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66 Cards in this Set
- Front
- Back
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What are stakeholders? |
The people whose interests are affected by an organisations activities. |
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What are internal stakeholders? |
Employees, owners and the board of directors, if any. |
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Who are owners? |
All those who can claim something as their legal property according to the proportion of the ownership they hold. |
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What are external stakeholders? |
People or groups in the organisations external environment that are affected by it. |
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Who are customers? |
Those who pay to use an organisations goods or services. |
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What is the task environment? |
Eleven groups that present you with daily tasks to handle: Customers, competitors, suppliers, distributors, strategic allies, employee organisations, local communities, financial institutions, government regulators, special-interest groups and mass media. |
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What are Competitors? |
People or organisations that compete for customers or resources |
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What are suppliers? |
A person or organisation that provides supplies - that is, raw material, services, equipment, labour or energy - to other organisations. |
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What are distributors? |
A person or organisation that helps another organization sell its goods and services to customers |
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Who are strategic allies? |
Two organisations that join forces to achieve advantages neither can perform as well alone. |
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Who are Government Regulators? |
Regulatory agencies that establish ground rules under which organisations may operate. |
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What are special-interest groups? |
Non-Government organisations that are groups whose members try to influence specific issues. |
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What are selectional interest groups? |
Promote issues that are relevant to a particular section of society and are most frequently formed around a shared economic interest (e.g: industry associations and trade unions) |
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What are Promotional interest groups? |
Seek support from all members of society or promote a cause that they believe to be in the national interest or at least the interest of a sizeable community |
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What is the general environment? |
The macroenvironment - includes six forces: economic, technological, sociocultural, demographic, politcal-legal and international. |
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What are economic forces? |
The general economic conditions and trends - unemployment, inflation, interest rates, economic growth - that may affect an organisations performance. |
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What are technological forces? |
New developments in methods for transforming resources into goods or services. |
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What are sociocultural forces? |
Influences and trends originating in a country's, a society's or a culture's human relationships and values that may affect an organisation. |
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What are political-legal forces? |
Changes in the way politics shape laws and laws shape the opportunities for and threats to an organisation. |
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What are demographic forces? |
Influences on an organsation airising from changes in the characteristics of a population such as age, gender or ethnic origin. |
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What are international forces? |
Changes in the economic, political, legal and technological global system that may affect an organisation. |
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What is globalisation? |
The trend of the world economy towards becoming a more interdependent system |
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What is the "Global village" |
The "Shrinking of time and space as air travel and the electronic media have made it easier for the people around the globe to communicate with one another. |
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What is e-commerce? |
The buying and selling of goods or services over computer networks. |
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What is the Global economy? |
The increasing tendency of the economies of the world to interact with one another as one market instead of many national markets. |
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What is a multinational corporation? |
A multinational enterprise is a business firm with operations in several different countries. |
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What is a multinational organisation? |
A nonprofit organisation with operations in several countries. |
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Who are Ethnocentric managers? |
People who believe that their native country, culture, language and behavior are superior to all others. |
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What is Parochialism? |
A narrow view in which people see things solely through their own perspective. |
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Who are polycentric managers? |
People who take the view that native managers in the foreign offices best understand native personnel an practices and so the home office should leave them alone. |
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Who are geocentric managers? |
People that accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective. |
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What is Global outsourcing? |
Offshoring - Involves using suppliers based in another country to provide labour, goods, or services. |
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What is importing? |
Buying goods outside the country and reselling them domestically. |
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What is outsourcing? |
Using suppliers outside the company to provide goods and services. |
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What is exporting? |
A company produces goods domestically and sells them outside of the country. |
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What is counter trading? |
Bartering goods for goods. |
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What is Licensing? |
A company allows a foreign company to pay it a gee to make or distribute the first company's product or service. |
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What is Franchising? |
A form of licensing in which a company allows a foreign company to pay it a fee and share of the profit in return for using the first company's brand name and a package of materials or services. |
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What is a Joint Venture? |
A strategic alliance formed with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country. |
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What is meant by wholly owned subsidiary? |
A foreign subsidiary that is totally owned and controlled by an organisation. |
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What is a Greenfield venture? |
A foreign subsidiary that the owning organisation has built from scratch. |
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What is the eclectic theory of multinational enterprise? |
Draws on a range of ideas in economics. |
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What are ownership advantages? |
Expertise or resources that are not available to local firms |
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What are localisation advantages? |
Advantages perceived in the choice of overseas country where a company establishes operations. |
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What is the OLI framework? |
The combination of these factors (Ownership Location and Internalization) explains the existence of multinational companies. |
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What is Free Trade? |
The movement of goods and services among nations without political or economic obstruction. |
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What is Trade protectionism? |
The use of government regulations to limit the import of goods and services. |
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What is a Tariff? |
A trade barrier in the form of a customs duty, or tax, levied mainly on imports. |
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What is an Import Quota? |
A trade barrier in the form of a limit on the numbers of a product that can be imported. |
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What is dumping? |
The practice of a foreign company exporting products abroad at a lower price than the price in the home market - or even below the costs of production - in order to drive down the price of domestic product. |
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What is the non-Tariff barrier? |
Rules and regulations affecting the form in which goods can be exported or procedures adhered to. |
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What is the World Trade Organisation? |
An international agency designed to monitor and enforce trade agreements. |
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What is Embargo? |
A complete ban on the import or export of certain products |
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Who are the World Bank? |
They provide low-interest loans to developing nations for improving transportation educatioin, health and telecommunications. |
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Who are the European union? |
The EU - In 2013, it consisted of 28 trading partners in Europe. |
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What is the IMF? |
International /monetary fund was designed to assist in smoothing the flow of money between nations. |
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What is the trading bloc? |
A group of nations within a geographical region that agree to work towards the removal of trade barriers with one another, in some cases with the target eliminating all barriers to create a completely open market (also known as an economic community) |
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What is the North American Free Trade Agreement (NAFTA)? |
A trading bloc consisting of the US, Canada and Mexico. |
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What is the Trans Pacific Partnership (TPP)? |
Aims to accelerate a regional free trade agreement involving 12 asia-pacific countries. |
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What is the Association of Southeast Asian Nations (ASEAN)? |
A trading bloc consisting of 10 countries in Asia |
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What is the Asia-Pacific Economic Cooperation (APEC)? |
A group of 21 pacific rim countries whose purpose is to improve economic and political ties as a first step towards the removal of trade barriers. |
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What is the Australian New Zealand Closer Economic Relations Trade agreement (CER)? |
Has the objective of increasing trans-tasman economic relations. |
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What is the Mercosur? |
The largest trade bloc in Latin America, with four core members and five associate members. |
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What is the most favoured nation trading status? |
A condition in which a country grants other countries the same favourable trading treatment as extended to its 'most favoured' trading partners. |
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What is Low Context culture? |
In which shared meanings are primarily derived from written and spoken words. |
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What is High Context culture? |
In which people rely heavily on the situatoinal cues for meaning when communicating with others. |
