Vocabulary / key term - By Ian McGonigal
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| International management | The management of business operations conducted in more than one country.
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| Infrastructure | A country's physical facilities that support economic activities
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| 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.
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| Power distance | The degree to which people accept inequality in power among institutions, organizations, and people.
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| Uncertainty avoidance | A value characterized by people's intolerance for uncertainty and ambiguity and resulting support for beliefs that promise certainty and conformity.
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| Individualism | A preference for a loosly knit social framework in which individuals are expected to take care of themselves.
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| Collectivism | A preference for a tightly knit social framework in which individuals look after one another and organizations protect their members' interests.
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| Masculinity | A cultural preference for achievement, heroism, assertiveness, work centrality, and material sucess.
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| Feminity | A cultural preference for relationships, cooperation, group decision making, and quality of life.
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| long-term orientation | A greater concern for the future and high value on thrift and perserverance.
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| Short-term orientation | A concern with the past and present and a high value on meeting social obligations.
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| Ethnocentrism | A cultural attitude marked by the tendency to regard one's own culture as superior to others.
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| 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.
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| Euro | A single European currency that replaced the currencies of 12 European nations.
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| Market entry stratagies | An organizational strategy for entering a foriegn market.
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| 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.
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| Culture shock | Feelings of confusion, disorientation, and axiety that result from being immerded in a foriegn culture.
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| Four statges of globalization | Domestic, international, multinational, global.
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| Key factors in the international enviromant | Economic, lega-political, sociocultural
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