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41 Cards in this Set
- Front
- Back
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Chief Information Officer (CIO) |
An executive responsible for managing all information resources and processes in an organization |
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Knowledge Worker |
A worker who develops or uses knowledge, contributing to and benefiting from information used in performing various tasks, including planning, acquiring, searching, analyzing, organizing, storing, programming, producing, distributing, marketing, or selling functions |
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Technology Transfers |
The formal transfer of rights to use technology given to the user by the owner (usually the developer) |
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Absolute Advantage |
The situation when a country can produce and sell a product at a lower cost than any other country or when it is only country that can provide the product |
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Association of Southeast Asian Nation (ASEAN) |
The association of Southeast Asian Nations, which, as of 2012, included 10 member states |
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Balance of Payments |
A summary of a country's international financial transactions showing the difference between the country's total payments to and total receipts from other countries |
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Balance of Trade |
The differences between the value of a country's exports and the value of its imports during a certain time |
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Contract Manufacturing |
The practice in which a foreign company manufactures private-label goods under a domestic company's brand name |
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Countertrade |
A form of international trade in which part or all of the payment for goods or services is in the form of other goods and services |
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Customs Regulation |
Regulation on products that are different from generally accepted international standards |
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Devaluation |
A lowering of the value of a nation's currency relative to other currencies
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Direct Foreign Investments |
Active ownership of a foreign company or of manufacturing or market facilities in a foreign country |
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Dumping |
The practice of charging a lower price for a product in foreign markets than in the company's home market |
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Embargo |
A total ban on imports or exports of a product |
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European Union |
Trade agreement among 27 European Nations |
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Exchange Controls |
Laws that require a company earning foreign exchange (foreign currency) from its exports to sell the foreign exchange to a control agency such as a central bank |
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Exporting |
The practice of selling domestically produced goods to buyers in another country |
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Exports |
Goods and services produced in one country and sold in other countries |
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Floating Exchange Rate |
A system in which prices of currencies move up and down based on the demand for and supply of the various currencies |
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Free Trade |
The policy of permitting the people of a country to buy and sell where they please without restrictions |
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Free Trade Zone |
An area where the nations allow free, or almost free, trade with each other while imposing tariffs on goods of nations outside the zone |
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Global Vision |
The ability to recognize and react to international business opportunities, be aware of the threats from foreign competition and effectively use international distribution networks to obtain raw materials and move finished products to consumers |
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Import Quota |
A limit on the quantity of a certain good that can be imported; also known as quantitative restraint |
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Imports |
Goods and services that are brought from other countries |
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Infrastructure |
The basic institution and public facilities on which an economy's development depends |
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International Monetary Fund (IMF) |
An international organization, founded in 1945, that promotes trade, makes short-term loans to member nations, and acts as a lender of last resort for troubled nations |
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Joint Venture |
An agreement in which a domestic ocmpany buys parts of a foreign company or joins with a foreign company to create new entity |
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Licensing |
The legal process whereby a company agrees to allow another company to use a manufacturing process, trademark, patent, trade secret, or other proprietary knowledge in exchange for the payment of a royalty |
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Mercosur |
Trade agreement between Brazil, Argentina, Uruguay, Paraguay, and Venezuela |
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Multinational Corporations |
Corporations that move resources, goods, services, and skills across national boundaries without regard to the country in which their headquarters are located |
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Nationalism |
A sense of national consciousness that boosts the culture and interests of one country over those of all other countries |
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NAFTA |
A 1993 agreement creating a free-trade zone that includes Canada, Mexico, and the United States |
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Preferential Tariff |
A tariff that is lower for some nations than for others |
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Principle of Comparative Advantage
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The concept that each country should specialize in the products that it can produce most readily and cheaply and trade those products for those that other countries can produce more readily and cheaply |
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Protectionism |
The policy of protecting home industries from outside competition by establishing artificial barriers such as tariffs and quotas |
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Protective Tariffs |
Tariffs that are imposed to make imports less attractive to buyers than domestic products |
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Tariff |
A tax imposed on imported goods |
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Trade Deficit |
An unfavourable balance of of trade that occurs when a country imports more than it exports |
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Trade Surplus |
A favourable balance of trade that occurs when a country exports more than it imports |
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World Bank |
An international bank that offers low-interest loans, as well as advice and information to developing nations |
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World Trade Organizations (WTO) |
An organization established by the Uruguay Round in 1994 to oversee international trade, reduce trade barriers, and resolve disputes among member nations |
