International Business - Chapter 11

Front 1

planning

Back 1

process of identifying and selecting an organization's objectives and deciding how the organization will achieve those objectives

Front 2

strategy

Back 2

set of planned actions taken by managers to help a company meet its objectives

Front 3

mission statement

Back 3

written statement of why a company exists and what it plans to accomplish

Front 4

stakeholders

Back 4

all parties, ranging from suppliers and employees to stockholders and consumers, who are affected by a company's activities

Front 5

core competency

Back 5

special ability of a company that competitors find extremely difficult or impossible to equal

Front 6

value-chain analysis

Back 6

process of dividing a company's activities into primary and support activities and identifying those that create value for customers

Front 7

multinational strategy

Back 7

adapting products and their marketing strategies in each national market to suit local preferences

Front 8

global strategy

Back 8

offering the same products using the same marketing strategy in all national markets

Front 9

growth strategy

Back 9

strategy designed to increase the scale or scape of a corporation's operations

Front 10

retrenchment strategy

Back 10

strategy designed to reduce the scale or scope of a corporation's businesses

Front 11

stability strategy

Back 11

strategy designed to guard against change and used by corporations to avoid either growth or retrenchment

Front 12

combination strategy

Back 12

strategy designed to mix growth, retrenchment, and stability strategies across a corporation's business unites

Front 13

low-cost leadership strategy

Back 13

strategy in which a company exploits economies of scale to have the lowest cost structure of any competitor in its industry

Front 14

differentiation strategy

Back 14

strategy in which a company designs its products to be perceived as unique by buyers throughout its industry

Front 15

focus strategy

Back 15

strategy in which a company focuses on serving the needs of a narrowly defined market segment by being the low-cost leader, by differentiating its product or both

Front 16

organizational structure

Back 16

way in which a company divides its activities among separate units and coordinates activities between those units

Front 17

chains of command

Back 17

lines of authority that run from top management to individual employees and specify internal reporting relationships

Front 18

internal division structure

Back 18

organizational structure that separates domestic from international business activities by creating a separate international division with its own manager

Front 19

international area structure

Back 19

organizational structure that organizes a company's entire global operations into countries or geographic regions

Front 20

global product structure

Back 20

organizational structure that divides worldwide operations according to a company's product areas

Front 21

global matrix structure

Back 21

organizational structure that splits the chain of command between product and area divisions

Front 22

self-managed team

Back 22

team in which the employees from a single department take on the responsibilities of their former supervisors

Front 23

cross-functional team

Back 23

team composed of employees who work at similar levels in different functional departments

Front 24

global team

Back 24

team of top managers from both headquarters and international subsidiaries who meet to develop solutions to company-wide problems