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Spring '25 > Global Business Exam 1 > Flashcards

Global Business Exam 1 Flashcards

1
Q

International Business

A

A business that engages in international economic activities

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2
Q

Multinational Enterprise (MNE)

A

A firm that engages in foreign direct investment (FDI)

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3
Q

Foreign Direct Investment (FDI)

A

Investment in, controlling, and managing value-added activities in other countries

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4
Q

Global Business

A

Business around the world

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5
Q

Triple Bottom Line

A

Economic, social, and environmental performance

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6
Q

Liability of Foreigness

A

The inherent disadvantage that foreign firms experience in host countries because of their nonnative status

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7
Q

Globalization

A

The close integration of countries and people of the world

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8
Q

Emerging Countries

A

Developing countries

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9
Q

Emerging Market

A

Emerging economy

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10
Q

Base of Pyramid (BoP)

A

Economies where people make less than $2,000 per capita per year

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11
Q

BRICS

A

Brazil, Russia, India, China, and South Africa

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12
Q

Reverse Innovation

A

Innovation that is adopted first in emerging economies and is then diffused around the world

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13
Q

Risk Management

A

Identification and assessment of risks and the preparation to minimized the impact of high-risk, unfortunate events

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14
Q

Black Swan Event

A

Unpredictable event that is beyond what is normally expected and has severe consequences

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15
Q

Semiglobalization

A

The incomplete integration of markets across borders

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16
Q

Deglobalization

A

Weakening economic interdependence among countries

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17
Q

Global Value Chain (GVC)

A

The series of activities that take place to create and sell a product or service across multiple countries

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18
Q

GDP

A

The total value of all goods and services produced within a country over a specific period of time

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19
Q

GMP

A

A set of quality assurance procedures that ensure the consistent production of safe and effective products

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20
Q

Purchasing Power

A

The financial ability to buy products and services

21
Q

G-20

A

19 major countries plus European Union whose leaders meet on a biannual basis to solve global economic problems

22
Q

G20 Characteristics

A

Diverse Membership, Global Economic Influence, Focus on Financial Stability, Consensus-Based Decision Making, Broad Agenda

23
Q

BRICS Characteristics

A

Emerging Economic Powerhouse, Alternative to Western Influence, New Development Bank (NDB), Focus on De-dollarization, Geopolitical Cooperation

24
Q

Emerging Countries Characteristics

A

Rapid Economic Growth, Expanding Middle Class, Political and Economic Instability, Strong Role in Global Trade, Investment Opportunities

25
Q

Civil Law

A

The system of law concerned with private relations between members of a community rather than criminal, military, or religious affairs

26
Q

Theocratic Law

A

A legal system based on religious teachings

27
Q

Common Law

A

Legal tradition that is shaped by precedents and traditions from previous judicial decisions

28
Q

Property Rights

A

Legal right to use an economic property and to derive income and benefits from it

29
Q

State-Owned Enterprise (SOE)

A

A firm owned and controlled by the state (government)

30
Q

Low-context Cultures

A

Communication is usually taken at face value without much reliance on unspoken content

31
Q

Low-context Cultures Countries

A

German, Swiss, Scandinavian,

32
Q

High-Context Cultures

A

Communication relies a lot on the underlying unspoken context

33
Q

High-context Cultures Countries

A

Chinese, Korean, Japanese

34
Q

Low-Context Cultures that are closer to Middle

A

Spanish, Britain, America, Canda

35
Q

Maculinity

A

A cultural dimension that refers to a society’s preference for assertiveness, achievement, and material success

36
Q

Femininity

A

A style of leadership that values nurturing, intuition, and connection, and that honors the cycles of energy

37
Q

Tangible

A

Car, phone, building, clothes, food

38
Q

Intangible

A

Copyright, patents, trademarks

39
Q

Primary Driver of Risk

40
Q

Decision Making

A

The strategic process of adapting to political, economic, and cultural factors in international markets

41
Q

Political Structure

A

Democracy, Authoritarianism, Totalitarianism

42
Q

Democracy

A

Free markets, open trade policies

43
Q

Authoritarianism

A

Government has significant control over business and the economy

44
Q

Totalitarianism

A

Extreme form of authoritarianism where government controls nearly all aspects of life

45
Q

Adam Smith

A

Capitalism, Free Market Economy

46
Q

Karl Marx

A

Communism/Socialism, Command Economy

47
Q

John Keynes

A

Mixed Economy

Spring '25 (3 decks)

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