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;
55 Cards in this Set
- Front
- Back
|
Perceptions of business behavior
|
58% of U.S. adults rate ethical standards of business executives as "fair" or "poor.”
90% think white-collar crime is "very common" or "somewhat common." 41% of 1,694 corporate employees in a recent survey stated that they were aware of ethical problems in their companies. |
|
|
What are ethics?
|
are the moral principles and values that govern the actions and decisions of an individual or group
|
|
|
What are business ethics?
|
basic values that guide a firm’s behavior.
|
|
|
What is a code of ethics?
|
a formal statement of ethical principles and rules of conduct.
|
|
|
What are some unethical practices by consumers?
|
warranty claims after the claim period
misredeeming coupons fraudulent returns of merchandise inaccurate info on credit applications |
|
|
What is the consumer's bill of rights?
|
Right to safety.
Right to be informed. Right to choose. Right to be heard. |
|
|
What is social responsibility?
|
means that organizations are part of a larger society and are accountable to that society for their actions.
|
|
|
What is global marketing?
|
is marketing to target markets throughout the world, is an imperative for almost every business.
|
|
|
What must managers in a global market do?
|
recognize and react to international opportunities
recognize and react to foreign competition via imports understand how customers and suppliers operate worldwide |
|
|
What is the Importance of Global Marketing to U.S.?
|
U.S. exports about 1/5 of its industrial production and 1/3 of its farm products
1/3 corporate profits are derived from international trade and foreign investment |
|
|
What are the Dynamics Of World Trade Flows?
|
Dollar value of world trade estimated to exceed $11.5 trillion in 2005.
Manufactured goods and commodities - 75% of world trade; services 25%. All world trade does not involve money. 15 to 20% involves countertrade |
|
|
What are quotas?
|
Limitations on the amount of a product allowed to enter or leave a country.
|
|
|
What are the Market Entry Strategies?
|
1. Product strategies
-Product extension -Product adaptation -Product invention 2. Promotion strategies -Same promotion -Adapted promotion |
|
|
What are pricing strategies?
|
Pricing considerations must include extra transportation costs, insurance, taxes, and tariffs.
|
|
|
What is social profit?
|
The benefit an organization and society receive from the organization's ethical practices, community service, efforts to promote cultural diversity, and concern for the natural environment
|
|
|
What are business ethics?
|
Rules of conduct for an organization
|
|
|
What are codes of ethics?
|
Written standards of behavior to which everyone in the organization must subscribe
|
|
|
What is consumerism?
|
A social movement that attempts to protect consumers from harmful business practices
|
|
|
What is corrective advertising?
|
Adveritising that clarifies or qualifies previous deceptive advertising claims
|
|
|
What is puffery?
|
Claims made in advertising of product superiority that cannot be proven true or untrue. This is not illegal.
|
|
|
What is slotting allowance?
|
A fee paid by a manufacturer to a retailer in exchange for agreeing to place products on the retailer's shelves
|
|
|
What is social responsibility?
|
A management practice in which an organization seeks to engage in activties that have a positive effect on society and promote the public good
|
|
|
What is environmental stewardship?
|
A position taken by an organization to protect or enhance the natural envirnonment as it conducts its business activities
|
|
|
What is green marketing?
|
A marketing strategy that supports environmental stewardship by creating an envrionmentally founded differnetial benefit in the minds of consumers
|
|
|
What is cause marketing?
|
Marketing activities in which firms seek to have their corporate identity linked to a good cause through advertising, public service, and publicity
|
|
|
What is cultural diversity?
|
A management practice that actively seeks to include people of different sexes, races, ethnic groups, and religiions in an organization's employees, customers, suppliers, and distribution channel partners
|
|
|
What is world trade?
|
The flow of goods and services among different countries - the value of all the exports and imports of the world's nations
|
|
|
What is countertrade?
|
A type of trade in which goods are paid for with other items instead of with cash
|
|
|
What are born-global firms?
|
Companies that try to sell their products in multiple countries from the moment they're created
|
|
|
What is protectionism?
|
A policy adopted by a government to give domestic companies an advantage
|
|
|
What is the General Agreement on Tariffs and Trade (GATT)?
|
Intenraitonal treaty to reduce import tax levels and trade restrictions
|
|
|
What is the world trade organization (WTO)?
|
An organization that replaced GATT, this org. sets trade rules for its member nations and mediates disputes between nations
|
|
|
What are economic communities?
|
Groups of countries that band together to promote trade among themselves and to make it easier for member nations to compete elsewhere
|
|
|
What is economic infrastructure?
|
The quality of a country's distribution, financial, and communications systems
|
|
|
What is an LDC?
|
A less developed country is one that is at the lowest stage in economic development
|
|
|
What is a standard of living?
|
An indicator of the average quality and quantity of goods and services consumed in a country
|
|
|
What are developing countries?
|
countries in which the eocnomy is shifting its emphasis from agriculture industry
|
|
|
What is a developed country?
|
A country that boasts sophisticated marketing ystems, strong private enterprise, and bountiful market potential for many goods and services
|
|
|
What are economic sanctions?
|
Trade prohibitions imposed by one country against another
|
|
|
What is nationalization?
|
A domestic government's takeover of a foreign company for its assets with some reimbursement, though often not for the full value
|
|
|
What is expopriation?
|
A domestic government's seizure of a foreign company's assets without any compensation.
|
|
|
What are local content rules?
|
A form of protectionism stipulating that a certain proportion of a product must consist of components supplied by industries in the host country
|
|
|
What are cultural values?
|
A society's deeply held beliefs about right and wrong ways to live
|
|
|
What are colectivist cultures?
|
Cultures in which people subordinate their personal goals to those of a stable community
|
|
|
What are individualist cultures?
|
Cultures in which people tend to attach more importance to personal goals than to those of the larget community
|
|
|
What are mores?
|
Customes with a strong moral overtone
|
|
|
What are conventions?
|
Norms regarding the conduct of everyday life
|
|
|
What is ethnocentrism?
|
The tendency to prefer products or people of one's own culture
|
|
|
What are export merchants?
|
Intermediaries used by a firm to represent them in other countries?
|
|
|
What is licensing (in foreign markets)?
|
An agreement in which one firm gives another firm the rights to produce an dmarket products in a specific country or region in return for royalties
|
|
|
What is franchising?
|
A form of licensing involving the right to adapt an entire system of doing business
|
|
|
What is a strategic alliance?
|
A relationship developed betwene a firm seeking a deeper commitment to a foreign market and a domestic firm in the target country
|
|
|
What is a joint venture?
|
A strategic alliance in which a new entity owned by two or more firms is created to allow the partners to pool their resources for common goals
|
|
|
What are gray market goods?
|
Items manufactured outside a country and then iported without the consent of the trademark holder
|
|
|
What is dumping?
|
A company tries to get a toehold in a forein market by pricing its products lower than they are offered at home
|
