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International Management > Exam 1 > Flashcards

Exam 1 Flashcards

(61 cards)

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0
Q

Negatives of globalization

A

Unequal benefit, Enewetak participation, terrorism, wars, economic segregation, widens gap between rich and poor

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1
Q

Benefits of globalization

A

Lower prices because they’re more efficient, more jobs and access to technology

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2
Q

7 forces driving globalization

A

Rise in global standards, new competition, disintegrating borders, corporate social responsibility, global products/customers, internet/technology

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3
Q

Divisions of worlds economy

A

Developed, developing, transition, emerging

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4
Q

Developing economies

A

Have seen substantial economic growth in last 20 years

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5
Q

Transition economies

A

Changed from mostly communist to capitalism

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6
Q

Emerging economies

A

Rapidly growing, between developing and developed

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7
Q

WTO

A

World trade organization-has reduced tarried and provides structure for continued negotiations and settling disputes among nations

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8
Q

Regional trade agreements

A

Agreements among nations to reduce tariffs and develop similar technical and economic standards

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9
Q

FDI

A

Foreign direct investment- occurs when a multinational company from 1 country has an ownership position located in another country

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10
Q

Types of risks

A

Economic, political, war/terrorism

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11
Q

ISO

A

International organization for standardization

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12
Q

Social/ethical issues that come from globalization

A

Climate change, bribery, sweatshops, pollution

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13
Q

What determines culture

A

Religion, language, education, social structure, political and economic philosophy

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14
Q

Culture is made up of ____&____

A

Front and back stage

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15
Q

Front stage of culture

A

Easily observable aspects

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16
Q

Back stage of culture

A

Only insiders/members understand that aspect of culture

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17
Q

3 levels of culture

A

National, business and organizational/occupational

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18
Q

3 diagnostic models of culture

A

Hofstede, GLOBE, 7d

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19
Q

GLOBE

A

Global leadership and organizational behavior effectiveness project

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20
Q

Ethnocentrism

A

When people from one culture believe their norms, values and beliefs are best

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21
Q

Cultural intelligence

A

Ability to interact effectively in multiple cultures

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22
Q

Cultural relativism

A

Be life that all cultures are correct and moral for the people of those cultures

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23
Q

Industrial context

A

Economic system, education, religion, social inequality…that can produce important business related country differences

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24
National context
Made up of the respective national cultures and social institutions of any society
25
Types of economic systems
Capitalist, socialist, mixed economy
26
Capitalist system
Production is decentralized to private owners
27
Socialists/command economy
Production resources are owner by the state
28
Mixed economy
Combines aspect of both (Sweden, France)
29
Index of economic freedom
Determined the extent if governmental intervention in a country, includes 10 indicators ranging from taxation to property rights
30
3 stages of industrialization preindustrial
Preindustrial society, industrial society, post industrial society
31
Islam
Based on submission to the will of Allah (god), based on 5 pillars, society is divided by gender
32
5 pillars of Islam
Pure unity of being, continuous prayer, sharing, ramadan fasts, return to Mecca
33
Hinduism
Oldest religion, live life according to Dharma, believe in karma and reincarnation
34
Buddhism
Focuses on suffering, emphasizes on teamwork, encourages working hard
35
Primary stakeholders
Directly linked to a company's survival and include customers, suppliers, employees and shareholders
36
Secondary stakeholders
Less directly linked, includes media, trade association, and special interest groups
37
Moral languages
Ways people use to make ethical decisions and explain their choices: virtue, self control, avoiding harm, social contract, rights and duties, maximizing human welfare
38
Ethical convergence
Growing pressure to have same rules and social responsibility due to increased contact among people from different ethical cultural systems
39
Prescriptive ethics
Suggested guidelines for ethical behavior of MNC guided by avoiding harm, rights and duties and social contract
40
Ethical relativism
Each society's view of ethics must be considered legitimate and ethical, can lead to convenient relativism
41
Convenient relativism
WhereMNCs only behave a certain way to please cultural differences
42
Ethical universalism
Basic moral principles that transcend cultural and national boundaries
43
Forms of analysis
Economic, legal, ethical
44
Economic analysis
Focuses on what is the best decision for profits
45
Legal analysis
Focuses on only meeting legal requirements of host countries
46
Ethical analysis
Focused on what is right
47
Capabilities
Ability to assemble and coordinate resources effectively for long term success
48
Distinctive competences
Strengths that allow companies to outperform rivals (quality, innovation)
49
Offensive strategies
To attack competition; direct, end run, preemptive, acquisitions
50
Direct attacks
Price cutting, adding new features
51
End run offensives
Avoid direct competition by seeking unoccupied, ignored or under served markets
52
Preemptive competitive strategies
Being first to obtain a particular position
53
Acquisitions
Buying out a competitor
54
Defensive strategies
To avoid being attacked: convincing firms to seek other targets, blunting the impact, proactively defending yourself
55
Counter parry strategy
Fending off competitors attack in one country by attacking in another (Fuji film/Kodak)
56
Unrelated diversification
Firm acquired business in any industry
57
4 strategy formulation analysis techniques
Porters 5 forces model, industry and country driving forces, KSF, competitor analysis
58
Porter 5 forces model
Barriers to entry, power of buyers, power of substitutes, rivalry among competitors, power of suppliers and complementers
59
KSF
Key success factors
60
Competitor analysis
4 steps: 1) identify strategic intent of group 2) identify current generic strategies 3) identify offensive/defensive strategies 4) assess current position of competition

International Management (3 decks)

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