Test 1 Flashcards by Kyle Eigenbrod

Q

Planning

A

Always start with budget

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Q

Effective and Efficient

A

Effective is producing and efficient is how well resources are used

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Q

Organizing

A

Create working relationships to achieve goals

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Q

Integration and Interdependence

A

The action and 2 or more people

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Q

NAFTA countries

A

USA, Canada, & Mexico

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Q

ASEAN

A

Asian Nations

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Q

ASEAN Goal

A

Economic growth

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Q

Association that deals with global disputes

A

WTO

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Q

Trade Agreement

A

European Union

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Q

Economies of Scale

A

Efficiency

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Q

Introduction

A

Advertise

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Q

Growth

A

Increase Sales

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Q

Maturity

A

Demand slow

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Q

Decline

A

Profits fall

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Q

CSR

A

Balancing business operations and interactions

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Q

Obstructionist Stance

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A

Doing little as possible

Q

Accommodative Stance

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A

Doing the little extra

Q

Proactive Stance

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A

Tries to help with groups

Q

Ethnocentric

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A

Apply morality used home country regardless of host’s country’s system of ethics

Q

Ethical relatvisim

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A

Morally accepted good or bad

Q

Legal act corruption

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A

Corrupt Practices Act 1977

Q

Moral Universalism

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A

Addressing the need for moral standard

Q

Horizontal Integration

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A

Adding related products

Q

Stuck in middle

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A

Sears and Kmart example

Corporate level of strategy

Competing outside industry

Backward integration

Distribution

Forward integration

Own customer

Crowding out

Increase in borrowing

Offshoring

Advantage of lower costs overseas

37

B

3 Generic startegies

Overall cost leadership, differentiation, & focus strategy

Business level startegy

Within industry

Switching costs

Switching phone plans

Supply of power

No substitutes for suppliers products

International diversification

Finding new markets

Stakeholder & Shareholder

Shareholder is owner of stock