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
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
3
Q
Cultural Stereotyping and
Social Institutions
A
- Education
- Religion
- Social Stratification
4
Q
CULTURAL INTELLIGENCE DIMENSIONS
A
- COGNITIVE
- META- COGNITIVE
- MOTIVATIONAL
- BEHAVIORAL
5
Q
Strategies for Expanding Globally
A
- GLOBAL STRATEGY
- REGIONAL STRATEGY
- LOCAL STRATEGY
6
Q
The Necessity of Global Market
A
- EXPORT
- FOREIGN DIRECT INVESTMENT
- LICENSING AND FRANCHISING
- STRATEGIC
ALLIANCES
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.
8
Q
WHAT: A Systematic analysis of of a firm’s situation with respect to the outside world.
A
Strategic Analysis
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.
10
Q
The Internal Business Environment
A
- Owners
- Managers
- Employees
11
Q
The micro environment
A
- Competitors
- Customers
- Suppliers
- Intermediaries
12
Q
The macro environment
A
- Globalization
- Economy
- Government
- Sociocultural Trends
- Environment
- Demographics
- Laws
- Technology
13
Q
What do you use to examine the firms External Macro Environment?
A
PESTEL Analysis
14
Q
The meaning of the words PESTEL
A
Political, Economic, Social, Technological, Environmental, and Legal Factors
15
Q
PESTLE: Tax rates, tariffs, trade agreements, labor and environmental regulations
A
Political Factors
16
Q
PESTLE: Employment Levels, interest rates, exchange rates
A
Economic Factors
17
Q
PESTLE: Demographic trends, consumer preferences, market diversity
A
Sociocultural Factors
18
Q
PESTLE: The internet, smartphones, connectivity
A
Technological Factors
19
Q
PESTLE: Resource scarcity, recycling, alternative energy sources
A
Environmental Factors
20
Q
PESTLE: Contracts. laws, intellectual property rights
A
Legal Factors
21
Q
What do you use to examine the firms Firms Micro Environment?
A
Porter’s Five Forces
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)
23
Q
What do you use to examine the firms The Internal Environment?
A
Value Chain
VRIO
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
25
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.
Primary Activities
26
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.
Support Activities
27
EXAMINES THE INTERNAL ENVIRONEMNT: The analytical tool used to assess resources and capabilities
VRIO
28
VRIO stands for?
Valuable
Rare
Difficult to imitate
Organized to capture value
29
VRIO: Does the resource or capability generate value for the firm?
Valuable
30
VRIO: Is the resource or capability rare among firms and industry?
Rare
31
VRIO: Would it be difficult or expensive for the other firms to imitate the resource or capability?
Difficult to imitate
32
VRIO: Is the firm effectively organizes to capture the value that this resource or capability generates?
Organized to Capture Value
33
GENERIC COMPETITIVE
STRATEGIES
- Cost Leadership
- Differentiation
- Focus
34
A firm develops a ___________ in response to the factors present in its competitive environment.
Strategic Position
35
____________is essential in identifying and understanding the factors that a strategic position must address.
Strategic analysis
36
___________ is the process of planning and implementing actions that will lead to success in competition.
Strategy
37
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.
Competitive Advantage
38
GENERIC COMPETITIVE
STRATEGIES: a firm offers customers its product or service at a lower price than its rivals can.
cost-leadership strategy
39
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.
differentiation strategy
40
GENERIC COMPETITIVE
STRATEGIES: A firm that focuses still must choose one of the other strategies to organize its activities
Focus
41
_______ essentially involves how we act, live, lead our lives, and treat others
Ethics
42
ETHICS: refers to the field of ethics concerned with our asking how should and ought we live and act
Normative ethics
43
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?
Business Ethics
44
____________often originate and occur from an unawareness of how to sort out and think through potential consequences of our actions or inaction.
Ethical dilemmas
45
TERMINAL OR INSTRUMENTAL: are desired goals, objectives, or end states that individuals wish to pursue
Terminal values
46
TERMINAL OR INSTRUMENTAL: are preferred means of behavior used to obtain those goals
Instrumental values
47
TERMINAL OR INSTRUMENTAL: freedom, security, pleasure, social recognition, friendship, accomplishment, comfort, adventure, equality, wisdom, and happiness
Terminal values
48
TERMINAL OR INSTRUMENTAL: being helpful, honest, courageous, independent, polite, responsible, capable, ambitious, loving, self-contained, and forgiving.
Instrumental values
49
Ethical Principles and Responsible Decision-Making
- Utilitarianism
- Universalism
- Rights
- Justice
- Virtue Ethics
- The Common Good
- Ethical Relativism
50
ETHICAL PRINCIPLES: basically holds that an action is morally right if it produces the greatest good for the greatest number of people.
Utilitarianism: A Consequentialist, “Ends Justifies Means” Approach
51
ETHICAL PRINCIPLES: a principle that considers the welfare and risks of all parties when considering policy decisions and outcomes.
Universalism: A Duty-Based Approach
52
ETHICAL PRINCIPLES: grounded in both legal and moral rights. Legal rights are entitlements that are limited to a particular legal system and jurisdiction
Rights: A Moral and Legal Entitlement–Based Approach
53
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?
Justice: Procedures, Compensation, and Retribution
54
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.
Virtue Ethics: Character-Based Virtues
55
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.”
The Common Good
56
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.”
Ethical Relativism: A Self-Interest Approach
57
____________ is defined as the ability to influence followers to achieve common goals through shared purposes.
Leadership
58
Virtue-related values that help create an ethical corporation and environment
- Show Respect for Others
- Treat All Stakeholders Fairly
- Work Toward a Common Good
- Build Community
- Be Honest
- Stewardship and Servant Leadership Styles
59
STEWADSHIP OR SERVANT: concerned with empowering followers to make decisions and gain control over their work.
Stewardship
60
STEWADSHIP OR SERVANT: involves selflessly working with followers to achieve shared goals that improve collective, rather than individual, welfare.
Servant leadership
61
The servant-leadership approach was formulated by ______________, who believed that leadership is a
natural corollary of service
Robert K. Greenleaf
62
Seven symptoms of the failure of ethical leadership provide a practical lens to examine a leader’s shortsightedness
1. Ethical Blindness
2. Ethical Muteness
3. Ethical Incoherence
4. Ethical Paralysis
5. Ethical Hypocrisy
6. Ethical Schizophrenia
7. Ethical Complacency
63
SEVEN SYMPTOMS OF THE FAILURE OF ETHICAL LEADERSHIP: They do not perceive ethical issues due to inattention or inability
Ethical Blindness
64
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.
Ethical Muteness
65
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
Ethical Incoherence
66
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.
Ethical paralysis
67
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.
Ethical hypocrisy
68
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
Ethical schizophrenia
69
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.
Ethical complacency
70
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.”
organizational corporate culture
71
__________ 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.”
Corporate Social Responsibility (CSR)
72
CSR and____________ are complementary approaches
stakeholder management
73
A ____________ is any group or individual who can affect or is affected by an organization’s strategies, major transactions, and activities
stakeholder
74
Stakeholder Map (Who are the stakeholders)
Political Groups
Owners
Financial Community
Activist Groups
Government
Suppliers
Competitors
Trade Associations
Employees
Unions
Customer Advocate Group
Customers
75
MNE Global Stakeholder Management Issues and Ethical Concerns
Stakeholder Economic Environmental Issues
Stakeholder Political Environment Issues
Stakeholder Ecological Environment Issues
Stakeholder Social and Labor Environmental Issues
Stakeholder Technological Environmental Issues
76
WHAT: The systematic identification, analysis, planning, and implementation of actions designed to engage with stakeholders
stakeholder management
77
An innovative development in ethics and business is the concept of __________
moral entrepreneur
78
_________ argues that corporations should treat all their constituents fairly and that doing so can strengthen companies' reputations, customer relations, and performance in the marketplace.
Stockholder Theory
79
________ is a steadfast devotion to improving the welfare of others
Altruism
