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PBM - Chapter 3
Vocabulary / key term - By Ian McGonigal
| Question | Answer |
|---|---|
| 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 |
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