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1ST YEAR MIDTERM > AIR TRANSPORT > Flashcards

AIR TRANSPORT Flashcards

1
Q

Factors Contributing to making globalization relaity

A
  • Growth of trade between countries
  • Growing importance of foreign direct investment
  • Growing competition from emerging market multinationals
  • Globalization- pervasiveness of the Internet
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2
Q

Hofstede’s Cultural Framework or

A
  • Power Defense Index
  • Individualism vs Collectivism
  • Uncertainty Avoidance Index
  • Masculinity vs Femininity
  • Long-Term vs Short-Term Orientation
  • Indulgence vs Restraint
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3
Q

Cultural Stereotyping and
Social Institutions

A
  • Education
  • Religion
  • Social Stratification
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4
Q

CULTURAL INTELLIGENCE DIMENSIONS

A
  • COGNITIVE
  • META- COGNITIVE
  • MOTIVATIONAL
  • BEHAVIORAL
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5
Q

Strategies for Expanding Globally

A
  • GLOBAL STRATEGY
  • REGIONAL STRATEGY
  • LOCAL STRATEGY
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6
Q

The Necessity of Global Market

A
  • EXPORT
  • FOREIGN DIRECT INVESTMENT
  • LICENSING AND FRANCHISING
  • STRATEGIC
    ALLIANCES
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7
Q

Why do we need to understand and learn about the importance of International Management?

A

Because it is critical to understanding future challenges.

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8
Q

WHAT: A Systematic analysis of of a firm’s situation with respect to the outside world.

A

Strategic Analysis

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9
Q

Why do firms need to study their competitive environment?

A

To be aware of and prepared for changes in their competitive environment and to maximize their chance of successfully competing against rivals and sustaining their profitability and market share in their industry.

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10
Q

The Internal Business Environment

A
  • Owners
  • Managers
  • Employees
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11
Q

The micro environment

A
  • Competitors
  • Customers
  • Suppliers
  • Intermediaries
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12
Q

The macro environment

A
  • Globalization
  • Economy
  • Government
  • Sociocultural Trends
  • Environment
  • Demographics
  • Laws
  • Technology
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13
Q

What do you use to examine the firms External Macro Environment?

A

PESTEL Analysis

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14
Q

The meaning of the words PESTEL

A

Political, Economic, Social, Technological, Environmental, and Legal Factors

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15
Q

PESTLE: Tax rates, tariffs, trade agreements, labor and environmental regulations

A

Political Factors

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16
Q

PESTLE: Employment Levels, interest rates, exchange rates

A

Economic Factors

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17
Q

PESTLE: Demographic trends, consumer preferences, market diversity

A

Sociocultural Factors

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18
Q

PESTLE: The internet, smartphones, connectivity

A

Technological Factors

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19
Q

PESTLE: Resource scarcity, recycling, alternative energy sources

A

Environmental Factors

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20
Q

PESTLE: Contracts. laws, intellectual property rights

A

Legal Factors

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21
Q

What do you use to examine the firms Firms Micro Environment?

A

Porter’s Five Forces

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22
Q

What are the Porter’s Five Forces

A

Threat of new Entrants (UP)
Supplier Power (left)
Buyer Power (right)
Threat of Substitutes (down
Industry Rivalry (middle)

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23
Q

What do you use to examine the firms The Internal Environment?

A

Value Chain
VRIO

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24
Q

EXAMINES THE INTERNAL ENVIRONMENT: The progression of activities it undertakes to create a product or service that consumers will pay for

A

Value Chain

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25
Q

VALUE CHAIN: the ones across the bottom half of the diagram, are the actions a firm takes to directly provide a product or service to customers.

A

Primary Activities

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26
Q

VALUE CHAIN: the ones across the top of the diagram, are actions required to sustain the firm that are not directly part of product or service creation.

A

Support Activities

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27
Q

EXAMINES THE INTERNAL ENVIRONEMNT: The analytical tool used to assess resources and capabilities

A

VRIO

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28
Q

VRIO stands for?

A

Valuable
Rare
Difficult to imitate
Organized to capture value

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29
Q

VRIO: Does the resource or capability generate value for the firm?

A

Valuable

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30
Q

VRIO: Is the resource or capability rare among firms and industry?

A

Rare

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31
Q

VRIO: Would it be difficult or expensive for the other firms to imitate the resource or capability?

A

Difficult to imitate

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32
Q

VRIO: Is the firm effectively organizes to capture the value that this resource or capability generates?

A

Organized to Capture Value

33
Q

GENERIC COMPETITIVE
STRATEGIES

A
  • Cost Leadership
  • Differentiation
  • Focus
34
Q

A firm develops a ___________ in response to the factors present in its competitive environment.

A

Strategic Position

35
Q

____________is essential in identifying and understanding the factors that a strategic position must address.

A

Strategic analysis

36
Q

___________ is the process of planning and implementing actions that will lead to success in competition.

A

Strategy

37
Q

A firm is described as having a _____________ when it successfully attracts more customers, earns more profit, or returns more value to its shareholders than rival firms do.

A

Competitive Advantage

38
Q

GENERIC COMPETITIVE
STRATEGIES: a firm offers customers its product or service at a lower price than its rivals can.

A

cost-leadership strategy

39
Q

GENERIC COMPETITIVE
STRATEGIES: firms try to add value to their products and services so they can attract customers who are willing to pay a higher price.

A

differentiation strategy

40
Q

GENERIC COMPETITIVE
STRATEGIES: A firm that focuses still must choose one of the other strategies to organize its activities

A

Focus

41
Q

_______ essentially involves how we act, live, lead our lives, and treat others

A

Ethics

42
Q

ETHICS: refers to the field of ethics concerned with our asking how should and ought we live and act

A

Normative ethics

43
Q

ETHICS: is applied ethics that focuses on real-world situations and the context and environment in which transactions occur—How should we apply our values to the way we conduct business?

A

Business Ethics

44
Q

____________often originate and occur from an unawareness of how to sort out and think through potential consequences of our actions or inaction.

A

Ethical dilemmas

45
Q

TERMINAL OR INSTRUMENTAL: are desired goals, objectives, or end states that individuals wish to pursue

A

Terminal values

46
Q

TERMINAL OR INSTRUMENTAL: are preferred means of behavior used to obtain those goals

A

Instrumental values

47
Q

TERMINAL OR INSTRUMENTAL: freedom, security, pleasure, social recognition, friendship, accomplishment, comfort, adventure, equality, wisdom, and happiness

A

Terminal values

48
Q

TERMINAL OR INSTRUMENTAL: being helpful, honest, courageous, independent, polite, responsible, capable, ambitious, loving, self-contained, and forgiving.

A

Instrumental values

49
Q

Ethical Principles and Responsible Decision-Making

A
  • Utilitarianism
  • Universalism
  • Rights
  • Justice
  • Virtue Ethics
  • The Common Good
  • Ethical Relativism
50
Q

ETHICAL PRINCIPLES: basically holds that an action is morally right if it produces the greatest good for the greatest number of people.

A

Utilitarianism: A Consequentialist, “Ends Justifies Means” Approach

51
Q

ETHICAL PRINCIPLES: a principle that considers the welfare and risks of all parties when considering policy decisions and outcomes.

A

Universalism: A Duty-Based Approach

52
Q

ETHICAL PRINCIPLES: grounded in both legal and moral rights. Legal rights are entitlements that are limited to a particular legal system and jurisdiction

A

Rights: A Moral and Legal Entitlement–Based Approach

53
Q

ETHICAL PRINCIPLES: principle when examining a moral dilemma is to ask of a proposed action or decision: (1) Is it fair? (2) Is it right? (3) Who gets hurt? (4) Who has to pay for the consequences? (5) Do I/we want to assume responsibility for the consequences?

A

Justice: Procedures, Compensation, and Retribution

54
Q

ETHICAL PRINCIPLES: is based on character traits such as being truthful, practical wisdom, happiness, flourishing, and well-being. It focuses on the type of person we ought to be, not on specific actions that should be taken.

A

Virtue Ethics: Character-Based Virtues

55
Q

ETHICAL PRINCIPLES: defined as “the sum of those conditions of social life which allow social groups and their individual members relatively thorough and ready access to their own fulfillment.”

A

The Common Good

56
Q

ETHICAL PRINCIPLES: people set their own moral standards for judging their actions. Only the individual’s self-interest and values are relevant for judging his or her behavior. Moreover, moral standards, according to this principle, vary from one culture to another. “When in Rome, do as the Romans do.”

A

Ethical Relativism: A Self-Interest Approach

57
Q

____________ is defined as the ability to influence followers to achieve common goals through shared purposes.

A

Leadership

58
Q

Virtue-related values that help create an ethical corporation and environment

A
  • Show Respect for Others
  • Treat All Stakeholders Fairly
  • Work Toward a Common Good
  • Build Community
  • Be Honest
  • Stewardship and Servant Leadership Styles
59
Q

STEWADSHIP OR SERVANT: concerned with empowering followers to make decisions and gain control over their work.

A

Stewardship

60
Q

STEWADSHIP OR SERVANT: involves selflessly working with followers to achieve shared goals that improve collective, rather than individual, welfare.

A

Servant leadership

61
Q

The servant-leadership approach was formulated by ______________, who believed that leadership is a
natural corollary of service

A

Robert K. Greenleaf

62
Q

Seven symptoms of the failure of ethical leadership provide a practical lens to examine a leader’s shortsightedness

A
  1. Ethical Blindness
  2. Ethical Muteness
  3. Ethical Incoherence
  4. Ethical Paralysis
  5. Ethical Hypocrisy
  6. Ethical Schizophrenia
  7. Ethical Complacency
63
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They do not perceive ethical issues due to inattention or inability

A

Ethical Blindness

64
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They do not have or use ethical language or principles. They “talk the talk” but do not “walk the talk” on values.

A

Ethical Muteness

65
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They are not able to see inconsistencies among values they say they follow; e.g., they say they value responsibility but reward performance based only on numbers

A

Ethical Incoherence

66
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They are unable to act on their values from lack of knowledge or fear of the consequences of their actions.

A

Ethical paralysis

67
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They are not committed to their espoused values. They delegate things they are unwilling or unable to do themselves.

A

Ethical hypocrisy

68
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They do not have a set of coherent values; they act one way at work and another way at home

A

Ethical schizophrenia

69
Q

SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They believe they can do no wrong because of who they are. They believe they are immune.

A

Ethical complacency

70
Q

Ed Schein, one of the most influential experts on culture, also
defined _____________ as “a pattern of shared tacit assumptions learned or developed by a group as it solves its problems of external adaptation and internal integration that have worked well enough to be considered valid and, therefore, to be taught to new members as the correct way to perceive, think, and feel in relation to those problems.”

A

organizational corporate culture

71
Q

__________ described as “a belief that corporations have a social responsibility beyond pure profit.” In other words, “Firms are social entities, and so they should play a role in the social issues of the day. They should take seriously their ‘obligations to society’ and actively try to fulfill them.”

A

Corporate Social Responsibility (CSR)

72
Q

CSR and____________ are complementary approaches

A

stakeholder management

73
Q

A ____________ is any group or individual who can affect or is affected by an organization’s strategies, major transactions, and activities

A

stakeholder

74
Q

Stakeholder Map (Who are the stakeholders)

A

Political Groups
Owners
Financial Community
Activist Groups
Government
Suppliers
Competitors
Trade Associations
Employees
Unions
Customer Advocate Group
Customers

75
Q

MNE Global Stakeholder Management Issues and Ethical Concerns

A

Stakeholder Economic Environmental Issues
Stakeholder Political Environment Issues
Stakeholder Ecological Environment Issues
Stakeholder Social and Labor Environmental Issues
Stakeholder Technological Environmental Issues

76
Q

WHAT: The systematic identification, analysis, planning, and implementation of actions designed to engage with stakeholders

A

stakeholder management

77
Q

An innovative development in ethics and business is the concept of __________

A

moral entrepreneur

78
Q

_________ argues that corporations should treat all their constituents fairly and that doing so can strengthen companies’ reputations, customer relations, and performance in the marketplace.

A

Stockholder Theory

79
Q

________ is a steadfast devotion to improving the welfare of others

A

Altruism

1ST YEAR MIDTERM (5 decks)

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