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Organizational Management > Ch 17 > Flashcards

Ch 17 Flashcards

1
Q

Global Economy

A

resources, markets, and competition are worldwide in scope

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2
Q

Globalization

A

process of growing interdependence among elements of the global economy

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3
Q

Insourcing

A

creating of domestic jobs by foreign employers

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4
Q

Outsourcing

A

shifts local jobs to foreign locations to take advantage of lower-wage labor in other countries

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5
Q

International Business

A

conducts commercial transactions across national boundries

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6
Q

Global Sourcing

A

firms purchase materials, manufacturing, or services around the world for local use

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7
Q

Global Supply Chain

A

network of a firm’s outsourcing suppliers and contractors

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8
Q

Reshoring

A

moves foreign production and jobs back to domestic locations

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9
Q

Exporting

A

local products are sold abroad

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10
Q

Importing

A

process of acquiring products abroad and selling them in domestic markets

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11
Q

Licensing

A

one firm pays a fee for rights to make or sell another company’s products

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12
Q

Franchising

A

foreign firm buys the rights to use another’s name and operating methods in its home country

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13
Q

Joint Venture

A

operates in a foreign country through co-ownership with local partners

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14
Q

Global Strategic Alliance

A

each partner hopes to achieve through cooperation things they couldn’t do alone

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15
Q

Foreign Subsidiary

A

local operation completely owned by a foreign firm

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16
Q

Greenfield Venture

A

establishes a foreign subsidiary by building an entirely new operation in a foreign country

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17
Q

Global Corporation or Multinational Corporation

A

extensive international business dealings in many foreign countries

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18
Q

Transnational Corporation

A

an MNC that operates worldwide on a border less basis

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19
Q

Globalization Gap

A

where large global firms gain disproportionately from the global economy versus smaller firms

20
Q

Corruption

A

involves illegal practices to further one’s business interests

21
Q

Foreign Corrupt Practices Act

A

makes it illegal for US firms and their representatives to engage in corrupt practices overseas

22
Q

Sweatshops

A

employ workers at very low wages, for long hours, and in poor working conditions

23
Q

Child Labor

A

full-time employment of children for work otherwise done by adults

24
Q

Currency Risk

A

possible profit loss because of fluctuating exchange rates

25
Q

Political Risk

A

possible loss because of instability and political changes in foreign countries

26
Q

Politiccal-risk Analysis

A

forecasts how political events may have an impact on foreign investments

27
Q

Global Area Structure

A

arranges production and sales functions into separate geographical units and puts top managers in charge- such as Area Manager Africa

28
Q

Global Product Structure

A

gives worldwide responsibilities to product group managers who are assisted by area specialists who work as part of the corporate staff

29
Q

Global Manager

A

culturally aware and informed on international affairs

30
Q

What are Universal Facilitators of Leadership Success

A
  • Acting trustworth, just, honest
  • Showing foresight, planning
  • Being positive, dynamic, motivating
  • Inspiring confidence
  • being informed and communicative
  • being a coordinator and team builder
31
Q

Universal Inhibitors of Leadership Success?

A
  • being a loner
  • acting uncooperative
  • being irritable
  • acting autocratic
32
Q

In addition to gaining new markets, businesses often go international in the search for……

A

Lower Labor Costs

33
Q

When boot-maker Rock Brands bought 70% ownership of a manufacturing company in the Dominican Republic, Rocky was engaging in what form of international business?

A

Joint Venture

34
Q

When Limited Brands buys cotton in Egypt and has tops sewn from it in Sri Lanka according to designs made in Italy and then sells the tops at Victoria’s Secret stores in US this is a form of international business known as?

A

Global Sourcing

35
Q

When foreign investment creates new jobs in the US this is a form of …… that is welcomed by the local economy

A

insourcing

36
Q

When a Hong Kong firm makes an agreement with the Walt Disney Company to use the Disney logo and legally make jewelry in the shape of Disney cartoon characters, Disney is engaging in a form of international business known as

A

licensing

37
Q

One Major difference between international business and transnational corporation is that they transnational tries to operate….

A

without a strong national identity

38
Q

The Foreign Corrupt Practices Act makes it illegal for…

A

US businesses to make “payoffs” abroad to gain international business contracts

39
Q

The World trade Organization or WTO would most likely become involved in disputes between countries over…

A

tariffs and protectionism

40
Q

The athletic footwear maker New Balance discovered that exact copies of its running shoe designs were on sale in China under the name New Barlun. This is an example of ….. problem in international business

A

intellectual property rights

41
Q

When the profit of large international businesses are disproportionately high relative to those of smaller firms and even the economies of some countries this is called…

A

the globalization gap

42
Q

if a government seizes all foreign assets of global firms operating in the country, the loss of foreign firms is considered a ….risk of international business

A

political

43
Q

Who gains most when the dollar weakens versus a foreign currancy such as the Brazilian real?

A

American firms selling products in Brazil

44
Q

Which of the following is identified by researches as a universal inhibitor of leadership success across cultures

A

acting autocratic

45
Q

If an international business firm has separate vice presidents in charge of its Asian, African, and European divisions, it is most likely using a global ……. structure

A

area

46
Q

Which is the best definition of a truly “global manager?”

A

A manager who is competent working across cultures

Organizational Management (9 decks)

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