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Group 7
International Business
| front | back |
|---|---|
| Common Market | A form of regional economic integration in which countries abolish internal tariffs, use a common external tariff and abolish restrictions on factor mobility. |
| Civil Law | A legal system based on a very detailed set of laws that are organized into a code, countries with a civil law system, also called a codefied legal system (Germany, France & Japan) |
| Complementary Assets | Those assets that allow a firm to make money, even if the innovation is not unique, making it possible to exploit the knowledge generated by innovation. |
| Customs Union | A form of regional economic integration that eliminates internal tariffsamong member nations ans establishes common external tariffs. |
| Dumping in International Trade | The underpricing of exports, usually below cost or below the home country price. |
| Emerging Markets | Business and market activity in industrializing or emerging regions of the world with an emerging economy. Examples:China, India, Brazil, Malaysia, countries in Eastern Europe, and parts of Africa. |
| Ethocentrism | A belief that one's own group is superior to others, also used to describe a company's belief that what worked at home should work abroad. |
| European Union | A form of regional economic integration among countries in Europe that involves a free-trade area, a customs union, and the free mobility of factors of production that is working toward political and economic union. |
| Expropriation | The taking over of ownership of private property by a country's government. |
| Foreign Corrupt Practices Act (FCPA) | A law that criminalizes certain types of payments by US companies, such as bribes to foreign government officials. |
| Foreign Direct Investment (FDI) | An investment that gives the investor a controlling intrest in a foreign company. |
| Free Trade Area (FTA) | A form of regional economic integration in which internal tariffs are abolished but member countries set their own external tariffs. |
| Geocentrism | Operations based on an informed knowledge of both home and host country needs. The emphasis of the region/geocentrism view is on hiring the best available faculty regardless of their nationalities or origins of their degrees. |
| High-context Cultures | A culture in which most people consider that peripheral and hearsay information is necessary for decision making because such information bears on the context of the situation. |
| Internation Monetary Fund (IMF) | A multi-governmental association organized in 1945 to promote exchange-rate stability and to facilitate the international flow of currencies. |
| Management Contracts | An arrangement whereby one company provides management personnel, who perform general or secialized management functions to another company for free. |
| MERCOSUR | A major subregional group established by Argentina, Brazil, Paraguay, and Uryguay, which spun off from ALADI in 1991 with the goal of setting up a customs union and common market. |
| Monochromic Cultures | A culture in which most people prefer to deal with situations sequentially (especially those involving other people) such as finishing with one customer before dealoing with the next. |
| Multidomestic Company | A company with international operations that allows operations in one country to be relatively independent of those in another. |
| Multinational Corporation (MNC) | A company that has an integrated global philosophy encompassing both domestic and overseas operations, sometimes used synonymously with multinational corporation or transnational corporation. |
| North American Free Trade Agreement (NAFTA) | A free trade agreement involving the US, Canada and Mexico that went into effect January 1, 1994 and will be phased in over a 15 year period. |
| Nationalization | The transfer of ownership to the state. |
| Oligopolistic Competition | An industry in which there are few producers or sellers. |
| Political Risk | Potential changes in political conditions that may cause a company's operating positions to deteriorate. |
| Polycentrism | Characteristics of an individual or an organization that feels that differences in a foreign country, real or imaginary, great or small, need to be accounted for in management decisions. |
| Privatization | Selling of government-owned assets to private individuals or companies. |
| Silent Language | The wide variety of cues other than formal language by which messanges can be sent. |
| Theocratic Law | Law based on religous precepts. |
| Turnkey Operations | An operating facility that is constructed under contract and transferred to the owner when the facility is ready to begin operations. |
| World Trade Organization (WTO) | A voluntary organization through which groups of countries negotiate trading agreements and which had authority to oversee trade disputes among countries. |
| ASEAN FTA | A free-trade area formed by the Association of South East Asian Nations(ASEAN)countries on January 1, 1993, with the goal of cutting tariffs on all intrazonal trade to a maximum of 5% by January 1, 2008. |
| Common Law | A legal system based on tradition, precedent, custom and usage, in which the courts interpret the law based on those conventions (United Kingdom and former British Colonies) |
| Low-context Culture | A culture in which most people consider relevant only information that they recive first hand and that bears very directly on the decision they need to make. |
| Polychronic Culture | A culture in which most people are more comfortable dealing simultaneously with all the situations facing them. |
Created by:
monkeydog
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