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INTB-4 > CHP 1 > Flashcards

CHP 1 Flashcards

1
Q

What is international Business

A

business activities carried out across national borders

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2
Q

What is a Foreign Business?

A

operations of a company outside the home

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3
Q

What is a Multi-domestic company

A

(MDC) organization with multi-country affiliates, each which formulates its own business strategy based on perceived market differences.

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4
Q

What is a Global Company

A

(GC) organization that attempts to standardize and integrate operations worldwide in all functional areas

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5
Q

What is an International Company

A

(IC) global or multinational company

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6
Q

What is a Transnational Company or Multinational Company (same things)

A

company that combines the characteristics of global and multinational firms; responsiveness to different global enviroments

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7
Q

What is GDP and how is it calculated?

A

Gross Domestic Product=

G (government spending)+I (investments) +C (consumption)+NX (Net Exports)=GDP

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8
Q

How is NX calculated?

A

Net Exports= Exports - Imports

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9
Q

What is GNP and how is it calculated?

A

Gross National Product= GDP+ production by national borders

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10
Q

What is different about international business and what 3 environments does it deal with?

A

operates across borders ;domestic, foreign, and international

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11
Q

What are some influences of External and Internal Environmental forces? (5)

A
  1. Domestic Environment
  2. Foreign Environment
  3. International Environment
  4. Decision Making is more complex
  5. Self-reference Criterion
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12
Q

What is Domestic Environment?

A

uncontrollable home country factors that surround and influence the firm

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13
Q

What is a Foreign Environment?

A

uncontrollable forces originate outside the home country and surround and influence the firm. Forces are interrelated

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14
Q

What is International Environments

A

interaction between domestic and foreign environmental forces

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15
Q

T/F International Trade and the international firm are not new aspects of business?

A

True

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16
Q

From what records indicate of International Business?

A

Phoenician and Greek merchants were selling abroad before time of Christ

17
Q

International firms are becoming…

A

objects of much discussion, especially the increasing globalization of their production and their markets

18
Q

What are the 2 most Important dates advancing globalization?

A

Nov 9, 1989: fall of Berlin Wall

December 25, 1991: fall if USSR-resulted to 15 countries

19
Q

What is a result of the expanding number of international companies?

A

the subsidiaries of foreign companies have become increasingly important in the industrial and economic life of many nations, developed and developing

20
Q

What is Foreign Direct Investment?

A

FDI refers to direct investments in equipment, structures, and organizations in a foreign country at a level that is sufficient to obtain significant management control

21
Q

Variable used to measure growth of international firms and businesses

A

Is the increase in total foreign direct investments

22
Q

Globalization has no widely accepted definition having many varieties and it continues to…?

A

broaden

23
Q

What is globalization

A

economical globalization- international integration of goods, technology, information, labor, and capital; or the process of making this integration happen

24
Q

What are the drivers of Globalization (5.)

A
  1. Political Drivers
  2. Technological Drivers
  3. Market Drivers
  4. Cost Drivers
  5. Competitive Drivers
25
Q

How are Political Drivers affecting globalization

A

trend toward unification and socialization of global community. redunction of barriers to trade and foreign investments and the privatization of industry are hastening the opening of new markets by international firms

26
Q

How are Technological Drivers affecting globalization

A

advances in computers and communications technology are permitting and increased flow of ideas and information across borders, enabling small firms to compete globally

27
Q

How are Market Drivers affecting globalization

A

as companies globalize, they also become global customers

28
Q

How are Cost Drivers affecting globalization

A

globalizing product lines help to achieve economies and scale, which reduce development, production, and inventory costs.Company can also locate where the factors of production are lower

29
Q

How are Competitive Drivers affecting globalization

A

companies are defending their home markets from foreign competitors by entering the competitors home markets to distract them

30
Q

What are some of the Arguments supporting globalization/Free Trade

A
  1. enhances socioeconomic development

2. promotes more and better jobs

31
Q

How does Free Trade enhance socioeconomic Development?

A

Data have shown a clear and definitive link between liberalization of trade and economic growth.

32
Q

What are some concerns with globalization?

A
  1. produces uneven results across nations and people
  2. Damaging effects on labor and labor standards
  3. decline in environmental and health conditions
33
Q

What are motives for entering foreign markets

A
  1. desire for increased profits and sales or

2. protect profits and sales from cometition

34
Q

7 dimesions for globalizing a business

A
  1. Products
  2. Markets
  3. Promotion
  4. Value-added
  5. Competitive strategy
  6. Use of non-home country personnel
  7. Extent of global owernship in firm

INTB-4 (7 decks)

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