Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
25 Cards in this Set
- Front
- Back
|
Globalizaiton |
integration and interdependence of economic, technological, socio-cultural, and political systems across diverse geographic regions |
|
|
European union |
created a single market by a system of laws that apply in all member states, guaranteeing the freedom of movement of people, goods, services, and capital -introduced common currency (euro) |
|
|
NAFTA |
-treaty in 1994 -US, Canada, and Mexico signed to eliminate tariffs -trading regulations on on agricultural products -open boarders are good for industries |
|
|
ASEAN |
-1967 -accelerating economic growth -promoting social and cultural development -ensuring peace and stability -freer flow of goods and services |
|
|
MERCORSUR |
-1991 -created to promote economic growth and integration through reduction of tariffs and free flow of goods |
|
|
Comparative advatage |
countries should specialize in producing goods for which they have the lowest opportunity cost of production |
|
|
Business environment |
represents all of the external forces that affects the firms business |
|
|
General environment |
includes the technological, economic, political/legal, and socio-culture dimensions that affects a firms external environment |
|
|
Technological dimension |
the processes, technologies, or systems that a firm can use to produce outputs |
|
|
Economic dimension |
the general economic environment in the markets where the firm performs activities -GDP -inflation -unemployment |
|
|
Political dimension |
refers to the political events and activities in a market that affect a firm -fees -permits -restrictions |
|
|
Legal dimension |
the regulations and laws that a firm encounters in its markets |
|
|
Socio-cultural dimension |
demographic characteristics as well as the values and customs of a society |
|
|
Global dimension |
the extent that a company affects or is affected by firms or other entities in foreign countries |
|
|
Task environment |
includes entities that directly affect a firm a firm on a constant basis and include competitors, suppliers and customers |
|
|
Competitors |
any organization that creates goods or services targeted at a similar group of customers |
|
|
Social values |
the deeply rooted system of principles that guide individuals in their everyday choices and interactions |
|
|
Suppliers |
a company that provides resources of services for a firm to help in its creation or products and services |
|
|
Customers |
the people or other organizations that buy a firm's products and services |
|
|
Internal environment |
a group of parties or factors that directly impact a firm, including owners, board of directors, employees, and culture |
|
|
Owners |
the people or institutions that maintain a legal control of an organization |
|
|
Board of directors |
a group of individuals elected by shareholders and charged with overseeing the general direction of the firm |
|
|
Employees |
the people who make the products and provide the services that allow a firm to exist |
|
|
Culture |
pattern of basic assumptions about the way in which an organization and individuals in it should work and interact with each other |
|
|
Corporate social responsibility |
the moral obligation approach argues that companies have a duty to be good citizens and should balance the interests of shareholders with the interests of the community in which they operate |
