| Flap 1 |
Flap 2 |
| International management |
The management of business operations conducted in more than one country. |
| Infrastructure |
A country's physical facilities that support economic activities |
| Political risk |
A company's risk of loss of assets, earning power, or managerial control due to politically based events or actions by host governments. |
| Power distance |
The degree to which people accept inequality in power among institutions, organizations, and people. |
| Uncertainty avoidance |
A value characterized by people's intolerance for uncertainty and ambiguity and resulting support for beliefs that promise certainty and conformity. |
| Individualism |
A preference for a loosly knit social framework in which individuals are expected to take care of themselves. |
| Collectivism |
A preference for a tightly knit social framework in which individuals look after one another and organizations protect their members' interests. |
| Masculinity |
A cultural preference for achievement, heroism, assertiveness, work centrality, and material sucess. |
| Feminity |
A cultural preference for relationships, cooperation, group decision making, and quality of life. |
| long-term orientation |
A greater concern for the future and high value on thrift and perserverance. |
| Short-term orientation |
A concern with the past and present and a high value on meeting social obligations. |
| Ethnocentrism |
A cultural attitude marked by the tendency to regard one's own culture as superior to others. |
| Most favored nation clause |
A term describing a GATT clause that calls for member countries to grant other member countries the most favorable treatment they accord any country concerning imports and exports. |
| Euro |
A single European currency that replaced the currencies of 12 European nations. |
| Market entry stratagies |
An organizational strategy for entering a foriegn market. |
| Global outsourcing |
Engaging in international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country; also called global sourcing. |
| Culture shock |
Feelings of confusion, disorientation, and axiety that result from being immerded in a foriegn culture. |
| Four statges of globalization |
Domestic, international, multinational, global. |
| Key factors in the international enviromant |
Economic, lega-political, sociocultural |
