Shared Flashcard Set

Details

IB 200
Final ch 9
14
Business
Undergraduate 2
05/04/2009

Additional Business Flashcards

 


 

Cards

Term
Advanced (Developed) economies
Definition
Post-industrial countries characterized by high per-capita income, highly competitive industries, and well-developed commercial infrastructure. CANADA, FRANCE, JAPAN, UK, US
Term
Developing (Undeveloped) economies
Definition
Low-income countries characterized by limited industrialization and stagnant economies. BRAZIL, CHINA, INDIA, INDONESIA, TURKEY, RUSSIA, BRIC
Term
Emerging (Developing) markets
Definition
Subset of former developing economies that have achieved substantial industrialization, modernization, and rapid economic growth since the 1980’s. ANGOLA, BOLIVIA, NIGERIA, BANGLADESH, NEPAL, CHAD
Term
Key Differences Between Three Major Groups
Definition
• 150 undeveloped countries compared to 27 and 30 developed/developing
• 62% of world population in developing countries vs. 14% and 24% in un and developed
• 33,000 per capita income in developed, vs. 13,000 in developing and 6,000 in undeveloped
• 48 and 43 % share of GDP in developed/developing vs. 9% undeveloped
• 3,775 mil. population in undeveloped, vs. 1,877 developing and 892 undeveloped
• Telephone lines/ 1000: 1,369 developed, 724 developing, 355 undeveloped
• Computers/ 1000: 517 developed, 191 developing, 39 undeveloped
• Internet users/ 1000: 533 developed, 240 developing, 103 undeveloped
Term
Trade Conditions within Major Country Groups
Definition

 

Developed

Developing

Undeveloped

Industry

Highly dev

Improving

Poor

Competition

Substantial

Moderate

Limited

Trade barriers

Minimal

Liberalizing

Mod to high

Trade volume

High

High

Low

Inward FDI

High

Mod to high

Low

Term

National Characteristics of Major Country Groups

 

Definition

 

Developed

Developing

Undeveloped

Med. Age

38

32

24

Focus

Service, brand

Mnfctring,some srvce

Agricltr, commod

Education

High

Medium

Low

Econ/Polit Freedom

Free

Mod free, mostly not

Mostly repressed

Econ/Polit system

Capitalist

Go to capitalist

Auth, Soc, Comm

Regulations

Minimal

liberalizing

high

Country Risk

Low

Variable

Mod to high

Intell. Prop. Protc.

Strong

Improving

Weak

Infrastructure

Developed

Improving

Inadequate

Term
Transition economies
Definition
– Subset of emerging (developing) markets that have transformed from centrally planned economies into liberalized markets
Term
Nationalization
Definition
a government takeover of not a firm but an entire industry, with or without compensation
Term
Privatization
Definition
Transfer of state-owned industries to private concerns
Term
New global challengers
Definition
Top firms from rapidly developing emerging markets that are fast becoming key contenders in world markets
Term
Outsourcing
Definition
The procurement of selected value-adding activities, including production of intermediate goods or finished products, from independent suppliers
Term
Global sourcing
Definition
The procurement of products and services from foreign locations. Procurement can be from either independent suppliers or company-owned subsidiaries
Term
Family conglomerate
Definition
A large, privately-owned company that is highly diversified
Term
Tenders
Definition
Formal offers made by a buyer to purchase certain products or services
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