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Lecture 2

BUSI 2701 Lecture Notes - Lecture 2: Totalitarianism, CollectivismPremium

1 pages55 viewsSpring 2018

Course Code
BUSI 2701
Gilles Le Vasseur

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Country Differences
Int’l business is more complicated than domestic business because countries differ in a
various amount of ways.
Countries have different
Political systems
Economical systems
Legal systems
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
They are dependent, they interact and can influence each other, and affect the economic
well-being of a country
Political Systems
A political system refers to the system of the gov’t in the nation
Accessed according to two dimensions
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.
Individualism: political system that emphasizes the individual goals over
the collective goals
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