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Chapter 8
MAN 320F
27
Management
Undergraduate 3
06/15/2014

Additional Management Flashcards

 


 

Cards

Term
Global Business
Definition
the buying and selling of goods and services by people from different countries
Term
Multinational Corporation
Definition
a corporation that owns businesses in two or more countries
Term
Direct Foreign Investment
Definition
a method of investment in which a company builds a new business or buys an existing business in a foreign country
Term
Trade Barriers
Definition
government-imposed regulations that increase the cost and restrict the number of imported goods
Term
Protectionism
Definition
a government's use of trade barriers to shield domestic companies and their workers from foreign competition
Term
Tariff
Definition
a direct tax on imported goods
Term
Nontariff barriers
Definition
nontax methods of increasing the cost or reducing the volume of imported goods
Term
Quota
Definition
a limit on the number or volume of imported products
Term
Voluntary Export Restraints
Definition
voluntarily imposed limits on the number or volume of products exported to a particular country
Term
Government Import Standard
Definition
a standard ostensibly established to protect the health and safety of citizens but, in reality, often used to restrict imports
Term
Subsidies
Definition
government loans, grants and tax deferments given to domestic companies to protect them from foreign competition
Term
Customs Classification
Definition
a classification assigned to imported products by government officials that affects the size of the tariff and the imposition of import quotas
Term
General Agreement on Tariffs and Trade (GATT)
Definition
a worldwide trade agreement that reduced and eliminated tariffs, limited government subsidies and established protections for intellectual property
Term
World Trade Organization (WTO)
Definition

the successor to GATT; the only international organization dealing with the global rules of trade between nations

 

its main function is to ensure that trade flows as smoothly, predictably adn freely as possible

Term
Regional Trading Zones
Definition
areas in which tariff and nontariff barriers on trade between countries are reduced or eliminated
Term
Maastrict Treat of Europe
Definition

a regional trade agreement between most European countries

 

Term
North American Free Trade Agreement (NAFTA)
Definition
a regional trade agreement between the US, Canada and Mexico
Term
Global Consistency
Definition
when a multinational company has offices, manufacturing plants, and distribution facilities in different countries and runs them all using the same rules, guidelines, policies and procedures
Term
Local Adaptation
Definition
modifying rules, guidelines, policies and procedures to adapt to differences in foreign customers, governments, and regulatory agencies
Term
Exporting
Definition
selling domestically produced products to customers in foreign countries
Term
Cooperative Contract
Definition
an agreement in which a foreign business owner pays a company a fee for the right to conduct that business in his or her country
Term
Licensing
Definition
an agreement in which a domestic company, the licensor, receives royalty payments for allowing another company, the licensee, to produce the licensor's product, sell its service, or use its brand name in a specified foreign market
Term
Franchise
Definition
a collection of networked firms in which the manufacturer or marketer of a product or service, the franchisor, licenses the entire business to another person or organization, the franchise
Term
Strategic Alliance
Definition
an agreement in which companies combine key resources, costs, risk, technology an dpeople
Term
Joint Venture
Definition
a strategic alliance in which two existing companies collaborate to form a third, independent company
Term
Wholly Owned Affiliates
Definition
foreign offices, facilities, and manufacturing plants that are 100% owned by the parent company
Term
Global New Ventures
Definition
new companies that are founded with an active global strategy and have sales, employees, and financing in different countries
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