affirmative action
the effort made by an employer to increase employment opportunities for people who belong to a visible minority who are not adequately represented in the firm's labour force. In the U.S., legislation has mandated that certain groups, such as Afro-Americans, will receive this protection in the workplace.

aqueduct
a channel constructed to carry water by gravity from one place to another.

authority
in the cultural context, this term refers to shared beliefs about the power or influence of an organization or an individual representing an organization.

body language
conscious or unconscious movements and gestures that communicate to others a person’s attitudes and feelings. This may also include dress, facial features, skin colour or other personal means of communication without words.

company resources
refers to the money (capital), people (personnel) and equipment and materials that a company needs in order to operate.

conquistadors
typically Spanish and Portuguese invaders of Central and South America.

consulate
a government office in a foreign country or region which is mandated to oversee the commercial interests of the home country. These interests depend on location and alternative access to an embassy, but may include many of the same commercial and diplomatic matters handled by an embassy.

commodity
any goods that have value that are exchanged through trade. The term is often used to refer to raw materials and agricultural goods such as iron ore, tin, wheat, coffee, cotton, etc.

consumer base
the number of people who may purchase a company’s product or service.

copyright
an exclusive right which is granted by law for a certain period for the production and distribution of intellectual property; such property includes literary, artistic or musical property and computer software.

culture
the learned attitudes, beliefs or values that are shared by individuals within a social group.

culture shock
the anxiety people experience as they encounter and try to adapt to the customs and expectations of another culture.

devaluation
the reduction by a government of the official value of its currency in relation to the value of the currency of other nations

developing countries
countries in which the average annual income is low, most of the population is engaged in agriculture and the majority live near the subsistence level. In general, developing countries are not highly industrialized and are dependent on foreign capital and development aid. Many of the states in the Americas are considered developing countries.

divination
the art or practice that seeks to foresee or foretell future events.

embassy
a government office located in a major city of a foreign country which is responsible for the commercial and trade interests of the home country. The embassy may also be the official residence of the ambassador of the home country. Embassies provide services related to trade and investment information, immigration processing, emergencies, travel advisories, health and other assistance to home country citizens travelling abroad.

entrepreneurship
refers to the set of skills a person needs in order to successfully start and run a small business. These skills include the ability to identify a need in the marketplace and to take risks.

etiquette
the rules or accepted requirements of social behaviour; good manners.

exchange rate
the price of a national currency in terms of the currency of another nation. The exchange rate is a way of stating how many units of currency (dollars, for example) it would take to buy a unit of a foreign currency. Changes in the exchange rate of a country’s currency can make a difference in the price of its imports and exports.

exchange restrictions
any of a variety of financial and administrative measures imposed by a government to restrict the outflow of convertible currencies from a country.

Five Tribes
a group of Indian tribes that included the Cherokee, Chickasaw, Choctaw, Seminole and Creek which formed their own government. These groups were often referred to as the Five Civilized Tribes by non-Native people because of their government and education programs.

Generalized System of Preferences
an agreement developed by UNCTAD in 1968 whereby 27 of the world’s richer nations agreed to reduce their import duties on goods imported from developing countries. The GSP is important to developing countries because its programs outline trade concessions that help to equalize the terms of international trade.

Group of Seven
Often shortened to the G-7, this term refers to seven major world powers that have met at formal economic summits since 1975 to discuss economic decisions of importance to the global community. The group includes Canada, the United States, the United Kingdom, Germany, Japan, France and Italy. Canada did not attend the initial summit, but has participated since 1976. The 1997 summit was called the "Summit of the Eight" because Russia participated in most of the sessions. Not until the 1998 summit held in Birmingham, England, did the group officially become the G-8. The extent of Russia's involvement will be determined over time.

Industrial Revolution
a period of industrial and social change that began in Europe in the late 18th and early 19th centuries and later spread to other regions of the world. The revolution was accelerated in the U.S. where it took hold in the 1870s. Many new cities were founded and the building of factories for turning raw materials into manufactured goods gave these centres an industrial focus. Between 1870 and 1914, the U.S. experienced unprecedented immigration from Europe, providing new labour for the factories. Cities were linked by a new network of railways. This period lay the foundation for urbanization, a trend that continues in the U.S. today.

internal colonization
the strategy or practice of placing loyal groups in territories that are difficult to govern.

joint venture
when two or more companies share ownership of a business, this arrangement is known at a joint venture.

junta
a Spanish word referring to the governing group or committee running a country following a military or rebel coup.

LAC
an acronym often used to refer to the region of Latin America and the Caribbean.

Latin America
the term often used to refer to all countries south of the United States. This term refers most specifically to those people of Latin European heritage, predominantly those descended from the Spanish or Portuguese. There are many people in this geographic area who have no "Latin" blood, including many indigenous people and others whose ancestry is tied to such places as the United Kingdom, Africa, India, China or Japan. Despite the diverse cultural makeup of this part of the world, it is still commonly referred to as "Latin" America.

machismo
from the Spanish word "macho" meaning "strong and manly." Machismo is a strong, even exaggerated sense of masculinity expressed by Latin American men. In most Latin American countries, machismo shapes the way men relate to women.

market economy
an economy in which the setting of prices and allocating of resources are determined by the forces of supply and demand. In a market economy, for the most part it is the actions of private corporations and individuals, rather than government, that direct economic activity.

Multilateral Agreement on Investment (MAI)
a proposed agreement that would establish standards for foreign investment. Negotiations have not yet resulted in a signed agreement and it has been suggested that a great deal more work must be done before the MAI can be ratified. If negotiations continue, they may be overseen by the World Trade Organization.

multilateral development banks
MDBs are also known as regional development banks (RDBs), as they often operate within a geographic region. MDBs make loans to less developed countries from funds provided by wealthier nations. Loans are granted at very low interest rates, often with a grace period of several years before repayment begins.

multilateral system of payments
a system by which two or more countries can arrange foreign capital transfers in accordance with the prescribed objectives of the International Monetary Fund.

nepotism
favoritism shown on the basis of family relationship or friendship; often noted in business and politics.

North American Free Trade Agreement (NAFTA)
a comprehensive trade agreement between Canada, the U.S. and Mexico that came into effect in 1994. Under this trade arrangement, thousands of tariffs, quotas and import licences are to be removed by the year 2009. These negotiated changes are designed to increase the partner nations’ investment capabilities, as well as their ability to import and export goods and services. Eventually, NAFTA may be expanded to create a trade agreement spanning all the Americas.

Organization for Economic Cooperation and Development (OECD)
a multilateral organization that promotes policies to increase economic growth and employment, and improve the standard of living both in member and non-member countries.

Organization of American States (OAS)
a international political organization responsible for regional security within the Americas. Almost all countries in the hemisphere belong to the OAS; the notable exception is Cuba, whose membership was suspended following the Cuban Missile Crisis in 1962.

patent
an exclusive right which is granted by government to an inventor for the manufacture, use or sale of a product for a specified period of time.

personal distance
the physical distance from others that a person maintains, unconsciously or consciously, for a sense of comfort.

personal independence
the way in which people feel empowered to act.

private sector
that part of the economy that is under private ownership and control. The private sector includes all privately owned corporations, small businesses, farms, professional firms and non-commercial organizations such as unions, non-profit agencies and churches.

privatization
the process whereby state-owned companies are sold to the private sector.

reserve
the term for lands assigned to Indian people; a Canadian term. The term reservation is used more often in the U.S. By placing Indians on reserves, the government hoped to educate and assimilate Native people into the dominant culture and control the administration of Indian interests.

royalty
a fee paid for the use of someone else’s intangible property, such as the use of a trademark, patent or copyright. In international business, a royalty is often paid under a licensing agreement for the use of technology, industrial processes or a brand name. Payment is usually based on a flat fee or a percentage of sales revenue, sales volume or production volume.

Self Reference Criteria
the tendency to rely on one’s own values to understand and respond to unique situations. In the cultural context, this response is not always appropriate, depending on the situation.

social organization
any institution or activity that is shared by members of a cultural group.

split-run periodicals
periodicals published for the Canadian market that contain advertising directed at Canadians, but which feature American editorial content.

standby reserves
an agreement negotiated between the International Monetary Fund and a country, whereby the IMF gives advance permission to the country so that, in the event of an urgent financial need, that country can borrow "on demand" set amounts of reserve funds.

stereotype
a mental image that often exaggerates the traits of a typical member of a cultural group.

tariff
a tax on imported goods which is applied as a percentage of the goods' value and/or based on the number of units that are imported.

trademark
a word of symbol that distinguishes a company’s product or service from the products or services of its competitors. A trademark is usually registered with the government to ensure its exclusive use by the owner, although some countries do not have registration systems.

Tonalpohualli
the sacred religious calendar of the Aztecs. According to Aztec belief, the gods were extremely jealous of one another; each tried to gain control over the others. The Aztecs used the calendar to divide the days of the year between their gods.

Uruguay Round
Following agreement on a negotiating agenda in Punta del Este, Uruguay in 1986, the world’s trading nations began 7 years of turbulent talks on trade. The talks covered new areas, including trade in services and intellectual property while also negotiating reforms in agriculture and textiles. Completed in 1994, the Uruguay Round represents the largest trade negotiation ever. The talks led to the formation of the World Trade Organization.

wigwam
a rounded or oval hut supported by a framework of poles and covered with hides or bark.

World Trade Organization (WTO)
The World Trade Organization is an international body that establishes rules of trade between nations. Established in 1995, the WTO has 132 member nations.

Xiukpohualli
the Aztec agricultural or solar calendar which was based on the religious calendar known as the Tonalpohualli. According to the solar calendar, 52 years constituted a "calendar round." The Xiukpohualli begins again at the end of each calendar round.