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GMS200 > GMS Chapter 3 > Flashcards

GMS Chapter 3 Flashcards

2
Q

Global Management

A

Involves managing operations in more than one country

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3
Q

Global manager

A

Is culturaly aware and informed on international affairs

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4
Q

Global Business

A

Conduct comercial transactions across national boundaries

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5
Q

Going Global: 5 Market entry strategies

A

Global outsoursing, Exporting, Importing, Licinsing, Franchising

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6
Q

Going Global: 2 Direct investment strategies

A

Joint Ventures, Foreign subsidaries

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7
Q

Global Sourcing

A

Material or services are purchassed around the world for local use

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8
Q

Exporting

A

Local products are sold abroad to foreign customers

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9
Q

Importing

A

Involves the selling in domestic markets of products acquired abroad

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10
Q

Licensing

A

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

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11
Q

Insourcing

A

Job creation through foreign direct investment

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12
Q

Joint Venture

A

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

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13
Q

Global strategic alliance

A

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

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14
Q

Foreign Subsidiary

A

A local operation completly owned by a foreign firm

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15
Q

Greenfield investment

A

Builds an entierly new operation in a foreign country

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16
Q

Political Risk

A

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

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17
Q

World Trade Organization

A

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

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18
Q

Tariffs

A

Taxes government levy on imports from abroad

19
Q

Protectionism

A

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

20
Q

NAFTA

A

North American Free trade Agreement

21
Q

Global Corporation / MNC

A

Multinational Corporation with extensive operations in more that one foreign country

22
Q

Transnational Corporation

A

MNC that operates worldwide on a borderless baisis

23
Q

Corruption

A

Involves illegal practices to further one’s business interest

24
Q

Child Labour

A

Full time employment of childrun for work otherwise done by adults

25
Q

Sweatshops

A

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

26
Q

Culture Shock

A

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

27
Q

Ethnocentrism

A

The tendency to consider one’s culture supperior to others

28
Q

Cultural Inteligence

A

The ability to accept and adapt to new cultures

29
Q

Low Context Cultures

A

Emphasize comunication via spoken and written words

30
Q

High Context Cultures

A

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

31
Q

Monochronic Cultures

A

People tend to do one thing at the time

32
Q

Polychronic Cultures

A

Time is used to accomplish many different things at once

33
Q

Proxemics

A

How people use space to comunicate

34
Q

Ecological Fallacy**

A

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

35
Q

Hofstede 5 dimentions of culture

A

Power distance, Uncertainty avoidance, Individualism / collectivism, masculinity/ Femininity, Short/Long term orientation

36
Q

Cooperative Management

A

Studies how Management practices differ among countries and cultures

37
Q

Polycentric attitude

A

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

38
Q

Geocentric Attitude

A

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

39
Q

5 Criteria of Useful information

A

Timely, High Quality, Complete, Relevant, Understandable

40
Q

Globalization

A

The PROCESS of growing interdependence among elements of the global economy

41
Q

Franchising

A

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

42
Q

Foreign Direct Investment

A

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

43
Q

Sustainable Development

A

Meets the needs of present without hurting future generations

GMS200 (4 decks)

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