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Ibm 301 > Chapter8 > Flashcards

Chapter8 Flashcards

0
Q

Fundamental changes that allow global markets

A

Reduction or elimination of trade barriers
Standardization of laws internationally
Decreasing concern of distance and time with regards to moving product
Globally integrated production processes

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1
Q

Globalization

A

The process by which goods and services capital and people flow across national borders

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2
Q

Four sets of criteria necessary to assess a country’s market

A

Economic analysis
Infrastructure and technological analysis
Government actions or inactions
Sociocultural analysis

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3
Q

Trade deficit

A

A country imports more goods than it exports (USA)

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4
Q

Trade surplus

A

A country that exports more than it imports (China )

Note companies rather manufacture here

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5
Q

GDP

A

Gross domestic is the market value of goods and services produced in a year

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6
Q

GNI

A

GDP + net income from investments abroad(minus payments made to nonresidents who contribute tot the domestic economy

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7
Q

PPP

A

theory that if exchange rates in tow countries are in equilibrium a product purchased in one country will be the same price in the other if expressed in the same currency

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8
Q

BRIC

A

(Brazil Russia India China )
Likely to see the most market growth because stagnated growth makes high purchasing power countries like us and uk less attractive

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9
Q

Rural areas

A

Increase product costs because more hands touch it

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10
Q

Evaluating real income

A

Firms Can make make adjustments to a product or change the price to meet the unique needs of a country

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11
Q

Infrastructure

A

Basic facilities and installments needed for a community or society to function

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12
Q

4 elements of infrastructure

A

Transportation
Distribution channels
Communications
Commerce

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13
Q

Economic analysis using metrics

A

General economic environment
Market size and population growth
Real income

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14
Q

Infrastructure and technology transportation channels
Communication
Commerce

A

transportation
channels
Communication
Commerce

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15
Q

Sociocultural analysis

A 
Power distance
Uncertainty avoidance
Individualism
Masculinity
Time orientation
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16
Q

Trade agreements

A

Signatory or the trading bloc to which it belongs

17
Q

Tariffs

A

Intended to make imported goods more expensive and less competitive

18
Q

Quotas

A

Maximum quantity that can enter a country

19
Q

Power distance

A

Willingness to accept social inequality as natural

20
Q

Individualism

A

Perceived obligation and dependence on groups

21
Q

Uncertainty avoidance

A

Extent to which society relies on orderliness structure consistency

22
Q

Masculinity

A

Men dominate power positions

23
Q

Time orientation

A

Short term vs long term

Example a country who values long term is will into wait for a product to be successful

24
Q

Brazil strengths

A 
7th largest economy
Predicted growth rate to 5h largest economy
Large population that is literate
Imposition of social programs 
Growing middle class
25
Q

Russia

A 
Ups and downs in economy 
Growing consumer market
Well educated population
Strong  demand for US goods
Strong internet presence
Aging population 
Corruption
26
Q

India

A 
Expanding middle class
Young population
Well educated 
Highly skilled workers
Lacks modern supply chain facilities
27
Q

China

A

Unequal distribution of wealth
Migrant workforce
Slowing population
Large economy 2nd

28
Q

global entry strategy

A

Export
Franchise
Strategic alliance
Joint venture

29
Q

Exporting

A

Producing in one country selling in another

30
Q

Cons of exporting

A

Limited return

Difficult to achieve economies of scale

31
Q

Pros of exporting

A

Least risky because no infrastructure buildings etc

32
Q

Franchising

A

Contract agreement between franchiser and franchisee

33
Q

Pros of franchising

A

Less risky than full owning

Less investment

34
Q

Con of franchise

A

Limited control

Limited profit

35
Q

Strategic alliance

A

Collaborative relationships between independent companies Cisco and TaTa

36
Q

Joint venture

A

Pool two firms resources together

37
Q

Direct investment

A

Firm maintains 100% ownership

High risk

38
Q

GloCalization

A

Forms standardize products globally but use different promotional campaigns to sell them

39
Q

Reverse innovation

A

Companies develop niche products for underdeveloped markets and expand them in their original home markets

Ibm 301 (5 decks)

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