BUSI 2701 Lecture Notes - Lecture 2: Totalitarianism, Collectivism
Document Summary
Int"l business is more complicated than domestic business because countries differ in a various amount of ways. Cultural practices can vary from country to country. Education and skill level of a country"s population can vary also. Countries are at different stages of economic development. We refer to these systems as constituting the political economy of a country. The political, economic, and legal systems of a country are not independent of each other. They are dependent, they interact and can influence each other, and affect the economic well-being of a country. A political system refers to the system of the gov"t in the nation. The degree to which the country emphasizes collectivism over individualism. The degree to which the country is democratic or totalitarian. Collectivism: political system that emphasizes the collective goals over individual goals of a country.
