1. Patriotism: As we know the word meaning of patriotism is loyality of a person or loyality of an organization to their own nation. in other words we can say patriotism is loyality to the country.

if we are talking about patriotism in international business that means how can we show patriotism in international business or how can we show loyality to our nation in internatinal business.

for example an international business can show their loyality to their nation in different ways :

1. To sell their goods or services into their own country in genuine price.

2. To distribute their goods or service in own country in proper manner.

2. Colonialism : Colonialism we can say it is kind of a practice of dominaiton also in colonialism involves subjugation of one person to another person or we can say one people to another people.

There are two main examples of colonialism;

Setteler colonialism which is involves imigration at large scale.

second is Exploation colonialism in this we can see trade like export of goods.

Ethnocentric : In international business ethnocentric is a method for recruitement to get a perfect person for the perfect job for international business and it can be on the basis of skill required and willingness of the candidate and international business.

For example if one American company is doing international business in different countries and wants to hire some new candidate for their organization in this case that organization can use this method for hiring process.

Acculturation: Acculturation word defines its own meaning, we can say it is a process of exchanging cultures traits between of the two different countries or two different cultures, it can impact on consumer behaviour.

Acculturation is already related to internatina business for example in India their is a clothes with the name of CHANIYA CHOLI which is famous in other countries as well so we can say it is acculturation because many of the countries are exchanging their cultres with India, they are accepting and providing and with out internation business it can not be possible.

Developed World : Developed world is simply that situation where countries can be advance in every field in other words developed world is where countries are matures and sophisticated economy.

International business can play important role to create a developed world, as we know internatiol business can create a good GDP for any country and automaticly if GDP will grow world will grow.

Social Cohesion : Social cohension conduts two words it self one is social and second is cohension it refers to social togetherness in different cultrues, different coutries we can say.

In international business social cohension is the most imporant factor, without togetherness, with out unity no body can do business at international levels, bond is very high needed thing in international business.

Microcredit Banking : Micro credit banking defines small loans to individuals, it is also part of larger microfinance industry, and micro credit banking having their own benifits it is providing not only credit also insurance, savings and many other basic financial services.

Microcredit banking is an important facotor in internatinal business, as every business needs finance, insurance and other basic services to grow their business.

Protectionism : Protectionism is a policy that can protect domestic industries agains foreign comptetion like tarrifs, subsidies, import quotas or other restrictions.

Protectionism in international trade is directly related it can be a relief for foreign organizations, it can protect with different foreign comptetions.

Culture : Culture is a behavior of a particular person or we can say behavior of a country, it can be their communication, attitude, etiquette, religion, habbits and much more things which can different from one country to other

Culture can direcly affect to any internatinal business as we see it can be their communication if one business is not able to communicate properly in anothe country, if their habbits are not matching, or there is different in their attitude, in these case internation business is not posible.

Globalization : Globalization is the most important word in global market as we know globalization means speedup of business to all over the world it can be exchanging goods, services, capital, technology.

And if we talk about the raltion of globalizaiton in international trade so their is one thing with out globalization we can not imagine internatinal business as with out globzlation. Globalization can help to do international trade in easy manners, it can be social globaliztion, economic globalization, political globlization.