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Management Finals


Country that imports more than it exports deficit
exchange of goods and services by different countries international trade
restrictions on the quantity of a good that can enter the country quotas
protected classes being involved in the work place diversity
Difference between the value of goods imported and/or exported Trade Balance
Goods and services when sold abroad Exports
Improve decision making Reason for diversity
ability to produce more of a good than another producer with the same quantity of imputs. Absolute Advantage
Stops the flow of exports to or imports from a foreign country. Embargos
Technological--new equipment, new processes Change
Started in 1994 E-commerce
B2B Business to Business
Bans monopolies Sherman Anti-Trust Act
The obligation that individuals or businesses have to help solve social problems. Social Responsibility
Ownership of ideas such as inventions, movies, and computer programs gives creators of it, the exclusive right to market and sell their own work. Intellectual Property
Provides transparency for businesses. Corporate Governance
Differs from culture to culture. Ethical Standards
A set of moral principles or values that govern behavior. Ethics
C2C Consumer to Consumer
Increasing globalization Reason for diversity
Unfreezing, new alternative, refreezing Lewin's Model
Internal--budget adjustments, policy changes, personell changes, and the like Change
Producers should produce the goods they are most efficient at producing and purchase from others the goods they are less efficient at producing Comparative Advantage
Solutions Reason for diversity
Challenges Reason for diversity
Invisible barrier for women and minorities Glass Ceiling
Goods and services purchased abroad Imports
Tax that helps keep domestic products comparative Tariff
Profit Maximization, Trusteeship management, Social Involvement Social Responsibility
Document that outlines the principles of conduct to be used in making decisions within an organization. Codes of Ethics
B2C Business to Consumer
New human resource policy reason for diversity
Environment--outside the organization (laws) Change
3 types of change technological, environmental, internal
Tolerance Reason for diversity
Potential payoff Reason for diversity
Goods and services purchased abroad Imports
Country that exports more than it imports. Surplus
People who are affected by the actions of a business Stakeholders
Created by: Rachelwallace