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Mgmt of Int Business > Chapter 4 > Flashcards

Chapter 4 Flashcards

1
Q

institution-based view

A

A leading perspective of strategy that argues that in addition to industry-based and resource-based views, firms also need to take into account wider influences from sources such as the state and society when crafting strategy

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2
Q

institution

A

Humanly devised constraints that structure human interaction— informally known as the “rules of the game”

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3
Q

institutional framework

A

A framework of formal and informal institutions governing individual and firm behavior

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4
Q

formal institution

A

Institutions represented by laws, regulations, and rules

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5
Q

regulatory pillar

A

How formal rules, laws, and regulations influence the behavior of individuals and firms

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6
Q

informal institution

A

An institution represented by norms, cultures, and ethics

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7
Q

normative pillar

A

How the values, beliefs, and norms of other relevant players influence the behavior of individuals and firms

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8
Q

norms

A

The prevailing practice of relevant players that affect the focal individuals and firms

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9
Q

cognitive pillar

A

The internalized, taken-for-granted values and beliefs that guide individual and firm behavior

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10
Q

transaction cost

A

The cost associated with the economic transaction—or more broadly, the cost of doing business

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11
Q

opportunism

A

Self-interest seeking with guile

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12
Q

relational contracting

A

Contracting based on informal relationships

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13
Q

informal, relationship-based, personalized exchange

A

A way of economic exchange based on informal relationships among transaction parties

  • Also known as relational contracting
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14
Q

arm’s-length transaction

A

Transaction in which parties keep a distance, develop little social relationship and rely on contracts

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15
Q

formal, rule-based, impersonal exchange

A

A way of economic exchange based on formal transactions in which parties keep a distance

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16
Q

institutional transition

A

Fundamental and comprehensive changes introduced to the formal and informal rules of the game that affect organizations as players

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17
Q

firm strategy, structure, and rivalry

A

How industry structure and firm strategy interact to affect interfirm rivalry

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18
Q

factor endowment

A

The endowment of production factors such as land, water, and people in one country

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19
Q

related and supporting industries

A

Industries that are related to and/or support the focal industry

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20
Q

domestic demand

A

Demand for products and services within a domestic economy

21
Q

intellectual property right (IPR)

A

Right associated with the ownership of intellectual property

22
Q

bounded rationality

A

The necessity of making rational decisions in the absence of complete information

23
Q

nonmarket (political) strategy

A

A strategy that centers on leveraging political and social relationships

24
Q

institutional work

A

Purposive action aimed at creating, maintaining, and disrupting institutions

25
Q

institutional logic

A

A socially constructed set of practices, assumptions, and values that shape behavior

26
Q

institutional pluralism

A

The existence of multiple institutional logics

27
Q

state-owned enterprise (SOE)

A

A firm owned and controlled by the state (government)

28
Q

hybrid organization

A

An organization that incorporates elements from different institutional logic

29
Q

culture

A

The collective programming of the mind that distinguishes the members of one group or category of people from another

30
Q

power distance

A

The degree of social inequality

31
Q

individualism

A

The perspective that the identity of an individual is most fundamentally based on his or her own individual attributes

32
Q

collectivism

A

The perspective that the identity of an individual is most fundamentally based on the identity of his or her collective group (such as family, village, or company)

33
Q

masculinity

A

A relatively strong form of societal-level sex role differentiation whereby men tend to have occupations that reward assertiveness and women tend to work in caring professions

34
Q

femininity

A

A relatively weak form of societal-level sex role differentiation whereby more women occupy positions that reward assertiveness and more men work in caring professions

35
Q

uncertainty avoidance

A

The extent to which members in different cultures accept ambiguous situations and tolerate uncertainty

36
Q

long-term orientation

A

A perspective that emphasizes perseverance and savings for future betterment

37
Q

ethics

A

The norms, principles, and standards of conduct governing individual and firm behavior

38
Q

code of conduct (code of ethics)

A

Written policies and standards for corporate conduct and ethics

39
Q

ethical relativism

A

The relative thinking that ethical standards vary significantly around the world and that there are no universally agreed-upon ethical and unethical behaviors

40
Q

ethical imperialism

A

The imperialistic thinking that one’s own ethical standards should be applied universally around the world

41
Q

corruption

A

The abuse of public power for private benefit usually in the form of bribery

42
Q

Foreign Corrupt Practices Act (FCPA)

A

A US law enacted in 1977 that bans bribery of foreign officials

43
Q

extraterritoriality

A

The reach of one country’s laws to other countries

44
Q

in-group

A

Individuals and firms are regarded as part of “us”

45
Q

out-group

A

Individuals and firms are not regarded as part of “us”

46
Q

cultural distance

A

The difference between two cultures along some identifiable dimensions

47
Q

institutional distance

A

The extent of similarity or dissimilarity between the regulatory, normative, and cognitive institutions of two countries

48
Q

The name of Chapter 4

A

Emphasizing Institutions, Cultures, and Ethics

Mgmt of Int Business (14 decks)

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