ADM 3318 Lecture Notes - Lecture 4: International Business, Paris Convention For The Protection Of Industrial Property, Legal Risk
9 Apr 2018
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Document Summary
International business is much more complicated than domestic business because countries differ in many ways. Countries have different: political (government styles), economic, and legal systems. Cultural practices can vary dramatically from country to country, as can the education and skill level of the population. Political systems: collectivism: political system that stresses the primacy of collective goals over individuals" goals. This concept was introduced in plato (427-347 bc) - individual rights should be sacrificed for the good of society. Socialism: communism revolution and totalitarian dictatorships, social democrats socialism by democratic means, individualism: political system that focuses on the interests of the individual over the interests of the state. Aristotle (384 322 bc) private property is more highly productive than communal property and will thus stimulate progress. Individualism has two central tenets: individual freedom and self-expression john stuart mill, let people pursue their own economic self-interest adam smith (father of the modern economic)
