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D080
Unit 2 - modules 1-4
| Term | Definition |
|---|---|
| Globalization | Worldwide interconnection in virtually every sphere of activity including the spread of products, technology, information. and job opportunities. Globalization can result in blurred boundaries between nations, organizations, and investors. |
| Capital | Financial assets such as fund but also equipment, facilities, and other means of production |
| Trade | The action of buying and selling goods and services |
| outsource | To obtain goods or services from an outside or foreign supplier |
| patents | protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions |
| Copyrights | A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period of time |
| Trademarks | Protection for any word, name, symbol, device or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others |
| assets | A useful or valuable thing; something you own such as building, inventory or cash |
| liabilities | being responsible for a debt or financial obligation, something you owe |
| financial instrument | a monetary contract between parties |
| multinational firms | A large corporation incorporated in one country which produces or sells goods or services in various countries |
| Five states of becoming a global company | Market Entry; Product Specialization; Value Chain Disaggregation; Value Chain Reengineering; Creation of New Markets |
| supply chain | The sequence of processes involved in the production and distribution of a commodity |
| Four Industry globalization drivers | Market opportunities, Cost, Competition and Goverment |
| Economies of scale | a proportionate savings in cost gained by an increased level of production |
| scope | to develop efficiencies in terms of variety not volume |
| Six Sigma | A method that provides tools for organizations to increase performance and decrease process variation |
| Globalization 1.0 | The lease desirable level of globalization to deal with due to a lack of transportation and technology options |
| Globalization 2.0 | The stage of globalization leads to more access to delivering goods on a worldwide platform due to advances in transportation |
| Globalization 3.0 | The most desirable level of globalization due to advances in technology and communication, making global interactions and transactions smoother |
| Gini coefficient | measures the inequality among values of a frequency distribution such as levels of inccome |
| Happy Planet Index | measures how well nations are doing at achieving long, happy, sustainable lives |
| Globalization | Worldwide interconnection in virtually every sphere of activity including the spread of products, technology, information. and job opportunities. Globalization can result in blurred boundaries between nations, organizations, and investors. |
| Capital | Financial assets such as fund but also equipment, facilities, and other means of production |
| Trade | The action of buying and selling goods and services |
| outsource | To obtain goods or services from an outside or foreign supplier |
| patents | protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions |
| Copyrights | A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period of time |
| Trademarks | Protection for any word, name, symbol, device or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others |
| assets | A useful or valuable thing; something you own such as building, inventory or cash |
| liabilities | being responsible for a debt or financial obligation, something you owe |
| financial instrument | a monetary contract between parties |
| multinational firms | A large corporation incorporated in one country which produces or sells goods or services in various countries |
| Five states of becoming a global company | Market Entry; Product Specialization; Value Chain Disaggregation; Value Chain Reengineering; Creation of New Markets |
| supply chain | The sequence of processes involved in the production and distribution of a commodity |
| Four Industry globalization drivers | Market opportunities, Cost, Competition and Goverment |
| Economies of scale | a proportionate savings in cost gained by an increased level of production |
| scope | to develop efficiencies in terms of variety not volume |
| Six Sigma | A method that provides tools for organizations to increase performance and decrease process variation |
| Globalization 1.0 | The lease desirable level of globalization to deal with due to a lack of transportation and technology options |
| Globalization 2.0 | The stage of globalization leads to more access to delivering goods on a worldwide platform due to advances in transportation |
| Globalization 3.0 | The most desirable level of globalization due to advances in technology and communication, making global interactions and transactions smoother |
| Gini coefficient | measures the inequality among values of a frequency distribution such as levels of inccome |
| Happy Planet Index | measures how well nations are doing at achieving long, happy, sustainable lives |
| Monarchy | A single period rules until he or she dies or abdicates the throne. Power can vary by type: absolute, constitutional or mix of both |
| Oligarchy | A small. elite group holds power. Status not achieved through noble ancestry |
| Dictatorship | A single person (or a very small group of people) holds power. Wields complete and absolute authority over a government and population |
| Democracy | Citizens organize political parties and elect leaders. Leaders power organized through constitution and terms limits |
| Anarchism | individuals control political activities, and the government has no control over these activities |
| gross domestic product (GDP) | The total value of goods and services provides in a country in a one year period |
| gross national product (GNP) | the total value of goods and services provided by a country, both inside and outside of its borders, in a one year period |
| underground economies | economic transactions that are deemed illegal |
| traditional economies | are found in rural countries the primary occupation is farming |
| command economy | found in a communist country, most of the economic system is controlled by a centralized power |
| planned economy | found in a socialist country, factors of production are used for common good |
| open economy | democratic method, used to determine how to use the factors of production |
| market economy | decentralized economy in which firms and households determine how resources are allocated based on how to best satisfy their needs |
| mixed economy | has less government intervention than a command economy Supply and demand control the economy, and ideally, the government steps in when needed |
| civil law | countries have more detailed, prescriptive laws in which the tole of the judge is to investigate where a law has been broken |
| common law | based on precedence. Any activity that is not clearly illegal ay be acceptable, The role of the judge is hear arguments from both parties and make judgement. This judgement stands as precedent for future cases |
| Religious law | law based on religious beliefs. One example is a requirement in Sharia that people following Sharia may not borrow money. To compensate for their inability to take on debt, an asset-based system has been established |
| Globalization | has economic, political and cultural effects |
| Globalization | characterized by an increasing number of worldwide connections, rapid and discontinuous change, an increasing number of diverse participants, and growing complexity |
| Culture Globaliation | transmissions of ideas, meaning and value around the world in such a way that extends and intensifies social relations |
| nongovernmental organizations (NGOs) | Not for profit organization that are independent of the government and are active in humanitarian cause |
Created by:
mmedearis
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