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13 Cards in this Set
- Front
- Back
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Globalization |
The trend of the world economy toward becoming a more interdependent system |
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Multinational Corporation |
Is a business firm with operations in several countries |
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Ethnocentric Managers |
Believe that their native country, culture, language, and behavior are superior to all others |
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Geocentric Managers |
Accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective |
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Polycentric Managers |
Accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective |
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Why do companies expand internationally? |
1. Availability of Supplies 2. New Markets 3. Lower Labor Costs 4. Access to financial capital 5. Avoidance of Tariffs and Import Quotas |
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Importing |
A company buys goods outside the country and resells them domestically |
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Exporting |
A company produces goods domestically and sells them outside the country |
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WTO |
Designed to monitor and enforce trade agreements |
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Culture |
Shared set of beliefs values knowledge and patterns of behavior common to a group of people |
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Trade Protectionism |
The use of gov. regulations to limit the import of goods and services |
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Tariff |
Is a trade barrier in the form of a customs duty, or tax, levied mainly on imports |
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Parochialism |
A narrow view in which people see things solely through their own perspective |
