IBT Flashcards
“Think locally, offer value, and be patient. That last one is key: you can make an elephant dance, but it takes time to learn the right tune.”
Om Malik on marketing to
India, Business 2.0
a modified version of
environmental scanning in which the firm identifies
desirable markets by eliminating the less desirable
ones.
Market Screening
a procedure in which the
firm scans the world for changes in the
environmental forces that might affect it.
Environmental Scanning
a screening that uses countries
as the basis for market selection.
Country Screening
a screening that uses market segments, a within- country analysis of groups of consumers, as the basis for market selection.
Segment Scanning
economic data used to measure relative market strength of
countries or geographic areas.
Market Indicators
economic data that correlate highly with market demand for a
product.
Market factors
statistical technique used to estimate future values by
successive observations of a variable at regular time intervals that suggest
patterns.
Trend Analysis
statistical technique that divides objects into groups based on similarity.
Cluster Analysis
The Culture Wheel
Values
Greater Community
Knowledge and Stories
Language
Traditions and Rituals
Techniques and Skills
Tools and Objects
The Arts
Food and Drinks
SEGMENT SCREENING
- Definable
- Large
- Accessible
- Actionable
- Capturable
a market visit by business people
and/or government officials (state or federal) in
search of business opportunities.
Trade Mission-
a large exhibition at which companies
promote the sale of their products.
Trade fair
the respondent’s desire to
please that leads to answers designed to please the interviewer rather than reflect the respondent’s true beliefs or feelings.
Social Desirability Bias
an export of technology,
management expertise, and possibly capital
equipment where a contractor agrees to design
and erect a plant, supply the process technology,
provide the production inputs, train the operating
personnel, and, after a trial run, turn the facility
over to the purchaser.
Turnkey project
a contractual arrangement in which
one firm grants access to its patents, trade
secrets, or technology to another for a fee.
Licensing
a form of licensing in which one firm
contracts with another to operate a business
under an established name according to specific
rules.
Franchising
an arrangement by which
one firm provides management to another firm.
Management contract
an arrangement in
which one firm contracts with another to produce
products to its specifications.
Contracted manufacturing
a cooperative effort among two or more organizations that share a common interest in a business undertaking.
Joint venture
collaboration with competitors,
customers, and/or suppliers that may take non
equity or equity form.
Strategic alliance
A set of ideas and attitudes that
combines an openness to and
awareness of diversity across markets
and cultures with a propensity and
ability to synthesize across this diversity.
GLOBAL MIND- SET
The behaviors and process required for
organizing a group of people in order to
achieve a common purpose or goal.
LEADERSHIP
A team characterized by a high level of
diversity, geographic dispersion, and
virtual rather than face- to- face
interaction.
GLOBAL TEAM
CHALLENGES THAT CONFRONT GLOBAL LEADERS
❏ Multiplicity
❏ Interdependence
❏ Ambiguity
❏ Dynamism
COMPETENCIES REQUIRED FOR EFFECTIVE GLOBAL LEADERSHIP
❏ See differences
❏ Make connections
❏ Adjust
❏ Integrate and lead
change
❏ Localize
Legitimate, shared standards against
which the appropriateness of behavior
can be evaluated.
TEAM NORMS
tendency of some people to put less effort when they
are members of a group.
SOCIAL LOAFING-
Market Screening Approaches
- Basic Needs Potential
- Financial and Economic Forces
- Political and Legal Forces
- Cultural Forces
- Competitive Forces
- Final Selection of New Markets
