Management Ch 3 And 4

Front 1

Environmental Forces (PEST)

Back 1

1. Political-Legal
2. Economic
3. Sociocultural
4. Technological

-demographic, international

Front 2

Internal Stakeholders

Back 2

employees, owners, board of directors

Front 3

Task Environment

Back 3

customers, competitors, suppliers, distributors, allies, unions, lenders, governments, interest groups, media

present you with daily tasks to handle

Front 4

General Environment

Back 4

MACROENVIRONMENT environmental forces (PEST)

Front 5

ethics

Back 5

standards of right and wrong that influence behavior.

Front 6

values

Back 6

the relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior

Front 7

Four approaches to deciding ethical dilemmas

Back 7

utilitarian, individual, moral-rights, justice

Front 8

Utilitarian approach

Back 8

guided by what will result in the greatest good for the greatest number of people

Front 9

Individual approach

Back 9

guided by what will result in the individual's best long-term interests, which ultimately are in everyone's self-interest

Front 10

Moral-rights approach

Back 10

guided by respect for the fundamental rights of human beings

Front 11

Justice approach

Back 11

is guided by respects for impartial standards of fairness and equity

Front 12

Strategies for International Growth

Back 12

1. Global Outsourcing
2. Importing, Exporting, & Countertrading
3. Licensing & Franchising
4. Joint Ventures
5. Wholly Owned Subsidaries

Front 13

Global Outsourcing

Back 13

using suppliers outside the company (and outside of the US) to provide labor, goods and services

Front 14

Importing

Back 14

a company buys goods outside the country and resells them domestically

Front 15

exporting

Back 15

a company produces goods domestically and sells them outside of the country

Front 16

counter-trading

Back 16

bartering goods for goods

Front 17

licensing

Back 17

a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company's product or service

Front 18

Franchising

Back 18

a form of licensing in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company's brand name and a package of materials and services

Front 19

Joint ventures, also known as 'strategic alliance'

Back 19

with a foreign country to share the risks and rewards of starting a new enterprise together in a foreign country

Front 20

Wholly owned Subsidaries

Back 20

a foreign subsidiary that is totally owned and controlled by an organization

Front 21

free trade

Back 21

the movement of goods and services among nations without political or economic obstruction

Front 22

trade protectionism

Back 22

use of government regulations to limit the import of goods and services

Front 23

tariff

Back 23

a trade barrier in the form of a customs duty, or tax, levied mainly of imports

Front 24

Import quotas

Back 24

a trade barrier in the form of a limit on the numbers of a product that can be imported

Front 25

embargo

Back 25

complete ban on the import or export of certain products

Front 26

trading blocs a.k.a. economic community

Back 26

a group of nations within a geographical region that have agreed to remove trade barriers with one another

Front 27

NAFTA (North American Free Trade Agreement)

Back 27

a trading bloc consisting of the US, Canada, and Mexico

-eliminates 99% of the tariffs and quotas among these countries, allowing for freer flow of goods, services, and capital in North America

Front 28

WTO (World Trade Organization)

Back 28

Agreements based on the GATT (General Agreement on Tariffs and Trade) which was signed in 1947 by 23 nations to reduce worldwide tariffs and other barriers.

Designed to monitor and enforce trade agreements

Front 29

low-context culture

Back 29

Shared meanings are primarily derived from written and spoken workds

Front 30

high-context culture

Back 30

people rely heavily on situational cues for meaning when communicating with others

Front 31

GLOBE Project

Back 31

is a massive and ongoing cross-cultural investigation of nine cultural dimensions involved in leadership and organizational purposes

Front 32

power distance

Back 32

how much unequal distribution of power should there be in organizations and society

Front 33

uncertain avoidance

Back 33

how much should people rely on social norms and rules to avoid uncertainty

Front 34

institutional collectivism

Back 34

how much should leaders encourage and reward loyalty to the social unit

Front 35

in-group-collectivism

Back 35

how much pride and loyalty should people have for their family or organization

Front 36

gender egalitarianism

Back 36

how much should society maximize gender role differences

Front 37

assertiveness

Back 37

how confrontational and dominant should individuals be in social groups

Front 38

future orientation

Back 38

how much should people delay gratification by planning and saving for the future

Front 39

performance orientation

Back 39

how much should individuals be rewarded for improvement and excellence

Front 40

humane orientation

Back 40

how much should society encourage and reward people for being kind, fair, friendly, and generous