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EGC1
Global Operations
| Question | Answer |
|---|---|
| determine international strategy, competencies, and international competitive advantage | Interna.stgy.is concern w/ways firms make funda.choices about dev.&deploying scarce res.interna.The goal is to create a comp.adv. that is sustane over time.It competencies,that are valuable,rare,&difficult to imitate&that the org.is able to exploit fully. |
| conduct the steps in the global strategic planning process | a formal structure in which managers 1.analyze the company’s external envi.,2.analyze the company’s internal environment,3.define the company’s business and mission,4.set corporate objectives,5.quantify goals6.formulate strategies,&7.make tactical plans. |
| describe why new directions in strategic planning are important | Strg.planning is trad.done either in a top-down/bottom-up/iterative process.Oper.mgr., rather than dedicated staff plann.,now have assume a primary role in plann.Firms use less structure formats&much shorter docs.Mgr.are more concernedw/issues/strg/imple. |
| define industrial espionage | It's costing domestic& intern.co.billions of $ annually in lost sales&may even put a co.’s long-term compe.&survival at risk.The threat of espionage is increasing,particularly as info.& knowledge inc.represent represent the found.for co.’competitiveness. |
| international strategy | The way firms make choices about acquiring and using scarce resources in order to achieve their international objectives |
| competitive advantage | The ability of a company to have higher rates of profits than its competitors |
| competencies | Skills or abilities required in order to adequately complete a task |
| strategic planning | The process by which an organization determines where it is going in the future, how it will get there, and how it will assess whether and to what extent it has achieved its goals |
| value chain analysis | An assessment conducted on the chain of interlinked activities of an organization or set of interconnected organizations, intended to determine where and to what extent value is added to the final product or service |
| knowledge management | The practices that organizations and their managers use for the identification, creation, acquisition, development, dispersion, and exploitation of competitively valuable knowledge |
| tacit knowledge | Knowledge that an individual has but that is difficult to express clearly in words, pictures, or formulae, and therefore difficult to transmit to others |
| explicit knowledge | Knowledge that is easy to communicate to others via words, pictures, formulate, or other means |
| mission statement | A broad statement that defines the organization’s purpose and scope |
| vision statement | A description of the company’s desired future position if it can acquire the necessary competencies and successfully implement its strategy |
| values statement | A clear and concise description of the fundamental values, beliefs, and priorities of the organization’s members |
| competitive strategies | Action plans to enable organizations to reach their objectives |
| scenarios | Multiple, plausible stories about the future |
| contingency plans | Plans for the best- or worst-case scenarios or for critical events that could have a severe impact on the firm |
| sales forecast | A prediction of future sales performance |
| budget | An itemized projection of revenues and expenses for a future time period |
| policies | Broad guidelines intended to assist lower-level personnel in handling recurring issues or problems |
| procedures | Specified ways of performing a particular task or activity |
| top-down planning | Planning process that begins at the highest level in the organization and continues downward |
| bottom-up planning | Planning process that begins at the lowest level in the organization and continues upward |
| iterative planning | Repetition of the bottom-up or top-down planning process until all differences are reconciled |
| industrial espionage | Act of spying on a competitor to learn secrets about its strategy and operations |
| competitor analysis | Process in which principal competitors are identified and their objectives, strengths, weaknesses, and product lines are assessed |
| competitor intelligence system (CIS) | Procedure for gathering, analyzing, and disseminating information about a firm’s competitors |
| benchmarking | A technique for measuring a firm’s performance against the performance of others that may be in the same or a completely different industry |
| explain the concept of supply chain management and design | The dsgn.of a co.prdts./srvcs.has a fund.reltshp w/the types of inputs the co.will require.Concurrent engine.appro.2dsgn.allow proposed dsgn.2be subj.2earlier asments.on cost,qual.,&manuf.dimen.,enhance the effic.&effect.of subsequent supplychain mgt.act. |
| explain why the added costs of global sourcing are important | Intern.freight,insurance,&packing may add 10 to 12% to the quoted price, depending on the sales term used.Import duties,customhouse broker’s fees,cost of letter of credit,cost of inventory in the pipeline,&intern.travel are some of the other added costs. |
| define just-in-time (JIT) production systems and identify their problems | JIT requires coordinated mgt.of materials, people,&suppliers.IT’s goal is2eliminate inve.,reduce process&setup times,&use partici.mgt.2ensure worker input&loyalty2the firm.Its a balanced system,&so if 1 oper.stops the prod.line stops. |
| define six-sigma systems | Six Sigma is a bus.mgt.process that concentrates on eliminate variation & reducing defects from work processes.The 5steps are: define,measure,analyze,improve,&contro.The methods often requires that co.rethink the way they do things & adapt their culture. |
| list impediments to global standardization of production processes and procedures | Stds. help ensure that materials, prdts, proc.,&srvs.are appr.for their purpose,helping co.meet market&compe. demands. Stdiz.of act.helps simplify org.&control at headquarters bc replication enables the work to be accomp.w/a smaller staff of support. |
| outsourcing | Hiring others to perform some of the non-core activities and decision making in a company’s value chain, rather than having the company and its employees continue to perform those activities |
| supply chain management | The process of coordinating and integrating the flow of materials, information, finances, and services within and among companies in the value chain from suppliers to the ultimate consumer |
| offshoring | Relocating some or all of a business’s activities or processes to a foreign location |
| just-in-time (JIT) | A balanced system in which there is little or no delay time and idle in-process and finished goods inventory |
| total quality management (TQM) | System in which the entire organization is managed so that it excels on all dimensions of product and services that are important to the customer |
| quality circle (quality control circle) | Small work group that meets periodically to discuss ways to improve its functional areas and the quality of the product |
| Taylor’s scientific management system | System based on scientific measurements that prescribes a division of work whereby planning is done by managers and plan execution is left to supervisors and workers |
| preventive (planned) maintenance | Maintenance done according to plan, not when machines break down |
| synchronous manufacturing | An entire manufacturing system with unbalanced operations that emphasizes total system performance |
| bottleneck | Operation in a manufacturing system whose output sets the limit for the entire system’s output |
| mass customization | The use of flexible, usually computer aided, manufacturing systems to produce and deliver customized products and services for different customers worldwide |
| Six Sigma | Business management process for reducing defects and eliminating variation. The Six Sigma approach includes five steps: define, measure, analyze, improve, and control. |
| standards | Documented agreements containing technical specifications or other precise criteria that will be used consistently as guidelines, rules, or definitions of the characteristics of a product, process, or service |
| manufacturing rationalization | Division of production among a number of production units, thus enabling each to produce only a limited number of components for all of a firm’s assembly plants |
| backward vertical integration | Arrangement in which facilities are established to manufacture inputs used in the production of a firm’s final products |
| intermediate technology | Production methods between capital- and labor-intensive methods |
| define global mind-set | Successful managers in international companies must demonstrate a combination of high knowledge differentiation and high knowledge integration. |
| show the relationships among competitive strategies (international, multidomestic, regional, and transnational) and international human resource management approaches (ethnocentric, polycentric, region-centric, and global) | Recognize that competitive strategy should be a primary determinant of the IHRM policies that an IC will use. |
| define IC executives and explain why it is difficult to find qualified executives for international companies (ICs) | Knowledge of a people’s language is essential to understand its culture and to know what’s going on, as every effective manager must. |
| expatriate | A person living outside his or her country of citizenship |
| global mind-set | Combines an openness to and an awareness of diversity across markets and cultures with a propensity and ability to synthesize across this diversity |
| ethnocentric | As used here, related to hiring and promoting employees on the basis of the parent company’s home-country frame of reference |
| polycentric | As used here, related to hiring and promoting employees on the basis of the specific local context in which the subsidiary operates |
| regiocentric | As used here, related to hiring and promoting employees on the basis of the specific regional context in which the subsidiary operates |
| geocentric | As used here, related to hiring and promoting employees on the basis of ability and experience without considering race or citizenship |
| home-country national | Same as parent-country national |
| parent-country national (PCN) | Employee who is a citizen of the nation in which the parent company is headquartered; also called home-country national |
| host-country national (HCN) | Employee who is a citizen of the nation in which the subsidiary is operating, which is different from the parent company’s home nation |
| third-country national (TCN) | Employee who is a citizen of neither the parent company nation nor the host country |
| language trap | A situation in which a person doing international business can speak only his or her home language |
| allowances | Employee compensation payments added to base salaries because of higher expenses encountered when living abroad |
| bonuses | Expatriate employee compensation payments in addition to base salaries and allowances because of hardship, inconvenience, or danger |
| compensation packages | For expatriate employees, packages that can incorporate many types of payments or reimbursements and must take into consideration exchange rates and inflation |
| international status | Entitles the expatriate employee to all the allowances and bonuses applicable to the place of residence and employment |
Created by:
mmoreno12
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