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23 Cards in this Set
- Front
- Back
export
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When a firm simply wants to sell its products and services in foreign marketplaces
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licensing
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Leases the right to use its intellectual property (ie. patents) to another firm, called the licensee, in exchange for a fee. (E.g. Heineken and Pepsi)
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Franchising
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Allows an independent organization to operate a business under the name of another in return for a fee. (E.g. McD’s).
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Contract manufacturing
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when outsourcing of the creation of product occur
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Management contracts
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means one company sells its management (sometimes technical) expertise to a company in another area of the world.
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export corporation
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tends to view the world as a single marketplace and strives to create standardized goods or services that will meet the needs of customers everywhere.
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multilocal companies
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believe that consumers in each country, or region, are fundamentally different in their tastes and preference, export organizations believe that consumers are basically the same worldwide.
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Global approach
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tries to combine the benefits of an export orientation and multilocal organization. Try to achieve global-scale efficiencies, while remaining locally responsive to their customers. (E.g. Ford Motor Company)
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ethnocentric approach
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foreign subsidiaries have little autonomy, operations are typically centralized and major decisions are made at the corporate headquarters
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polycentric philosophy
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tend to treat each subsidiary as a distinct entity with some level of decision-making authority
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geocentric managerial approach
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strives to integrate its businesses. Relationships between headquarters and foreign subsidiaries tend to be extremely collaborative, with each participant contributing important information, perspective, and decision-making factors
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Third party nationals (TCN
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residents of a different country that the parent or host country.
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regiocentric mangerial approach
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scaled down version of the geocentric model in that it tends to appoint people to positions within general regions of the world. (E.g. Coca-cola)
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expatriates
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who are placed in an assignment outside their home country.
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Short-term assignments
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something longer than a business trip” staying in a hotel
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Developmental assignments -
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necessity for a high-potential fast-tracker in many large international companies
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Strategic assignments
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persons with special skills who are moved to become a country manager in an unfamiliar area
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long-term assignment -
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similar to the traditional expatriate role. Involve start ups, or an ongoing managerial presence to resolve major problems and who typically be taken by a “career expatriate”
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acquisitions
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involve the purchase of an existing business
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global mindset
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is more a general description of the need for all organizational decision makers to think well beyond domestic issues
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intermediaries
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thir party that specialize in importing and exporting
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joint venture
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create a new separate company owned jointly by partners
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strategic alliances
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when companies agree to partner with one another, but do not set up a separate entity
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