Reading...
Play button
Play button
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;
38 Cards in this Set
- Front
- Back
|
International Business
|
a business that engages in international economic activities
|
|
|
Globalization
|
the close integration of countries and peoples of the world
|
|
|
The fundamental question of international business
|
What determines success or failure of the world
|
|
|
Institution based view
|
rules of the game
|
|
|
Resource based view
|
firm's own resources
|
|
|
formal institutions
|
follow the laws, regulations and rules.
regulatory |
|
|
Informal institutions
|
norms, cultures, ethics and normative cognitive
|
|
|
Cognitive Pillar
|
The internalized, taken-for-granted values and beliefs that guide individual and firm behavior
|
|
|
Normative Pillar
|
how the values, beliefs and actions of other relevant players influence the behavior of local individuals and firms
|
|
|
Totalitarianism
|
System in which on person or party exercises absolute political control
|
|
|
civil law
|
derived from roman law
|
|
|
common law
|
shaped by precedents and traditions
|
|
|
theocratic law
|
based on religious teachings
|
|
|
Patents
|
Legal rights awarded by government authorities to inventors of new products or processes
|
|
|
copyrights
|
exclusive legal rights of authors and publish and disseminate their work
|
|
|
Trademark
|
exclusive legal rights of firms to use specific names, brands and designs to differentiate their products from others
|
|
|
Market Economy
|
Free enterprise
|
|
|
Command Economy
|
all factors of production are government or state owned and controlled
|
|
|
Mixed economy
|
characterized elements of both a market and a command economy
|
|
|
Ethnocentrism
|
Self-centered mentality within a society people tend to perceive their own culture, ethics an norms as "natural rational and moral rights"
|
|
|
Lingua Franca
|
The global business language.
English |
|
|
low context cultures
|
less formal
|
|
|
High Context cultures
|
more formal- functionality
|
|
|
Reactive- ethics
|
deny responsibility, do less then required
|
|
|
Defensive- ethics
|
admit responsibility, but fight it, do the least that is required
|
|
|
Accommodative- ethics
|
accept responsibility; do all that is required
|
|
|
Proactive- ethics
|
anticipate responsibility; do more than is required
|
|
|
Cultural intelligence
|
Managers should enhance their cultural intelligence. an individual's ability to understand and adjust to new cultures.
|
|
|
SWOT
|
strengths
weaknesses opportunities & threats |
|
|
Tangible resources
|
physically see it
|
|
|
intangible resources
|
corporate images, brands and patents
|
|
|
Why off shoring
|
to be able to focus more on core activities
|
|
|
why not to off shore
|
if you can manage it all in house
|
|
|
protectionism
|
home country protecting you when you exporting
|
|
|
absolute advantage
|
one country has a complete advantage
India- saffron |
|
|
Comparative advantage
|
has some what of an advantage
tech- US |
|
|
Tariff barriers
|
tax on imported goods
|
|
|
Import quotas
|
restrict amount of goods one country can bring to another
|
