Tutorial 7 Flashcards
(45 cards)
Chapter 11
direct exports
The sale of products made by firms in their home country to customers in other countries.
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fob(free on board)
Contract clause: the seller has to deliver goods free on board of a ship or train.
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cif(cost of insurance and freight)
Contract clause: the seller has to pay all transportation costs to a destination port.
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bill of lading(B/L)
Document certifying the delivery of the goods to a ship or train.
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letter of credit
A financial contract that states that the importer’s bank will pay a specific sum of money to the exporter upon delivery of the merchandise.
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indirect exports
A way for SMEs to reach overseas customers by exporting through domestic- based export intermediaries.
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export intermediaries
A firm that performs an important intermediary function by linking sellers and buyers overseas.
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distributors
Intermediaries trading on their own account.
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cross border services
Supplying services across national borders.
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servicing foreign residents
Supplying services to customers coming from abroad.
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licensing
A contract by which a firm allows another firm to use its intellectual property rights in return for a fee
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franchising
A contract by which a firm allows another firm to
use its branded service or products in return for a fee.
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turnkey projects
Projects in which clients pay contractors to design and construct new facilities and train personnel.
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design and built contract
A contract combining the architectural or design work with the actual construction.
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built operate transfer
A contract combining the construction and temporary operation of a project eventually to be transferred to a new owner.
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tender
A competition for a major contract.
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consortium
A project-based temporary business owned and managed jointly by several firms.
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subcontracting
A contract that involves outsourcing of an intermediate stage of a value chain.
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management contract
A contract over the management of assets or a firm owned by someone else.
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experiential knowledge
Knowledge learned by engaging in the activity and context.
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Uppsala model
A model of internationalization processes focusing on learning processes.
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network internationalization model
A model of internationalization that focuses on the international growth of business networks.
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stages model
Models depicting internationalization as
a slow stage-by stage process an SME must go through.
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international new venture
Start-up company that, from inception, seeks
to derive significant competitive advantages from the use of resources and the sale of outputs in multiple countries.
