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International Management > Exam 1 > Flashcards

Exam 1 Flashcards

0
Q

Negatives of globalization

A

Unequal benefit, Enewetak participation, terrorism, wars, economic segregation, widens gap between rich and poor

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1
Q

Benefits of globalization

A

Lower prices because they’re more efficient, more jobs and access to technology

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2
Q

7 forces driving globalization

A

Rise in global standards, new competition, disintegrating borders, corporate social responsibility, global products/customers, internet/technology

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3
Q

Divisions of worlds economy

A

Developed, developing, transition, emerging

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4
Q

Developing economies

A

Have seen substantial economic growth in last 20 years

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5
Q

Transition economies

A

Changed from mostly communist to capitalism

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6
Q

Emerging economies

A

Rapidly growing, between developing and developed

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7
Q

WTO

A

World trade organization-has reduced tarried and provides structure for continued negotiations and settling disputes among nations

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8
Q

Regional trade agreements

A

Agreements among nations to reduce tariffs and develop similar technical and economic standards

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9
Q

FDI

A

Foreign direct investment- occurs when a multinational company from 1 country has an ownership position located in another country

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10
Q

Types of risks

A

Economic, political, war/terrorism

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11
Q

ISO

A

International organization for standardization

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12
Q

Social/ethical issues that come from globalization

A

Climate change, bribery, sweatshops, pollution

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13
Q

What determines culture

A

Religion, language, education, social structure, political and economic philosophy

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14
Q

Culture is made up of ____&____

A

Front and back stage

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15
Q

Front stage of culture

A

Easily observable aspects

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16
Q

Back stage of culture

A

Only insiders/members understand that aspect of culture

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17
Q

3 levels of culture

A

National, business and organizational/occupational

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18
Q

3 diagnostic models of culture

A

Hofstede, GLOBE, 7d

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19
Q

GLOBE

A

Global leadership and organizational behavior effectiveness project

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20
Q

Ethnocentrism

A

When people from one culture believe their norms, values and beliefs are best

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21
Q

Cultural intelligence

A

Ability to interact effectively in multiple cultures

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22
Q

Cultural relativism

A

Be life that all cultures are correct and moral for the people of those cultures

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23
Q

Industrial context

A

Economic system, education, religion, social inequality…that can produce important business related country differences

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24
Q

National context

A

Made up of the respective national cultures and social institutions of any society

25
Q

Types of economic systems

A

Capitalist, socialist, mixed economy

26
Q

Capitalist system

A

Production is decentralized to private owners

27
Q

Socialists/command economy

A

Production resources are owner by the state

28
Q

Mixed economy

A

Combines aspect of both (Sweden, France)

29
Q

Index of economic freedom

A

Determined the extent if governmental intervention in a country, includes 10 indicators ranging from taxation to property rights

30
Q

3 stages of industrialization preindustrial

A

Preindustrial society, industrial society, post industrial society

31
Q

Islam

A

Based on submission to the will of Allah (god), based on 5 pillars, society is divided by gender

32
Q

5 pillars of Islam

A

Pure unity of being, continuous prayer, sharing, ramadan fasts, return to Mecca

33
Q

Hinduism

A

Oldest religion, live life according to Dharma, believe in karma and reincarnation

34
Q

Buddhism

A

Focuses on suffering, emphasizes on teamwork, encourages working hard

35
Q

Primary stakeholders

A

Directly linked to a company’s survival and include customers, suppliers, employees and shareholders

36
Q

Secondary stakeholders

A

Less directly linked, includes media, trade association, and special interest groups

37
Q

Moral languages

A

Ways people use to make ethical decisions and explain their choices: virtue, self control, avoiding harm, social contract, rights and duties, maximizing human welfare

38
Q

Ethical convergence

A

Growing pressure to have same rules and social responsibility due to increased contact among people from different ethical cultural systems

39
Q

Prescriptive ethics

A

Suggested guidelines for ethical behavior of MNC guided by avoiding harm, rights and duties and social contract

40
Q

Ethical relativism

A

Each society’s view of ethics must be considered legitimate and ethical, can lead to convenient relativism

41
Q

Convenient relativism

A

WhereMNCs only behave a certain way to please cultural differences

42
Q

Ethical universalism

A

Basic moral principles that transcend cultural and national boundaries

43
Q

Forms of analysis

A

Economic, legal, ethical

44
Q

Economic analysis

A

Focuses on what is the best decision for profits

45
Q

Legal analysis

A

Focuses on only meeting legal requirements of host countries

46
Q

Ethical analysis

A

Focused on what is right

47
Q

Capabilities

A

Ability to assemble and coordinate resources effectively for long term success

48
Q

Distinctive competences

A

Strengths that allow companies to outperform rivals (quality, innovation)

49
Q

Offensive strategies

A

To attack competition; direct, end run, preemptive, acquisitions

50
Q

Direct attacks

A

Price cutting, adding new features

51
Q

End run offensives

A

Avoid direct competition by seeking unoccupied, ignored or under served markets

52
Q

Preemptive competitive strategies

A

Being first to obtain a particular position

53
Q

Acquisitions

A

Buying out a competitor

54
Q

Defensive strategies

A

To avoid being attacked: convincing firms to seek other targets, blunting the impact, proactively defending yourself

55
Q

Counter parry strategy

A

Fending off competitors attack in one country by attacking in another (Fuji film/Kodak)

56
Q

Unrelated diversification

A

Firm acquired business in any industry

57
Q

4 strategy formulation analysis techniques

A

Porters 5 forces model, industry and country driving forces, KSF, competitor analysis

58
Q

Porter 5 forces model

A

Barriers to entry, power of buyers, power of substitutes, rivalry among competitors, power of suppliers and complementers

59
Q

KSF

A

Key success factors

60
Q

Competitor analysis

A

4 steps: 1) identify strategic intent of group 2) identify current generic strategies 3) identify offensive/defensive strategies 4) assess current position of competition

International Management (3 decks)

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