Test Review Page Flashcards
Global standardization strategy
This strategy involves offering standardized products or services across various markets with minimal customization
localization or multi domestic strategy
This strategy emphasizes adapting products or services to meet the specific preferences, cultural nuances, and requirements of individual markets, or regions
transnational strategy
The strategy combines elements of both global standardization and localization
What are the advantages of a global standardization strategy?
Emphasis is on economies of scale, resulting in proportionate, cost savings gain through efficient, production of goods in large quantities
what are the disadvantages of global standardization strategy?
It does not respond to individual cultures that it requires significant organization and communication between countries
What is a multi domestic strategy?
It is a strategy where companies invest in other countries, but do not have coordinated product offering in each country decisions are decentralized made with local needs and customs in mind
what are the advantages of a multi domestic strategy?
it involves less political risk and exchange rate risk increase product and a greater response to local needs
What are the disadvantages of a multi domestic strategy?
it’s more expensive to implement and reduces economies of scale
what is a transnational strategy
It’s a strategy where companies invest in foreign operations, maintaining central corporate facility, but giving decision-making, R&D and marketing powers to each individual foreign market
what are the advantages of a trans international strategy?
It combines the best elements of global and multi domestic strategies with manufacturing taking place at the least expensive sources in human resources, and marketing managed at the local level
what are the disadvantages of a transnational strategy?
Combining the best elements of a global and multi domestic strategy results in a much more complex organization
What is the TPP?
The transpacific partnership was a proposed trade agreement on 12 Pacific Rim countries aimed at reducing trade barriers, promoting economic growth, and establishing common standards
what is Luxx leaks?
Luxe leaks refers to the release of confidential documents in 2014 that revealed tax avoidance schemes in Luxembourg
what is the purpose of the European Union?
The European Union aims to promote economic and political cooperation among its member states to peace, stability and prosperity
what are the three governing bodies of the EU what is each one’s purpose?
European commission it proposes and enforces EU laws manages policies represents the EU internationally and manages the EU budget.
European council comprises the heads of state or government of EU member countries and sets the overall political direction and priorities
European Parliament, directly elected by citizens, it debates and passes laws overseas the commissions work and represents citizens
List three expected benefits from CETA
increase trade CET aims to eliminate tariffs and facilitate trade, potentially boosting, economic growth.
Enhanced regulatory cooperation that promotes alignment of regulations and standards between and reducing barriers and trade and investment
Job creation expected to create new job opportunities, and increase market access for business, Canada and the EU
What does the World Trade Organization do? (three points)
A forum for negotiations. The WTO is a place where countries can discuss their trade disparities and come to mutually agreeable solutions.
A set of rules the WTO rules or agreements have been negotiated and signed by the governments of member countries to set guidelines portrayed between countries, they promote the flow of goods and services across borders and eliminate barriers
Dispute settlement. The WTO is a form for countries to result mediate and arbitrate discrepancies in how countries have interpreted their trade agreements
What is the Asia Pacific economic cooperation in short APEC
Asia, Pacific economic cooperation, APEC work focusses on three pillars
Trade and investment liberalization, business facilitation, economic, and technical operation
Group 7 or G7
The purpose of G7 is to discuss macro economic issues, such as economic growth, trade, liberalization, and helping develop in countries. The G7 is also concerned the highway terrace of climate control, energy, arms, control, crime, and drugs.
Group of 20 G20
The group of 20 was established during the economic crisis of the 1990s to provide a discussion form for the major economies of the world creation of G20 filled the need to develop beyond G7 acknowledge the influence that country, such as Brazil, Russia, Indian China have on world economics and trade
what does BRICS stand for?
Brazil, Russia, India, China, South Africa
Organization for economic cooperation, and development OECD
The organization for economic cooperation and development is a trade organization for the advancement of democracy and market economies
what is the mission of the OECD?
Promote economic growth, expand employment, improve the standard of living, sustain financial stability help countries, economic development, enhance world trade
World bank
Main activities would include lending money to developing countries, and providing training and banking regulations and exchange rates
International monetary fund IMF
The international monetary fund is an organization that tracks, economic trends, analyzes countries, financial performance one’s governments a political financial problems provides expertise to governments and provides a forum for discussion
IMF purpose
To promote financial stability, prevent and solve economic crisis, encourage growth and prevent and relieve poverty
IMF accomplishes three activities
encouraging countries to adopt responsible, economic policies,
Lending money to emerging in development countries,
Providing technical training in area, such as banking regulations, and exchange rate policies
what is the organization of petroleum?
OPEC
What’s Grexit
refers to the hypothetical scenario of greece leaving the eurozone due to its financial troubles during sovereign debt crisis
what’s brexit
stands for “british exit” from the european union which occurred when the united kingdom voted in a referendum to leave the EU in 2018
five main purposes of the UN
maintain international peace and security
protect human rights
deliver humanitarian aid
support sustainable development and climate action
uphold international law
what is general assembly
the assembly is the policymaking and representative body of UN
what is the paris agreement
the Paris agreement is a legally vid ing international treaty on climate change
what do countries do under the paris agreement to address greenhouse admissions
countries communicate actions they will take to reduce their greenhouse gas emissions in order to reach the goals of paris agreement
what do countries include in their NDCs (Nationally Determined Contributions) regarding climate change adaption
countries communicate actions they will take to build resilience and adapt to the impacts of climate change
what is the vision of the Paris Agreemnt regarding technology development and transfer
envisions fully realizing technology development and transfer to both improve resilience to climate change and reduce greenhouse gas emission
what is CSR
The duty of the companies management is to work in the best interest of the society relies on for resources, human material and environmental to advance the welfare of society and act as a global citizen through its policies
benefits of corporate social responsibility
Companies use CSR as a marketing tool being socially responsible to situates governments from implementing regulations that might interfere with business companies attract and retain excellent employees if they have a solid CSR practice
some criticism of corporate social responsibility
Being socially responsible cost companies money which reduces profit companies spend valuable time and employee energy and CSR instead, they could concentrate on maximizing shareholders wealth
what is a stakeholder?
Individuals or groups affected by the organization that have a stake in its success and profitability
primary stakeholder and example
Stakeholders, including custom suppliers, competitors and employees directly affect the company, and it’s probability. These stakeholders are of critical importance, and their interest should be considered first.
secondary stakeholders and examples
Stakeholders also have an impact on the company, but do not directly includes success, or contribute to its profitability
Provide a list of primary stakeholders
Primary day holders include employees, management, customers, and stakeholders
provide a list of secondary stakeholders
Competitors, creditors, banks, foreign and domestic governments, and labour unions media
if two examples of primary stakeholders in a sentence
employees and customers are essential primary stakeholders who directly impact in our impacted by the companies operations 
give two examples of secondary stakeholders
competitors and foreign governments are secondary stakeholders who influence and are influenced by external environment
what is corporate social responsibility
Corporate social responsibility refers to a companies commitment to conduct business in an ethical manner, considering its social environmental and economic impact CSR initiatives aim to contribute positively to society while ensuring sustainable business practises
give two examples of primary stakeholders, the rise and fall of times in a sentence explain what CSR is and how the company either has positive or negative CSR
and rise and fall of Tom’s employees who believed in the companies, mission and customers who supported the one for one model, are crucial primary stakeholders as their engagement and loyalty, directed impact directly impacted Tom’s profitability and growth. Tom had a positive CSR initially, with its mission to donate a pair of shoes for every pair sold
