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International Management > MIDTERM > Flashcards

MIDTERM Flashcards

0
Q

Quality imperative

A

involves strategic formulation and implementation utilizing strategies of total quality management to meet or exceed customers’ expectations and continuously improve products and/or services

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1
Q

Political imperative

A

involves strategic formulation and implementation utilizing strategies that are country responsive and designed to protect local market niches

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2
Q

Administrative imperative

A

involves strategic formulation and implementation in which the MNC makes strategic decision based on the merits of the individual situation rather than using a predetermined economically or politically driven strategy

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3
Q

Global integration

A

refers to the production and distribution of products and services of a homogeneous type and quality on a worldwide basis

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4
Q

National responsiveness

A

refers to the need to understand the different consumer tastes in segmented regional markets and respond to different national standards and regulations imposed by autonomous governments and agencies.

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5
Q

Global strategy

A

refers to integrated strategy based primarily on price competition

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6
Q

Multidomestic strategy

A

refers to differentiated strategy emphasizing local adaptation

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7
Q

International strategy

A

refers to mixed strategy combining low demand for integration and responsiveness.

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8
Q

Transnational strategy

A

refers to integrated strategy emphasizing both global integration and local responsiveness.

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9
Q

SWOT analysis

A

Strengths, Weaknesses, Opportunities, Threats.

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10
Q

Environmental scanning

A

is the process of providing management with accurate forecasts of trends related to external changes in geographic areas where the firm currently is doing business and/or is considering setting up operations

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11
Q

Strategy implementation

A

refers to the process of providing goods and services in accord with a plan of action.

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12
Q

International entrepreneurship

A

is a combination of innovative, proactive, and risk-seeking behavior that crosses national borders and is intended to create value in organizations.

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13
Q

Born global firms

A

are firms that engage in significant international activity a short time after being established.

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14
Q

Export/import

A

Exporting and importing often are the only available choices for small firms wanting to go international.

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15
Q

Wholly owned subsidiary

A

is an overseas operation that is totally owned and controlled by an MNC.

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16
Q

Mergers and acquisitions

A

The cross-border purchase or exchange of equity involving two or more companies is achieved through

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17
Q

Alliance

A

is any type of cooperative relationship among different firms

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18
Q

Joint venture (JV)

A

is an agreement under which two or more partners own and control a business.

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19
Q

Licensing agreement

A

allows one party to use an industrial property right in exchange for payment to the other party.

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20
Q

Franchise

A

is a business arrangement under which one party (the franchisor) allows another party (the franchisee) to operate an enterprise using its trademark, logo, product line, and method of operation in return for a fee.

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21
Q

Global product division

A

is a structural arrangement in which domestic divisions are given worldwide responsibility for product groups.

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22
Q

Global area division

A

is a structure under which global operations are organized on a geographic rather than a product basis.

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23
Q

Global functional division

A

is a structure that organizes worldwide operations primarily based on function and secondarily on product.

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24
Q

Mixed organization structure

A

is a combination of a global product, area, or functional arrangement.

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25
Q

Transnational network structure

A

is a multinational structural arrangement that combines elements of function, product, and geographic designs, while relying on a network arrangement to link worldwide subsidiaries.

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26
Q

Formalization

A

is the use of defined structures and systems in decision-making, communicating and controlling. Some countries make greater use of formalization than others.

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27
Q

Specialization

A

is an organizational characteristic that assigns individuals to specific, well-defined tasks.

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28
Q

Centralization

A

is a management system under which important decisions are made at the top.

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29
Q

Decentralization

A

decision-making is pushed down the line and lower-level personnel are involved.

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30
Q

Political risk

A

The unanticipated likelihood that a business’ foreign investment will be constrained by a host government’s policy is known as

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31
Q

Macro political risk

A

An analysis that reviews major political decisions likely to affect all enterprises in the country is called a

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32
Q

Micro political risk

A

An analysis directed toward government policies and actions that influence selected sectors of the economy or specific foreign businesses in the country is referred to as a

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33
Q

Terrorism

A

is the use of force or violence against others to promote political or social views

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34
Q

Expropriation

A

refers to the seizure of businesses by a host country with little, if any, compensation to the owners.

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35
Q

Indigenization laws

A

are laws that require that nations hold a majority interest in the operation.

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36
Q

Integrative techniques

A

are techniques that help the overseas operation become a part of the host country’s infrastructure.

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37
Q

Protective and defensive techniques

A

are techniques that discourage the host government from interfering in operations.

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38
Q

Proactive political strategies

A

include formal lobbying, campaign financing, seeking advocacy through embassies and consulates of the home country, and more formal public relations and public affairs activities such as grassroots campaigning and advertising.

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39
Q

Decision-making

A

process involves choosing a course of action among alternatives. How decision making is carried out in an organization is influenced by a number of factors.

40
Q

Centralized decision-making

A

is in place, most important decisions are made at the top

41
Q

Decentralized decision-making

A

is in place, decisions are delegated to operating personnel.

42
Q

Total Quality Management (TQM)

A

is an organizational strategy and the accompanying techniques that result in the delivery of high-quality products and/or services to customers

43
Q

Empowerment

A

which is the process of giving individuals and teams the resources, information, and authority they need to develop ideas and effectively implement them.

44
Q

Kaizen [Japan]

A

which is a Japanese term that means “continuous improvement.” Table 11-2 provides some examples of new theories on quality

45
Q

controlling

A

is the process of evaluating results in relation to plans or objectives and deciding what action, if any, to take

46
Q

Direct controls

A

refer to the use of face-to-face or personal meetings for the purpose of monitoring operations.

47
Q

Indirect controls

A

refer to the use of reports and other written forms of communication to control operations.

48
Q

Profit

A

refers to the amount remaining after all expenses are deducted from total revenues.

49
Q

Return on investment (ROI)

A

refers to return measured by dividing profit by assets

50
Q

Quality control circle (QCC)

A

refers to a group of workers who meet on a regular basis to discuss ways of improving the quality of work.

51
Q

Motivation

A

is a psychological process through which unsatisfied wants or needs lead to drives that are aimed at goals or incentives.

52
Q

Intrinsic (determinants of motivation)

A

an individual experiences fulfillment through carrying out an activity itself and helping others,

53
Q

Extrinsic (determinants of motivation)

A

the external environment and result of the activity in the form of competition and compensation or incentive plans, which are of great importance.

54
Q

Content theories of motivation (what they have in common)

A

explain work motivation in terms of what arouses, energized, or initiates employee behavior.

55
Q

Process theories of motivation (what they have in common)

A

explain work motivation by how employee behavior is initiated, redirected, and halted.

56
Q

Psychological needs

A

include food, clothing, shelter, and other basic, physical needs

57
Q

Safety needs

A

include the desire for security, stability, and the absence of pain.

58
Q

Social needs

A

include the need to interact and affiliate with others and the need to feel wanted by others.

59
Q

Esteem needs

A

are the needs for power and status

60
Q

Self-Actualization needs

A

include the desire to reach one’s full potential by becoming everything one is capable of becoming. (The recent U.S. Army ad: “Be all that you can be.”

61
Q

Motivators

A

refer to the job content factors which include achievement, recognition, responsibility, advancement, and the work itself.

62
Q

Hygiene factors

A

refer to job context variables that include salary, interpersonal relations, technical supervision, working conditions, and company policies and administration.

63
Q

Achievement motivation theory

A

holds that individuals can have a need to get ahead to attain success and to reach objectives. The theory is associated with the work of David McCelland.

64
Q

Equity theory

A

focuses on how motivation is affected by people’s perception of how fairly they are being treated. If people feel they’re not being treated fairly, they’ll take actions to restore equity.

65
Q

Goal setting theory

A

focuses on how individual go about setting goals and responding to them and the overall impact of this process on motivation.

66
Q

Expectancy theory

A

postulates that motivation is influenced by a person’s belief that effort will lead to performance, performance will lead to specific outcomes, and that these outcomes are valued by the individual.

67
Q

Karoshi [Japan]

A

is the Japanese term for overwork or job burnout. This has become a concern in Japan, where employees have demonstrated high levels of stress caused by working too many hours.

68
Q

Leadership

A

is the process of influencing people to direct their efforts toward the achievement of some particular goal or goals.

69
Q

Manager versus Leader

A

have often been used interchangeably in the business environment, many believe that there exist clear distinctions in characteristics and behaviors between the two, adding ambiguity and confusion to an already convoluted situation. Table 13-1 provides a comparison of perceived differences between leadership and management.

70
Q

Theory X

A

believes that people are basically lazy and that coercion and threats of punishment often are necessary to get them to work.

71
Q

Theory Y

A

believes that under the right conditions people not only will work hard but will seek increased responsibility and challenge.

72
Q

Theory Z

A

believes that workers seek opportunities to participate in management and are motivated by teamwork and responsibility sharing.

73
Q

Authoritarian leadership

A

is the use of work-centered behavior designed to ensure task accomplishment.

74
Q

Paternalistic leadership

A

is the use of work-centered behavior coupled with a protective employee-centered concern.

75
Q

Participative leadership

A

is the use of both a work and task-centered approach to leading subordinates.

76
Q

Variety amplification

A

is the creation of uncertainty and the analysis of many alternatives regarding future action, and is characteristic of Japanese leadership.

77
Q

Variety reduction

A

is the limiting of uncertainty and the focusing of action on a limited number of alternatives, and is characteristic of U.S. leadership.

78
Q

Charismatic leaders

A

inspire and motivate employees through their charismatic traits and abilities.

79
Q

Transformational leaders

A

are visionary agents with a sense of mission and who are capable of motivating their followers to accept new goals and new ways of doing things.

80
Q

Transactional leaders

A

exchange rewards for effort and performance and work on a “something for something” basis.

81
Q

Authentic leadership

A

What makes a leader authentic? An interpretation by Shamir and Eilam suggested that authentic leaders have four distinct characteristics:
• authentic leaders do not fake their actions
• authentic leaders are driven from internal forces, not external rewards
• authentic leaders are unique and guide based on personal beliefs, not others’ orders
• authentic leaders act based on individual passion and values

82
Q

Home-country nationals

A

are expatriate managers who are citizens of the country where the multinational corporation is headquartered.

83
Q

Expatriates

A

are managers who live and work away from their home-country. They are citizens of the country where the multinational corporation is headquartered

84
Q

Host-country nationals

A

are local managers who are hired by the MNC. Governments sometimes require the use of host country nationals.

85
Q

Third-country nationals

A

are citizens of countries other than the one in which the MNC is headquartered or the one in which the managers are assigned to work by the MNC.

86
Q

Inpatriates

A

are individuals from a host-country or a third-country national who are assigned to work in the home-country.

87
Q

Adaptability screening

A

is the process of evaluating how well a family is likely to stand up to the stress of overseas life.

88
Q

Repatriation

A

refers to the return to one’s home-country from an overseas management assignment.

89
Q

Transition strategies

A

are used to help smooth the adjustment from an overseas to a stateside assignment.

90
Q

Repatriation agreements

A

tell the individual how long she or he will be posted overseas and promises to give the individuals, on return, a job that is mutually acceptable

91
Q

Training

A

is the process of altering employee behavior and attitudes in a way that increases the probability of goal attainment.

92
Q

ethnocentric

A

stresses nationalism and often puts home office people in charge of key international management positions.

93
Q

polycentric

A

places local nationals in key positions and allows these managers to appoint and develop their own people.

94
Q

regiocentric

A

relies on local managers from a particular geographic region to handle operation in and around that area.

95
Q

geocentric

A

seeks to integrate diverse regions of the world through a global approach to decision-making.

96
Q

Learning

A

is the acquisition of skills, knowledge, and abilities that results in a relatively permanent change in behavior.

97
Q

Ethnocentrism

A

which is the belief that one’s own way of doing things is superior to that of others.

International Management (1 decks)

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