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Enterprise, Culture & Business in the World > 2nd partial > Flashcards

2nd partial Flashcards

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Sociology 101 flashcards
1
Q

Examples of value creation

A

cost leadership
Differentiation
Focus

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2
Q

Company sets out to be the low cost producer of the industry
Economies of scale

A

Cost leadership

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3
Q

Company seeks to be unique in its industry along some dimensions that are widely valued by others

  • product
  • distribution
  • sales
  • mkt
  • service
  • img
A

Differentiation

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4
Q

Company sets out to be the best in a segment(s)

  • can involve cost focus & differentiation focus
  • segment needs to be profitable enough
A

Focus

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5
Q

Move to a new country while keeping your central corporate headquarters in your home country

A

1ST international strategy

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6
Q

Characteristics of international strategy

A 
- extends point of sale / production
G best practices
X risk high and low flexibility
X centralized decisions
- simplest, copy/paste
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7
Q

Offices in different places but implement same strategy

  • high std
  • cheaper but + complex
A

Global strategy

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8
Q

Offices/int. locations have power to change strategy

  • more costly
  • high adaptation
A

Multinational / domestic

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9
Q

Most complex strategy

- high std + high adaptation

A

Transnational

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10
Q

Factors that affect strategy

A 
Economic
Political
Legal
Cultural
Financial
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11
Q

Managers look for opportunities with the greatest RETURN and minimum RISK

A

Economic factor

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12
Q

Measurement of people lacking a minimum std of living

A

Poverty

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13
Q

World Bank measurement of poverty

A 
Extreme poverty (less than 1.25 p/day)
Moderate poverty (less than 2 p/day)
Base of the pyramid (less than 4)
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14
Q

Rate of out of work citizens looking for a job measured against total civilian workforce

A

Unemployment

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15
Q

Government financial obligations

A

Debt

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16
Q

Proportion of population that earns different levels of income

A

Income distribution

17
Q

Statistical measure of distribution used as a gauge of economic inequality, measuring income distribution among a population.
0 (perfect equality)
1 (perfect inequality)

A

Gini coefficient

18
Q

Records all commercial transactions in a country

- commercial balance (exports vs imports)

A

Balance of payments

19
Q

Total output value of everything produced within a country’s boundaries

A

Gross Domestic Product (GDP)

GDP / citizens

20
Q

Political risk

A

(-) Systemic
Procedural
Distributive
(+) Catastrophic

21
Q

Affects all industries in a small way

A

Systemic

22
Q

Affects some industries in a big way

A

Procedural

23
Q

Affects all industries in a big way

A

Distributive

24
Q

Worst case scenario (wars, natural disasters, recession)

A

Catastrophic

25
Q

Institute rules that support business formation, regulate transactions, and stabilize relationships.

A

Legal system in business

26
Q

Historically
based on tradition
precedent
judge

A

common law

27
Q

facts, evidence
based on law
political official

A

civil law

28
Q

based on religious teachings

max authority = religious leader

A

theocratic law

29
Q

more communities
community leader is the authority
based on norms of behavior

A

customary law

30
Q

The ruler commands authority that is above the law.

Anchors totalitarian states

A

rule of man

31
Q

No individual is above laws that are clearly specifies, commonly understood, and fairly enforced.
Present in democracy.

A

rule of law

32
Q

Legal Issues in IB

A 
Starting a business
Making and Enforcing contracts
Hiring and firing
Declaring bankruptcy or closing a business
Paying taxes and loans
Cross-border transactions management
33
Q

Doingbusiness.org

A

Ease of doing business

34
Q

Legal comprehension in a country includes:

A
  • Easiness of opening a new business
  • Avoiding problems
  • Understanding how decisions are made in a new country

Enterprise, Culture & Business in the World (3 decks)

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