Mistaken Beliefs That Everyone Has the Same Experiences and Values

question 74

Multiple Choice

Mistaken beliefs that everyone has the same experiences and values as oneself and therefore should think the same way one does are called:​

• A) ethnocentric fallacies.​
• B) ​egocentric fallacies.
• C) ​egotistical fallacies.
• D) ​ethnologic fallacies.

Describe the significance of cultural orientation in international business, such as power distance, masculinity vs. femininity, and uncertainty avoidance.

Explain the advantages and challenges of employing host-country nationals versus expatriates in foreign operations.

Understand the role of HR practices and labor force attributes in the international expansion of businesses.

Recognize the importance of cultural compatibility and flexibility for expatriates’ success in foreign assignments.

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Definitions:

Venture Capital

Financing provided by investors to startup companies and small businesses with perceived long-term growth potential.

Retained Earnings

The portion of a company's profits not paid out as dividends, but reinvested in the business.

Total Utility

The complete satisfaction or fulfillment a person derives from consuming a certain quantity of goods or services.

Successful New Products

Innovations that achieve significant customer acceptance and financial viability within a market.