CH5-International Business And Trade: An Overview Flashcards
It involves more than one country or relates to or affecting two or more nations.
International
It is generally defined as an endeavor to make a profit.
Business
A person’s usual or principal work as a means of earning a living.
Occupation
It involves specialized educational training and a formal qualification and license.
Profession
Basic economic concept involving the buying, selling or exchange of goods and services.
Trade
What are the four types of business?
Service, trading, manufacturing and hybrid.
Any activity/endeavor among nations around the globe involving the buying, selling and exchanging of goods, services, capital, labor, resources, technology.
International business and trade
It pertains to profit (economy), people (society), and the planet (environment).
Triple Bottom Line (TBL)
Assets investment directly into a foreign country’s buildings, equipment or organizations.
Foreign Direct Investment
Selling products to foreign markets
Exporting
Buying foreign products
Importing
Exports+imports= ?
Total trade
Contractual arrangements between countries concerning their trade relationships.
Trade agreements/treaties
A contractual arrangements where the licensor sells the right to use intellectual property or manufacture a product to the license for royalty.
Licensing
A certain percent of the sales of the product or intellectual property.
Royalty
A contractual arrangement in which the franchisor permits the franchise to use the business model or brand name for a fee, to conduct business as an independent branch of the franchisor.
Franchising
A company whose common stock is 100% owned by the parent company.
Wholly owned subsidiary
Refers to the buying global financial instruments or foreign direct investment by putting up a business in a certain country.
International investing
Residents of one country goes to another country to work.
Labor migration
The process of conveying results stemming from scientific and technological research to the market place and to wider society, along with associated skills and procedures.
Technology Transfer
What are the basic principles of international trade that seem to underpin greater prosperity among nations?
a. Investments particularly foreign direct investments
b. The spread of technology
c. strong institutions
d. sound macroeconomic policies
e. an educated workforce; and
f. existence of a market economy
The increasing connectedness, integration, and interdependece of world cultures, economies, politics, and environment.
Globalization
The first bilateral free trade agreement of the Philippines signed in Helsinki, Finland by then President Gloria Macapagal-Arroyo and former Prime Minister Junichiro Koizumi on Sept. 9, 2006.
Philippines-Japan Economic Partnership Agreement (PJEPA)
UNder ASEAN, what countries does Philippine prefer in trade agreements?
China, Hongkong, India, Japan, South Korea, Australia and New Zealand.
What countries are included in the Philippines and the European Free Trade Association (EFTA), Effective in 2018?
Iceland, Liechtenstein, Norway and Switzerland.
An amalgamation or a two-level system linguistic hybrid og globalisation and localization.
Glocalization
Who popularized glocalization?
Roland Robertson
What are the three levels of glocalization?
1.Subnational (local)
2. Supranational (global)
3. Transnational (international)
What are the two typical reactions and results of interplay of global and local forces?
Opportunistic reaction and rebellious reaction
It refers to the marketing strategies and business methodologies of companies in a foreign market. It is creation of products or services for the global market by adapting them to local cultures and environment.
Glocalization
McDonald Mascot in France
Asterix
McDonald beef burger in India
Mcalootikki burgers
Mcdo in Italy
McItaly burger
Mcdo in India
Maharaja Mac
Mcdo in Canada
McLobster
Mcdo in Japan
Ebi filet-O, Teriyaki Burger w/ seaweed shaker fries, Croquette burger and Bacon potato pie
KFC in India
Spicier chicken, Krushers in the cold beverages, Chana Snacker (for vegetarians in India)
KFC in Thailand
Thali
The creation of hybrids where mixed cultures take advantage of the opportunities provided by international business and trade.
Opportunistic reaction
A reaction in which fosters a resistance identity defending local history traditions and authentic cultures.
Rebellious reaction
Factors that can maximize global opportunities
- Leadership
- Information and Communications Technology
- Education
- Global Mindset
