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International Business > Test 5 > Flashcards

Test 5 Flashcards

1
Q

Value creation activities

A

production includes activities involved in creating a product

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2
Q

Improved quality control:

A

reduces costs, increases productivity, lowers rework and scrap costs, and reduces warranty costs and time

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3
Q

Six Sigma

A

Descendent of total quality management; statistically based philosophy that aims to reduce defects, boost productivity, eliminate waste, and cut costs throughout a company

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4
Q

Total quality management (TQM)

A

refers to the management philosophy that takes as its central focus the need to improve the quality of a company’s products and services

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5
Q

International Standards

A

ISO 9000; certification process that requires certain quality standards that must be met

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6
Q

country factors

A

political and economic systems, culture and relative factor costs differ from country to country

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7
Q

technological factors

A

C

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8
Q

minimum efficient scale

A

refers to the level of output at which most plant level scale economies are exhausted

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9
Q

flexible manufacturing and mass customiazation

A

reduces setup times for complex equipment, increases utilization of individual machines through better scheduling, and improves quality control at all stages of manufacturing process.

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10
Q

Production factors

A

product features, locating production facilities, and strategic roles for production facilities

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11
Q

product features

A

value-to-weight ratio influences transportation costs and universal needs

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12
Q

Locating production facilities

A

centralized and decentralized

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13
Q

strategic roles for production facilities

A

importance of global learning, offshore factory, source factory, and server factory

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14
Q

The hidden costs of Foreign locations

A

High employee turnover, shoddy workmanship, poor product quality, and low productivity

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15
Q

make or buy decisions

A

made at both the strategic and operational levels, with the strategic level being focused on the long term and the operational level being focused on level being more focused on the short term

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16
Q

Global logistics

A

global distribution center, global inventory management, transportation, and reverse logistics

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17
Q

global distribution center

A

facility that positions and allows customization of products for delivery anywhere in the world

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18
Q

global inventory management

A

how much inventory to hold, in what form to hold it, and where to locate it in the supply chain

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19
Q

transportation

A

represents the largest percentage of any logistics budget; refers to the movement of raw materials

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20
Q

reverse logistics

A

process of planning, implementing, and controlling the efficient, cost effective flow of raw materials

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21
Q

just in time inventory

A

designed to deliver parts to a production process as they are needed and not before

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22
Q

Electronic data technology (EDI)

A

electronic interchange of data between two or more companies

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23
Q

Enterprise resource planning (ERP)

A

Wide ranging business planning and control system that includes supply chain related subsystems

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24
Q

Coordination in global supply chains

A

integration and coordination are critically important; shared decision making creates a more integrated coherent, effcient, and effective global supply chain

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25
Q

mass producing a standardized output

A

allows a firm to realize substantial unit cost reductions from experience curve effects and other economies of scale

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26
Q

Theodore Levitt’s HBR article

A

importance of technology in globalization; fewer differences in national and regional preferences

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27
Q

market segmentation

A

involves identifying groups of customers whose purchasing behavior differs from others in important ways

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28
Q

intermarket segmentation

A

segment of customers that spans multiple countries, transcending national borders

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29
Q

Business analytics include

A

descriptive, predictive, and prescriptive

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30
Q

International market research

A

involves systematic collection, recording, analysis, and interpretation of data to provide knowledge useful for decision making in a global company

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31
Q

Basic data collected

A

data on the country and potential market segments

32
Q

concentrated retail system

A

few retailers supply most of market

33
Q

fragmented retail system

A

many retailers, none with a major share

34
Q

Chennel length

A

refers to the number of intermediaries between the producer and the consumer

35
Q

channel exclusivity

A

distribution channel that is difficult for outsiders to access

36
Q

channel quality

A

not consistent in emerging markets and less developed nations

37
Q

noise level

A

refers to the number of other messages competing for a potential consumers attention

38
Q

Push strategy

A

emphasizes personal selling (multilevel marketing companies)

39
Q

Pull Strategy

A

depends more spending on mass media advertising

40
Q

price discrimination

A

charging what the market will bear; helps maximize profits

41
Q

predatory pricing

A

use aggressive pricing to drive out competitors and then raise prices and operate in a monopoly position

42
Q

multipoint pricing strategy

A

two or more international businesses compete against each other in two or more national markets

43
Q

experience curve pricing

A

aggressive pricing designed to increase volume and help the firm realize experience curve economies

44
Q

antidumping regulations

A

set a floor under export prices and limit firms ability to pursue strategic pricing

45
Q

Competition policy

A

designed to promote competition and to restrict monopoly practices

46
Q

cross functional teams

A

take a product development project from the initial concept development to market introduction

47
Q

Human resource management

A

strong link with profitability; tends to be weak in multinational organizations; has a critical impact on the people

48
Q

staffing policy

A

selecting individuals who have the skills required to do particular jobs

49
Q

types of staffing policies

A

The ethnocentric, Polycentric, geocentric,

50
Q

The ethnocentric approach

A

limits advancement opportunities for host country nationals

51
Q

Polycentric approach

A

requires host country nationals to be recruited to manage subsidiaries, while parent country nationals occupy key positions at corporate headquarters

52
Q

geocentric approach

A

seeks the best people for key jobs throughout the organization. builds a cadre of international executives who feel at home working in a number cultures

53
Q

Expatriate managers

A

used by ethnocentric and geocentric staffing policies

54
Q

Inpatriates

A

a subset of expatriates who are citizens of a foreign country working in the home country of their multinational employer

55
Q

Expatriate failure rates

A

results in premature return from a foreign posting and high resignation rates

56
Q

Reasons for US failure

A

managers inability to adjust; inability of family to adjust;

57
Q

Expatriate selection

A

four dimensions that predict success (Self orientation, others orientation, perceptual ability, and cultural toughness)

58
Q

global mindset

A

fundamental attribute of a global manager; can deal with high levels of complexity and ambiguity and displays openness to the world

59
Q

training

A

gives expatriate managers skills for the foreign posting

60
Q

development

A

intended to develop the managers skills over his or her career with the firm

61
Q

cultural training

A

seeks to foster an appreciation for the host country’s culture, history, politics, economy, religion, and social and business practices

62
Q

language training

A

exclusive reliance on English diminishes an expatriate managers ability to interact with host country nationals

63
Q

practical training

A

aimed at helping the expatriate manager and family ease themselves into day-to-day life in the host country

64
Q

Repatriation of expatriates

A

should be seen as the final link in integrates process; face challenges at the home organization

65
Q

management development and strategy

A

ongoing management education; increasingly used as a strategic tool; helps build informal management network in firm

66
Q

performance appraisal problems

A

unintentional bias; distance and lack of experience working abroad by home country managers

67
Q

national differences in compensation

A

us CEOs earn on average, roughly double the pay of non us CEOs

68
Q

Expatriate Pay

A

balance sheet approach, Base salary, foreign service premium, allowances, taxation, and benefits

69
Q

Balance sheet approach

A

includes base salary, a foreign service premium, allowances of various types, tax differentials, and benefits

70
Q

Base salary

A

same range as the base salary for a similar position in the home country

71
Q

Foreign service premium

A

extra pay the expatriate receives for working outside his or her country of orgin

72
Q

Allowances

A

hardships, housing, cost of living, education,

73
Q

Taxation

A

may have to pay income tax to both home and host country governments

74
Q

Benefits

A

same level of medical and pension benefits abroad as at home

75
Q

Concerns of organized labor

A

the company can counter its bargaining power with the power to move production to another country

76
Q

approaches to labor relations

A

centralized (trend is toward greater centralized control, used to increase competitive advantage); and decentralized

International Business (1 decks)

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