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77 Cards in this Set
- Front
- Back
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Communication |
sending and recieving symbols w meanings attached |
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charismatic leadership tactics |
communication techniques people use to make themselves more leaderlike |
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Noise |
anything that interfers w communtication |
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communication channel richness |
capacity of a communication channel to effectively carry info |
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communication channel |
pathway used to carry info |
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nonverbal communication |
takes place through gestures etc |
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mixed message |
when words and body language communicate something different |
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inforamtion filtering |
international distortion of info to make it more favorable to the recipient |
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active listening |
helps soucre of a message say what he or she really means |
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feedback |
process of telling someone else how you feel about something that person did or said |
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proxemics |
study of way we use communication with space |
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communication transparnecy |
involves being honest and openly sharing accurate and complete info |
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open-book management |
managers provide employees with essential financial info about their employers |
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ethnocentrism |
considers one's culture superior to others' |
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diversity |
individual differneces: race gender, culture, age
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iclusivity |
how open an org. is to anyone who can perform a job |
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multicultural org |
respect for diversity by basing org. on pluralism and inclusivity |
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glass ceiling |
hidden barrier for advancement of women and minorities |
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generational subcultures |
similarities of culture in age groups |
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high-context cultures |
rely on mostly nonverbal and situation cues for communication. i.e. vietnam |
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low-context cultures |
rely mostly on written/spoken cues for communication |
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tight cultures |
norms are rigid and clear, and member try to conform. |
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Hofstede's model |
identifies 40 countries compared to U.S. power distance, uncertainty avoidance, individualism-collectivism, masculine-feminine. |
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time orientation |
the degree to which a society emphasized short-term/ long-term goals |
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ecological fallacy |
assumes that a generalized culture value applies equally well to all members of the culture |
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global economy |
resources, market, and competition are worldwide in scope |
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globalization |
is the process of growing interdependence among elements of the global economy |
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insourcing |
creation of domestic jobs by foreign employers |
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outsourcing |
shifts local jobs to foreign locations to take advantage of lower-wage labor in other countries |
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global sourcing |
firms, purchase materials, manufacturing, or services around the world for local use. |
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global supply chain |
network of a firm's outsourcing suppliers and contractors |
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reshoring |
moves foreign production and jobs back to domestic locations |
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exporting |
local products are sold abroad |
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importing |
process of acquiring products abroad and selling them in domestic markets |
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licensing |
one firm pays a fee for rights to make or sell another company's products |
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franchising |
firm pays a fee for rights to use another company's name and operating methods |
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joint venture |
operates in a foreign country through co-ownership with local partners |
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global strategic alliance |
each partner hopes to achieve through cooperation things they couldn't do alone |
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foreign subsidiary |
is a local operation completely owned by a foreign firm |
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World Trade Organization (WWO) |
global institution established to promote free trade and open markets around the world |
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most favored nation status |
gives a trading partner the most favorable treatment for imports and exports |
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tarrifs |
are taxes governments levy on imports from abroad |
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non-tariff barriers |
non-tax policies that governments enact to discourage imports, such as quotas and import restrictions |
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protectionism |
is a call for tariffs and favorable treatments to protect domestic firms from foreign competition |
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NAFTA |
North American Free Trade Agreement liking Canada, the U.S. and mexico in economic alliance |
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EU |
European Union is a political and economic alliance of 28 European countries |
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MNC |
has extensive international business dealings in many foreign countries |
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corruption |
involves illegal practices to further one's business interests |
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Foreign Corrupt practices act (FCPA) |
makes it illegal for u.s. firms and their rep's to engage in corrupt practices overseas |
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sweatshops |
employ workers at very low wages, for long hours, and in poor working conditions |
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child labor |
full-time employment of children for work otherwise done by adults |
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currency risk |
possible profit loss because of fluctuating exchange rates |
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political risk |
possible loss because of instability and political changes in foreign countries |
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family business |
owned and financially controlled by family members |
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succession plan |
how the leadership transition and related financial matters will be handled. |
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business incubator |
facility that offers services to help new businesses get established |
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small business development centers |
offer guidance to entrepreneurs and small business owners on how to set up and manage business operations |
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business plan |
describs the direction for a new business and the financing needed to operate |
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sole proprietorship |
an individual pursuing business for a profit |
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partnership |
when two or more people agree to contribute resources to start and operate a business together |
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corperation |
legal entity that exists separately from its owners |
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benefit corporation (B-CORP) |
is a corperate form for businesses whose stated goals are to combine making a profit with benefiting society and the environemt |
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Limited liability corporation (LLC) |
combines he advantages of the sole proprietorship, partnership, and corporation |
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Debt financing |
involves borrowing money from another person, bank, financial intitution |
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equity financing |
gives ownership shares to outsiders in return for their financial investments |
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venture capitalists |
make large investments in new ventures in return for an equity stake in the business |
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initial public offering (IPO) |
an initial sellling of shars of stock to the public at large |
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angel inestor |
is a wealthy individual willing to invest in return for equity in a new venture |
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crowdfunding |
new ventures go online to get start-up financing for the businesses from crowds of investors |
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entrepreneurship |
risk taking behavior for business success |
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serial entrepreneurship |
person runs a business and nonprofits over and over again, with different intersts each time |
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first-mover advantage |
comes from being first to exploit a niche or enter a market |
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social entrepreneur |
takes risks to find new ways to solve pressing problems |
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small bsiness |
fewer than 500 employees/independently owned |
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franchise |
business owner sells the rights to operate the same business in another location |
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business model |
plan for making profit by generating revenues that are greater costs |
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Start-up |
new venture trying to find a profitable business model for future success |
