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95 Cards in this Set
- Front
- Back
Organizations
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structural arrangements of people brought together to accomplish a goal or goals.
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market
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place where buyers and sellers congregate to bid on products or services.
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efficiency
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using the minimum resources necessary to produce a product or service.
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effectiveness
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the ability of the organization to achieve a goal or goals.
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organizational performance
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an outcome that assesses the degree to which an organization is both efficient in using resources and effective in attaining stated goals.
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system
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a collection of interrelated entities (subsystems) that operate interdependently to achieve common goals.
consists of 3 subsystems: input, processing, and output |
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IPO
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an input subsystem, such as purchasing, ensures that resources are available to produce the product or service. A processing subsystem creates the good or service. An output subsystem makes the product or service available to distributors or customers.
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evolutionary activity
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activity that occurs gradually over long periods of time.
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revolutionary activity
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activity that occurs periodically to forever alter the nature of business transactions
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agrarian economy
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economies prevalent before 1830 that were based on small, family owned farms and small shop production.
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industrial economy
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(1830-1950)...ushered in by technological revolutions, beginning with the invention of steam power, which created the the energy necessary for mass production.
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knowledge economies
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based on information and intangibles such as computer software and financial services.
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management
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a process of achieving organizational goals and objectives through the efforts and contributions of other people
planning, organizing, leading, and controlling |
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managers
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individuals who use principles of management to guide, direct, or oversee the work and performance of others
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planning
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planning activities determine an organization's objectives and establish appropriate strategies for achieving them.
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organizing
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used to create a structure of task and authority relationships that supports the attainment of organizational goals.
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leading
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the process of influencing and persuading people to attain organizational goals.
focuses directly on the employees in the organization. |
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controlling
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requires 3 elements: established standards of performance, identify deviations between actual performance and the established standards, and action to correct performance that fails to meet the standards.
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first line management
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managers who are responsible for the organization's basic work; often called supervisors, managers, or foremen
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middle management
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managers who plan, organize, control, and lead the activities of other managers and who are subject to the management of a superior
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top management
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a small group of senior executives (usually including a chief executive officer, president, or vice president) who are responsible for the performance of the entire organization.
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managerial skills
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an ability or proficiency in performing a particular task. Various skills classifications are important in performing managerial roles.
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Technical skills
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the skill that enables someone to use specific knowledge, techniques, and resources in performing work.
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analytical skills
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enables someone to analyze or logically diagnose even complex problems.
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decision making skills
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enables a manager to make the appropriate decisions for achieving the organization's goals.
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computer skills
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the ability to use business software and related technology.
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people skills
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ability to work with, communicate with, and understand others.
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communication skills
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involve the ability to communicate in ways that other people understand and to seek and use feedback from employees to ensure that the manager is understood.
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conceptual skills
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the ability to see the big picuture--how each part of the organization fits and interacts with other parts to accomplish goals.
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interpersonal roles
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figurehead, leader, and liaison...focus on interpersonal relationships
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informational role
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establishes the manager as the central point for recieving and sending information.
monitor role, disseminator role, spokesperson role |
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monitor role
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involves examining the environment to discover information, changes, opportunities, and problems that may affect the unit.
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disseminator role
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involves providing important or privileged information to subordinates.
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spokesperson role
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the manager represents the unit to other people.
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decisional role
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the role of manager acting as entrepreneur, disturbance handler, resource allocator, and negotiator.
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entrepreneurial role
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to improve the unit.
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disturbance handler role
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managers make decisions or take corrective action in response to pressures beyond their control.
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resource allocator role
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a manager decides who gets which resources (money, people, time, and equipment)
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classical management
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a management theory that emphasized greater workforce productivity.
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scientific management
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a management theory that concentrates on increasing workforce productivity.
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classical organization theory
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a theory that concentrates on top level managers and problems of managing the entire organization.
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Frederick W. Taylor
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called the father of scientific management, was an engineer by training.
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human relations approach
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focuses on individuals working in group settings. Managers and workers are studied in relation to what occurs within the group.
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Hawthorne studies
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famous studies conducted by Elton Mayo at Hawthorne Works of Western Electric in Cicero, Illinois; initially aimed to determine the relationship between the intensity of illumination and efficiency of two groups of workers.
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Hawthorne effect
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The unexpected results of the Hawthorne studies indicated that productivity increased in relation to the presence and attention of the researchers.
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behavioral science
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advocates believe that workers are much more complex than the economic man described in the classical approach or the social man described in the human relations approach.
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decision sciences
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modern management theories decision making, information systems, mathematics, and statistics to aid in making decisions.
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systems theory
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a way of thinking about organizations and management problems from a systems point of view.
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synergistic effect
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the sum total effect of all systems components, as in an organization in which each of its parts perfoms a specific function.
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internal environment
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the set of factors within an enterprise that influence how work is done and how goals are accomplished and that, taken together, create a culture within the organization
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dominant culture
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the core values shared by most of the employees in an organization; for example, Disney's emphasis on quality goods and services.
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organization socialization
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managers and coworkers offer consistent help to newcomers in developing skills and evolving into accepted team members who understand and are committed to the firm's culture.
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values
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the set of convictions that
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Direct forces
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direct forces exert an immediate and daily impact on the organization. These forces include competitors, employees, customers, and suppliers.
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Indirect forces
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Forces in the external environment that influence an organization, but not directly in its daily operations; categorized as social-cultural, economic, global, technological, and political-legal.
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environmental scanning
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the process of collecting information concerning forces in the management environment. Scanning involves gathering information through observation; reviewing business, trade, and government publications; and engaging in research efforts.
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environmental analysis
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the process of assessing and interpreting the information gathered through environmental scanning. A manager reviews the information for accuracy, tries to reconcile inconsistencies in the data, and interprets the findings. Analysis allows a manager to discern changes in the environment and, if possible, to predict trends and changes.
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changing domain
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organizations can decide where they will do business and what they will produce and market.
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recruiting
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one way to manage uncertainty is by hiring top employees from a major competitor.
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buffering
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input buffering manages the flucuations caused by the interruption of supplies of materials needed to manufacture the product.
In output buffering, finished goods are warehoused until they can be absorbed by the environment. |
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smoothing
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a method of maintaing continuous demand for a product or service.
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rationing
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a way of ensuring that all their time is productive.
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external strategies
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organization attempts to change environmental circumstances, thereby reducing environmental uncertainty.
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advertising
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used to signal price changes, new product features, or new locations. Also used to provide information, create brand recognition, and encourage consumer demand.
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contracting
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contracting is a mutually beneficial arrangement. The purpose of the contract is to reduce the uncertainty on both sides of the buyer-seller relationship. The buyer is assured a set price for the contract, and the seller has a guaranteed buyer
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co-opting
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an attempt to influence an external party.
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coalescing
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an alliance of several organizations, bound by common purpose, taking a united action.
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lobbying
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an attempt to influence a decision maker...the act of influencing a public official to understand and appreciate an organization's or industry's perspective on an issue of mutual concern.
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social responsibility
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the awareness that business activities have an impact on society and the consideration of that impact in decision making.
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Occupational safety and Health Administration
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passed in 1970, federal legislation whose primary purpose is to ensure safe working conditions by establishing standards with which employers must comply.
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international business
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the performance of business activities across national boundaries, which have increased steadily since World War II and are expected to continue growing in the twenty-first century.
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international management
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the performance of the management process in an international business setting.
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global outsourcing
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the strategic use of external resources by a firm to perform activities that were previously handled internally.
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Multinational company
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an organization conducting business in two or more countries. MNC's are often based in one country, with operations, production facilities, and/or sales subsidiaries in other countries.
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global corporation
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an oranization that operates as if the world were a single market, and it has corporate headquarters, manufacturing facilities, and marketing operations throughout the world.
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exporting
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the simplest way to enter international business...selling domestic goods to a foreign country.
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licensing
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an agreement in which one firm (the licensor) allows another (the licensee) to sell the licensor's product and use its brand name, and requires the licensee to pay the licensor a commission or royalty.
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trading companies
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not involved in the manufacturing process, they are simply intermediaries that take title to products and undertake all the activities required to move products from the domestic country to customers in a foreign country.
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countertrading
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involves complex bartering agreements between two or more countries.
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joint ventures
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a partnership between a domestic and a foreign firm.
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strategic alliance
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the combination of two firm's resources in a partnership that goes beyond the limits of a joint venture and for which trust is the major requirement.
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direct ownership
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(purchasing one or more business operations in a foreign country). Direct ownership requires a large investment in production facilities, research, personnel, and marketing activities.
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quota
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a limit on the amount of a product that can leave or enter a country; sometimes voluntary.
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embargo
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prohibition of the import or export of certain goods; for example, the Muslim nations' embargo on the importation of alcoholic beverages.
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duty
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a tax that is placed on an import or export.
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customs and entry procedures
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procedures that govern the inspection, documentation, and licensing of imports.
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Webb-Pomerene Export Trade Act (1918)
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exempts U.S. firms from antitrust laws if they are acting together to develop international trade.
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Foreign Corrupt Practices Act (1977)
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Forbids bribing foreign officials to obtain sales for American firms.
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Export Trading Companies Act (1982)
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Encourages the formation of export trading companies by eliminating antitrust barriers and allowing banks to participate in such ventures.
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General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO)
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formed in 1947 by 23 nations to reduce or eliminate tariffs and other barriers to international trade
128 countries, including the United States and Japan |
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European Union (EU)
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founded in 1957 to reduce barriers among members
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Latin American Free Trade Association (LAFTA)
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founded in 1960 to develop free trade among member nations
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European Free Trade Association (EFTA)
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founded in 1960 to eliminate trade restrictions among members and develop common trade policies.
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Organization of Petroleum Exporting Countries (OPEC)
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established in 1960 to provide oil-producing nations control over prices and reduce the oversupply of oil
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International Monetary Fund
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founded in 1944 to promote trade among member nations by eliminating trade barriers and increasing cooperation on financial issues.
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