IMS 3310 Chapter 1 Terms
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| International Business (IB) | (1) A business (or firm) that engages in international (cross-border) economic activities or (2) the action of doing business abroad.
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| Multinational Enterprise (MNE) | A firm that engages in foreign direct investment and operates in multiple countries.
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| Foreign Direct Investment (FDI) | Investment in, controlling, and managing value-added activities in other countries.
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| Global Business | Business around the globe.
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| Emerging Economy (or Emerging Market) | A developing country.
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| Group of 20 (G-20) | The group of 19 major countries plus the European Union (EU) whose leaders meet on a regular basis to solve global economic problems.
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| Gross Domestic Product (GDP) | The sum of value added by resident firms, households, and governments in an economy.
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| Purchasing Power Parity (PPP) | A conversion that determines the equivalent amount of goods and services different currencies can purchase. This conversion is usually used to capture the differences in cost of living in different countries.
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| Triad | Three regions of developed economies (North America, Western Europe, and Japan.)
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| Base of the Pyramid | The vast majority of humanity, about five billion people, who make less than $2,000 a year on a per capita basis.
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| Expatriate Manager (Expat) | A manager who works outside his or her native country.
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| International Premium | A significant pay raise commanded by expatriates when working overseas.
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| Institution-Based View | A leading perspective in global business that suggests that firm performance is, at least in part, determined by the institutional frameworks governing firm behavior around the world.
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| Institutions | Formal and informal rules of the game
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| Institutional Framework | Formal and informal institutions that govern individual and firm behavior.
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| Formal Institutions | Institutions such as laws regulations, and rules.
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| Informal Institutions | Institutions such as norms, cultures, and ethics.
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| Resource-Based View | A leading perspective in global business that suggests that firm performance is, at least in part, determined by its internal resources and capabilities.
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| Liability of Foreignness | The inherent disadvantage that foreign firms experience in host countries because of their non-native status.
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| Globalization | The close integration of countries and peoples of the world.
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| BRIC | A newly coined acronym for the emerging economies of Brazil, Russia, India, and China.
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| Risk Management | The identification and assessment of risks and the preparation to minimize the impact of high-risk, unfortunate events.
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| Scenario Planning | A technique to prepare and plan for multiple scenarios (either high or low risk).
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| Semiglobalization | A perspective that suggests that barriers to market integration at borders are high but not high enough to completely insulate countries from each other.
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| Nongovernmental Organizations (NGOs) | Organizations that are not affiliated with governments. Such organizations include environmentalist groups, human rights activists, and consumer groups.
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Or sort by any of the columns using the down arrow next to any column heading.
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