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INTERNATIONAL BUSINESS AND TRADE > CH5-International Business And Trade: An Overview > Flashcards

CH5-International Business And Trade: An Overview Flashcards

1
Q

It involves more than one country or relates to or affecting two or more nations.

A

International

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2
Q

It is generally defined as an endeavor to make a profit.

A

Business

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3
Q

A person’s usual or principal work as a means of earning a living.

A

Occupation

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4
Q

It involves specialized educational training and a formal qualification and license.

A

Profession

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5
Q

Basic economic concept involving the buying, selling or exchange of goods and services.

A

Trade

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6
Q

What are the four types of business?

A

Service, trading, manufacturing and hybrid.

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7
Q

Any activity/endeavor among nations around the globe involving the buying, selling and exchanging of goods, services, capital, labor, resources, technology.

A

International business and trade

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8
Q

It pertains to profit (economy), people (society), and the planet (environment).

A

Triple Bottom Line (TBL)

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9
Q

Assets investment directly into a foreign country’s buildings, equipment or organizations.

A

Foreign Direct Investment

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10
Q

Selling products to foreign markets

A

Exporting

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11
Q

Buying foreign products

A

Importing

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12
Q

Exports+imports= ?

A

Total trade

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13
Q

Contractual arrangements between countries concerning their trade relationships.

A

Trade agreements/treaties

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14
Q

A contractual arrangements where the licensor sells the right to use intellectual property or manufacture a product to the license for royalty.

A

Licensing

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15
Q

A certain percent of the sales of the product or intellectual property.

A

Royalty

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16
Q

A contractual arrangement in which the franchisor permits the franchise to use the business model or brand name for a fee, to conduct business as an independent branch of the franchisor.

A

Franchising

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17
Q

A company whose common stock is 100% owned by the parent company.

A

Wholly owned subsidiary

18
Q

Refers to the buying global financial instruments or foreign direct investment by putting up a business in a certain country.

A

International investing

19
Q

Residents of one country goes to another country to work.

A

Labor migration

20
Q

The process of conveying results stemming from scientific and technological research to the market place and to wider society, along with associated skills and procedures.

A

Technology Transfer

21
Q

What are the basic principles of international trade that seem to underpin greater prosperity among nations?

A

a. Investments particularly foreign direct investments
b. The spread of technology
c. strong institutions
d. sound macroeconomic policies
e. an educated workforce; and
f. existence of a market economy

22
Q

The increasing connectedness, integration, and interdependece of world cultures, economies, politics, and environment.

A

Globalization

23
Q

The first bilateral free trade agreement of the Philippines signed in Helsinki, Finland by then President Gloria Macapagal-Arroyo and former Prime Minister Junichiro Koizumi on Sept. 9, 2006.

A

Philippines-Japan Economic Partnership Agreement (PJEPA)

24
Q

UNder ASEAN, what countries does Philippine prefer in trade agreements?

A

China, Hongkong, India, Japan, South Korea, Australia and New Zealand.

25
Q

What countries are included in the Philippines and the European Free Trade Association (EFTA), Effective in 2018?

A

Iceland, Liechtenstein, Norway and Switzerland.

26
Q

An amalgamation or a two-level system linguistic hybrid og globalisation and localization.

A

Glocalization

27
Q

Who popularized glocalization?

A

Roland Robertson

28
Q

What are the three levels of glocalization?

A

1.Subnational (local)
2. Supranational (global)
3. Transnational (international)

29
Q

What are the two typical reactions and results of interplay of global and local forces?

A

Opportunistic reaction and rebellious reaction

30
Q

It refers to the marketing strategies and business methodologies of companies in a foreign market. It is creation of products or services for the global market by adapting them to local cultures and environment.

A

Glocalization

31
Q

McDonald Mascot in France

A

Asterix

32
Q

McDonald beef burger in India

A

Mcalootikki burgers

33
Q

Mcdo in Italy

A

McItaly burger

34
Q

Mcdo in India

A

Maharaja Mac

35
Q

Mcdo in Canada

A

McLobster

36
Q

Mcdo in Japan

A

Ebi filet-O, Teriyaki Burger w/ seaweed shaker fries, Croquette burger and Bacon potato pie

37
Q

KFC in India

A

Spicier chicken, Krushers in the cold beverages, Chana Snacker (for vegetarians in India)

38
Q

KFC in Thailand

A

Thali

39
Q

The creation of hybrids where mixed cultures take advantage of the opportunities provided by international business and trade.

A

Opportunistic reaction

40
Q

A reaction in which fosters a resistance identity defending local history traditions and authentic cultures.

A

Rebellious reaction

41
Q

Factors that can maximize global opportunities

A
  1. Leadership
  2. Information and Communications Technology
  3. Education
  4. Global Mindset

INTERNATIONAL BUSINESS AND TRADE (5 decks)

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