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28 Cards in this Set
- Front
- Back
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Globalization |
The worldwide movement toward economic, financial, trade, and communications integration |
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Global Sourcing |
A strategy in which a business seeks the most cost-efficient location for manufacturing a product or offering its services |
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Importing |
Bringing a good or service from a foreign country for sale or use |
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Exporting |
Sending a domestic good or service to a foreign country for sale or use |
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Licensing |
Permission granted by one company to another to use or manufacture its product for a specified payment |
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Franchising |
The purchase of the rights to open and operate a location of a larger company as well as that company’s processes and systems |
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Joint venture |
A cooperative enterprise between 2 or kore business entities for a specific purpose |
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Strategic alliance |
An arrangement between two companies that have decided to share resources for a specific, mutually beneficial project |
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Foreign subsidiary |
A partial or wholly owned company that is part of a larger corporation with headquarters in another country |
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International Free Trade |
System in which goods, capital, and labor flow freely between nations, without barriers that could hinder the trade process |
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Trade Blocs |
An agreement between states, regions, or countries, to reduce barriers to trade between the participating regions |
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North American Free Trade Agreement (NAFTA) |
Agreement between US, Mexico and Canada. Eliminated nearly all taxes and quotas on goods between these countries |
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European Union (EU) |
Agreement among major EU nations that makes up the world’s largest free market. |
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Association of Southeast Asian Nations (ASEAN) |
10 SE Asian countries established their agreement in 1967. |
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Mercado Común del Sur (MERCOSUR) |
South American trading bloc, established in 1991. Largest food producer in the world. |
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International Monetary Fund (IMF) |
It’s purpose is to ensure Thea stability of the international monetary system |
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World Trade Organization (WTO) |
Settles trade disputes between members and support the needs of developing countries |
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World Bank |
Provide low-interest loans and grants to developing countries to support infrastructure, public admin, and several other areas |
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Trade Protectionism |
Economic policy if restraining trade between nations through a variety of methods and gov. regulations |
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Tariff |
A tax imposed on imported goods and services |
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Duties |
The actual amount of taxed money pain on imported products |
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Import quotas |
A physical limit on the quantity of a hood that can be imported over a given period of time |
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Dumping |
Exporting of a good at prices lowers than the home-market prices |
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Expatriate |
A person living outside their native country |
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Ethnocentric |
The belief in the superiority of a personas native ethnic group or nation |
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Polycentric |
The belief that locals of the host country know their culture better and should run a business accordingly |
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Geocentric |
The belief in the integration of a global orientation to management |
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GLOBE Project Dimensions |
Performance Orientation Assertiveness Future Orientation Humane Orientation Institutional Collectivism In-Group Collectivism Gender Egalitarianism Power Distance Uncertainty Avoidance |
