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MGMT303 > Ch 4: Globalization > Flashcards

Ch 4: Globalization Flashcards

1
Q

globalization

A

the trend of the world economy toward becoming a more independent system

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2
Q

country rankings

A

Switzerland, united states, singapore

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3
Q

3 developments that reflect globalization

A

-rise of the global village

-e commerce

-trend of becoming one big market

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4
Q

what is competitiveness

A

the set of institutions policies and factors that determine the level of productivity of a country

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5
Q

Global village

A

the shrinking of time and space as air travel and the electronic media have made it easier for ppl of the globe to communicate w each other

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6
Q

Ecommerce

A

the buying and selling of products and services through computer networks

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7
Q

Global economy

A

economies of the world to interact w one another as 1 market instead of as many

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8
Q

Positive effects globalization

A

-availability of supplies
Avoidance of tariffs
Lower labor costs
Access to fnan capital
Newer markets

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9
Q

negative effects globalization

A

Job losses
Threats to info security
Tendency of the econ of the world to interact as one market instead of many

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10
Q

Multinational corporation

A

business firm with operations in several countries (mcdonalds)

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11
Q

Multinational organization

A

nonprofit org with operations in several countries (redcross)

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12
Q

Why learn about international management

A

You may deal with foreign customers or partners

You may deal with foreign employees or suppliers

You may work for a foreign firm in the UDS

You may world for A US firm outside the US

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13
Q

how to be successful abroad

A

-be patient, quiet, and no slang

Be global in focus but study local customs too

Learn appropriate behavior
Learn rituals

Become minimally skilled in language

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14
Q

what are the 3 types of managers

A

ethnocentric
polycentric
geocentric

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15
Q

ethnocentric

A

Believe that their native country, culture, language,etc is superior
Related to parochialism- a narrow view in which ppl see things solely through their perspective

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16
Q

polycentric

A

Take the view that native managers in foreign offices best understand the native personnel/practices so the home office should leave them alone

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17
Q

geocentric

A

Accept that there are diffs/similarities btw home and foreign personnel and practices and that they should use whatever technique is most effective

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18
Q

Why companies expand internationally

A

Availability of supplies
New markets
Lower labor costs
Accesses to financial capital
Avoidance of tariffs and import quotas

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19
Q

Global outsourcing

A

Using suppliers outside the company to provide goods and services

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20
Q

Importing, exporting, and countertrading

A

Importing-buying goods outside the country and reselling them domestically

Exporting-producing goods domestically and selling them outside country

Countertrading- tradings goods for goods

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21
Q

licensing and franchising

A

Licensing-company allows foreign company to pay a fee to make or distribute the product

franchising-Form of licensing in which company can use the brand name and goods in return for fee and share of profit

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22
Q

Joint ventures

A

2 orgs that have joined forces to get advantages they couldn’t get alone

23
Q

Wholly owned subsidiaries

A

Foreign subsidiary that is totally owned and controlled by an organization

24
Q

Tariffs

A

customs duty, or taxi levied on imports

25
Q

Import quotas

A

limits the number of a product that can be imported

26
Q

Embargos

A

complete bans on trade between 1 country and another

27
Q

Sanction

A

a trade prohibition on certain types of products or services for a specific reason

28
Q

4 types of trade barriers

A

sanction, tariff, import quota, embargo

29
Q

Orgs promoting international trade

A

-world trade org
-world bank
-international monetary fund

30
Q

world trade org

A

designed to monitor and enforce trade agreements

31
Q

world bank

A

provide low interest loans to developing nations

32
Q

International monetary fund

A

designed to assist in smoothing the flow btw money and nations

33
Q

Trading bloc

A

countries that have agreed to remove trade barriers w each other

34
Q

NAFTA

A

allows for freer flow of goods, services, and capital in the U.S., Canada, and Mexico.

35
Q

EU

A

28 “borderless” trading partners in Europe

36
Q

APEC

A

group of 21 Pacific Rim countries, most with a Pacific coastline

37
Q

ASEAN

A

trading bloc of 10 countries in Southeast Asia

38
Q

Mercosur

A

largest trading bloc in Latin America.

39
Q

CAFTA-DR

A

Central America, including the Dominican Republic

40
Q

Culture

A

shared set of beliefs, value, knowledge, and patterns of behavior common to a group of ppl

41
Q

Power distance-

A

degree to which a society’s members expect power to be unequally shared.

42
Q

Uncertainty avoidance

A

extent to which a society relies on social norms and procedures to alleviate the unpredictability of future

43
Q

Institutional collectivism

A

extent to which individuals are encouraged and rewarded for loyalty to the group

44
Q

In-group collectivism

A

extent to which people should take pride in being members of their family, friends, and their
work organization.

45
Q

Gender egalitarianism

A

extent to which a society should minimize gender discrimination and inequalities.

46
Q

Assertiveness

A

extent to which a society expects people to be confrontational and competitive as opposed to tender and
modest

47
Q

Future orientation

A

The extent to which a society encourages investment in the future

48
Q

Performance orientation

A

The extent to which society encourages and rewardsits members for performance improvement

49
Q

Human orientation

A

degree to which individuals are encouraged to be altruistic, caring, kind, generous, and fair.

50
Q

Other cultural variations

A

Language, interpersonal space, communication, time orientation, religion, law and political stability

51
Q

Expatriates

A

Americans living or working in a foreign country

52
Q

The ability to operate in different cultures is the definition of _

A

cross-cultural awareness

53
Q

Countries grant most favored nation status as a way to

A

promote strong and more stable ties between countries

54
Q
A

MGMT303 (15 decks)

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