International Business

Front 1

Tariffs

Back 1

Taxes imposed on imported products, effectively increasing the cost of the acquisition for the customer.

Front 2

Protectionism

Back 2

National Economic policies designed to restrict free trade and protect domestic industries from foreign competition

Front 3

Value Chain

Back 3

Sequence of value-adding activities performed by The Firm

Front 4

Ethnocentrism

Back 4

Using your own culture as the standard for judging others.

Front 5

Born Global

Back 5

A young entrepreneual company that initiates international business activity very early

Front 6

Franchising

Back 6

Arrangement in which the firm allows another the right to use an entire business system in exchange for fees

Front 7

Licensing

Back 7

Arrangement in which the owner of intellectual property grants a firm the right to use that property for a specified period of time in exchange for royalties or other compensation

Front 8

Privatization

Back 8

Transfer of state-owned industries to private concerns

Front 9

Corruption

Back 9

The abuse of power to achieve illegitimate personal gain

Front 10

Dumping

Back 10

Pricing exported products at less than their normal value, generally less than their price in the domestic or third country markets, or at less that production costs

Front 11

Sustainability

Back 11

Meeting humanities needs without harming future generations

Front 12

Mercantalism

Back 12

The belief that national property is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports

Front 13

Absolute advantage

Back 13

Tom Brady - A country benefits by producing only those products using fewer resources than other countries

Front 14

Comparative advantage

Back 14

Forest Gump - when a country is better off producing a product with a lower opportunity cost than others

Front 15

Country Risk

Back 15

Exposure to potential loss or adverse effects on company operations and profitablity caused by developments in a country's political and or legal environment

Front 16

Free Trade area

Back 16

A state of regional integration in which member countries agree to eliminate tariffs and other barriers to trade in products and services within the bloc

Front 17

Subsisidies

Back 17

Monetary or other resources that a government grants to a firm or group of firms resources, usually to encourage exports

Front 18

World Bank

Back 18

An international agency that provides loans and technical assistance to low- and middle income countries with the goal of reducing poverty

Front 19

Uncertainty Avoidance

Back 19

The extent to which people can tolerate risk and uncertainty in their lives

Front 20

Developed economies/countries

Back 20

Low-income countries characterized by limited industrialization and stagnat economies

Front 21

Drivers of Market globalization

Back 21

Political, technological, Market cost, competitive

Front 22

NAFTA

Back 22

North American Free Trade Agreement between Canada United States and Mexico

Front 23

Trade quota

Back 23

Government-imposed limit on the amount of goods that can be imported over a specific period of time

Front 24

WTO

Back 24

World Trade Organization, enforces the rules of international trade

Front 25

GATT

Back 25

General agreement on trade, treaty designed to promote free trade by reducing both tariffs and non-tariff barriers to international trade

Front 26

GDP growth rates

Back 26

Value of all goods and services produced by the domestic economy over a one-year.

Front 27

Capitalism

Back 27

The production of goods and services is based on supply and demand in the General Market

Front 28

Individualism/collectivism

Back 28

Describes whether a personal functions primarily as an individual or as part of a group

Front 29

Joint venture (JV)

Back 29

A form of collaboration between two or more firms to create a new jointly-owned Enterprise

Front 30

Customs Union

Back 30

A stage of regional integration and which the members countries agreed to adopt common tariff and non-tariff barriers on imports from non-member countries

Front 31

Power distance

Back 31

Describe how Society deals with the inequality in power that exist among people

Front 32

Masculinity vs. Femininity

Back 32

A society's orientation based on traditional male and female values

Front 33

U.s. Corrupt Practices Act

Back 33

A United States federal law concern with bribery with foreign officials

Front 34

Porter's diamond

Back 34

A theory / model that is designed to help understand a nation's competitive advantage

Front 35

Dunning Electic model OLI

Back 35

A theory that provides a three-tiered framework for a company to follow when determining if it is beneficial to pursue direct foreign investment

Front 36

Bretton Woods

Back 36

The international monetary Arrangement agreed upon by the Allied Nations. He created the IMF and World Bank

Front 37

Frederick Hayek

Back 37

Promoted the idea that private investment rather than government spending would promote sustainable growth

Front 38

John Keynes

Back 38

Keynes believe capitalism is a good economic system. Saving good times spend in bad

Front 39

Vladimir Lenin

Back 39

Founder of the Russia's Communist Party Soviet Union

Front 40

USSR

Back 40

Soviet Russia socialism

Front 41

Political union

Back 41

A type of State composed of smaller States

Front 42

EU

Back 42

The European Union

Front 43

Global Challengers

Back 43

A group of emerging Challengers that are becoming important players around the globe

Front 44

Expropriation

Back 44

Back some other state or authority for taking property from an owner for public use

Front 45

Common Market

Back 45

Countries opposing few or no duties on trade with one another

Front 46

Nationalization

Back 46

The opposite of privatization

Front 47

Purchasing power parity

Back 47

Theory that states the exchange rate between two countries is equal to the currencies purchasing power

Front 48

Factors proportions

Back 48

One condition for trade is that countries different with respect to the availability of the factors of production

Front 49

High low context

Back 49

Terms used to describe cultures based on how explicit the messages exchanged are and how much the contacts means in certain situations

Front 50

Intermediaries

Back 50

Mediator acts as liaison between businesses and consumers

Front 51

Risks of IB

Back 51

Commercial, currency, country, cross-cultural

Front 52

Which of the following reflects the major contribution of GATT to globalization?

Back 52

Reductions of barriers to international trade

Front 53

The free movement of capital around the world is known by

Back 53

The globalization of capital

Front 54

Logistics service providers, Freight forwarders, and banks are examples of

Back 54

Facilitators

Front 55

The ability of a Nation to manage its own Foreign Affairs is known as

Back 55

Sovereignty

Front 56

The learn shared in a during orientation patterns in society

Back 56

Culture