Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

GMS 200 > GMS Chap 3 > Flashcards

GMS Chap 3 Flashcards

1
Q

Global Management

A

Involves managing operations in more than one country

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Global manager

A

Is culturaly aware and informed on international affairs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Global Business

A

Conduct comercial transactions across national boundaries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Going Global: 5 Market entry strategies

A
  • Global outsoursing
  • Exporting
  • Importing
  • Licinsing
  • Franchising
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Going Global: 2 Direct investment strategies

A
  • Joint Ventures

- Foreign subsidaries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Global Sourcing

A

Material or services are purchassed around the world for local use

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Exporting

A

Local products are sold abroad to foreign customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Importing

A

Involves the selling in domestic markets of products acquired abroad

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Licensing

A

A local firm pays a fee to a foreign firm for rights to make or sell its products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Insourcing

A

Job creation through foreign direct investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Joint Venture

A

Operates in foreign country through co-ownership by foreign and local partners

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Global strategic alliance

A

Partnership in which foreign and domestic firms share resources and knowledge for mutual gain

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Foreign Subsidiary

A

A local operation completly owned by a foreign firm

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Greenfield investment

A

Builds an entierly new operation in a foreign country

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Political Risk

A

The potential loss in value of forein investment due to instability and political changes in the host country

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

World Trade Organization

A

Member nations agree to negociate and resolve disputes about tariffs and trade restrictions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Tariffs

A

Taxes government levy on imports from abroad

18
Q

Protectionism

A

A call for tariff and favourable treatment to protect firms from foreign competition

19
Q

NAFTA

A

North American Free trade Agreement

20
Q

Global Corporation / MNC

A

Multinational Corporation with extensive operations in more that one foreign country

21
Q

Transnational Corporation

A

MNC that operates worldwide on a borderless baisis

22
Q

Corruption

A

Involves illegal practices to further one’s business interest

23
Q

Child Labour

A

Full time employment of childrun for work otherwise done by adults

24
Q

Sweatshops

A

employ workers at very low wages for long hours in pour working conditions

25
Q

Culture Shock

A

The confusion and discomfort z person experiences when in an unfamilliar environment

26
Q

Ethnocentrism

A

The tendency to consider one’s culture supperior to others

27
Q

Cultural Inteligence

A

The ability to accept and adapt to new cultures

28
Q

Low Context Cultures

A

Emphasize comunication via spoken and written words

29
Q

High Context Cultures

A

Rely on non verbal and situational cues as well as on spoken or written words in communication

30
Q

Monochronic Cultures

A

People tend to do one thing at the time

31
Q

Polychronic Cultures

A

Time is used to accomplish many different things at once

32
Q

Proxemics

A

How people use space to comunicate

33
Q

Ecological Fallacy**

A

Assumes that a generalized cultural value applies equaly well to all members of the culture

34
Q

Hofstede 5 dimentions of culture

A
  • Power distance
  • Uncertainty avoidance
  • Individualism / collectivism
  • masculinity/ Femininity
  • Short/Long term orientation
35
Q

Cooperative Management

A

Studies how Management practices differ among countries and cultures

36
Q

Polycentric attitude

A

Respect local knowledge and allows foreign operations to run with substential freedom

37
Q

Geocentric Attitude

A

High in cultural inteligence and take a collaborative approach to global management prectices

38
Q

5 Criteria of Useful information

A
  • Timely - High Quality - Complete - Relevant- Understandable
39
Q

Globalization

A

The PROCESS of growing interdependence among elements of the global economy

40
Q

Franchising

A

A fee is paid to a foreign business for rights to locally operate using its name, branding and methodes

41
Q

Foreign Direct Investment

A

Building, buying all or buying part ownership of a business in another country

42
Q

Sustainable Development

A

Meets the needs of present without hurting future generations

GMS 200 (9 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions