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international
| Term | Definition |
|---|---|
| International Marketing | international process of planning or executing a marketing mix to create exchanges. |
| 4 P’s of marketing | price, product, place, promotion |
| Globalization and multinational corporations | I. Pros: fostering governments self discipline with taking a consumers welfare economic integration ( can produce in larger quantities, better and faster with lower cost) II. con: exploration support for illegitimate government |
| MNC criteria ( multinational corporation ) | 1. size 2.structure • number of countries • owners and managers 3.performance • commitment in terms of sales, profits, physical and human assets • * you can be international in a number of ways but there are many ways to become international |
| Relationship between size and international performance | - a business can be extremely bug and yet not international |
| ethnocentric | Australia wants to create a plant in japan but employees employees from Australia. ( efficient but not effective. centralization) |
| Polycentric | Australia wants to create a plant in japan and employs Japanese workers. ( effective but not efficient. decentralization) |
| geocentric | Australia wants to create a plant in japan and hires anyone fit for the job no matter the nationality ( efficient and effective but complex. both centralization and decentralization) |
| Trade theories: | - principle of absolute advantage = export a product at lower cost than other nations - principle of comparative or relative advantage = specialize in a product with greatest relative advantage |
| trade theories | -principle of absolute advantage - principle of comparative (relative) advantage -Factor endorsement theory |
| Trade barriers | government barriers + tariffs + nontariff barriers - private barriers |
| Factor immobility | - labor moves when a greater opportunity is seen |
| Transparency | : for the sake of equity you need to be transparent - a positive concept - we want people to now that there is no hidden agenda |
| costs of protectionism: | when countries protect industries from overpowering global producers, sometimes prices go up. |
| free trade | the reduction in barriers between countries and the elimination of preferential policies that favor countries of specific industries. (Less rules?) |
| fair trade | the wages and working conditions of labor in developing markets. Fair traders suggest that companies and governments should regulate trade to ensure that workers receive a just level on compensation and a safe working environments. |
| WTO (world trade Organization) | the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct heir business |
| MFN ( most favored Nation) | means the same thing as NTR . the WTO favors some nations regarding trade negation but (NTR) ensures that both sides of negotiations are fairly treated. |
| NTR ( normal Trade Relations) | switch their name because they wanted to be more about what they wanted to do. World trade changed their name because it didn’t sound appealing. Smaller nations wanted right but barely contributed anything. |
| (GSP) Generalized system of preferences | it is product specific . used by advanced countries to help out the poor countries. |
| comparative advantage | one country may be better at producing a product better than another but should only produce what it produces best.. |
| dynamic or static concept | dynamic: change over time and not constant static: remains constant over time and does not change |
| political risks | 1. expropriation 2. creeping expropriation 3. terrorism and ransom |
| expropriation | act of taking of privately owned property by government to be used for the benefit of the public |
| creeping expropriation | gradually taking away little by little on what your able to do. (40%, 20%, 10%) |
| terrorism and ransom | : what should and should not to in order to make this difficult. Change your routine. Learn how to use their weapons. |
| minimizing political risks | have local partners, employees, delegates to help ensure your company is in accordance w/ local government policies. - legal environment - Jurisdiction - Extraterritorial application of laws |
| legal environment | Banking (example) US requires foreign government/ banks to report how many foreign accounts US citizens have. |
| jurisdiction | your in a legal dispute outside the country. the court will look at nationality and where the contract was first created along with the agreements made with the parties.the local gov location of wrongdoing has the jurisdiction to try the offender. |
| extraterritorial application of law | a country will not to apply this law outside of its own law. Every now and then there is an exception |
| FCPA ( foreign concept practices act): | if you make a payment in order to get a contract it is illegal. Will be held responsible accordingly. Bribe payment is illegal . it is ok to make an expedited payment because your only giving them an expedited payment for a routine function |
| discretionary authority | : the person has the power on judgment and discretion on whether or not you should be awarded a contract or not. If you try to make a payment to this person it is illegal. ( Influence the decision… contract for building a bridge) |
| clerical fucntions | however with clerical functions, when a payment is made to these people ( expediting payment) you pay money to clerks and secretaries to perform a clerical function. All because this function must be performed either way. ( speed up the process) |
| constructive engagement | even if we don’t immediately agree/ coincide with a countries stance, we can continue relations in hopes that the youth (next generation) will be open to change. • Continue engagement w/o embargoes, etc |
| single party system | have the ability to control the knowledge that is dispersed and received from the outside world. Can only be exposed to what is going on in the inside area but the outside world shall not be exposed to those countires. |
| economic systems | socialism, communism, capitalism |
| socialism | government owns the industries most crucial to the nations society and the rest is open to privatization. |
| capitalism | minimum government interference. private ownership |
| communism | maximum government interference. public ownership |
| BRIC countries | Brazil, Russia, India, china... - these countries are moving towards capitalism (global direction) |
| managerial capitalism | owners might not be managers and vice versa. ( management role is delegated to maximize profit. |
| personal or family capitalism | family is the preferred direction of promotion/ direction/ ownership |
| communitarian cooperative | look at more than stockholders for company and also at stakeholders ( supplies, workers, etc) There is a social reason for existence that directly contributes to the welfare of community. |
| frontier | relatively new at capitalism and just figuring it out. |
Created by:
loverockstar92
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