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13 Cards in this Set
- Front
- Back
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advanced economies
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post-industrial contries characterized by high per-capita income, highly competitive industries, and well-developed commercial infrastructure
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developing economies
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low-income countires characterized by limited industrialization and stagnant economies
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emerging markets
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subset of former developing economies that have achieved substantial industrialization, modernization, and rapid economic growth since the 80s
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family conglomerate
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a large privately owned commpany that is highly diversified
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global sourcing
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the procurement of products and services from foreign locations. Procurement can be from either independent suppliers or company-owned subsidaries
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new global challengers
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top firms from rapidly developing emerging markets that are fast becoming key contenders in world markets
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outsourcing
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procurement of selected value adding activities, including production of intermediate goods or finsihed products from independent suppliers
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privitization
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transfer of state-owned industries to private concerns
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tenders
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formal offers made by a buyer to purchase certain products or services
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transition economies
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subset of emerging markets that have transformed from centrally planned economies into liberalized markets
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emerging markets
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represent promising export markets for products and services and are ideal bases for locating manufacturing activities
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1. rely on per-capita income
2. considered the size and growth rate of the middle class 3. Build a more comprehensive set of indicators such as the emerging market potential index |
Managers should follow these three approaches to more realistically assess emerging market potential
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risks of emerging markets
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political instability, inadequate legal and institutional frameworks, lack of transparency, and inadequate intellectual property are among the factors that add to the cost of doing business
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