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International Management
Exam 2 term
63
Management
Undergraduate 4
06/01/2008

Additional Management Flashcards

 


 

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Term
Enterprise union
Definition
A union which was created by and for the exclusive representation of employees from a single enterprise or company.
Term
Export department model
Definition
a domestic model, this model uses a separate department within the home company’s headquarters that is assigned specific responsibility for overseas transactions.
Term
Global area design
Definition
organizes a firm by geographic region. Regional headquarters are established in various parts of the world, and each headquarters is responsible for all products sold and distributed in that region.
Term
Global customer design
Definition
a unique design that tailors a firms organization to meet the needs of specialized global customers.
Term
Global functional design
Definition
typically used by companies that have relatively narrow product lines that are easily transferred around the world.  Each functional department within a company created departments or divisions in various regions of the world.
Term
Global matrix design
Definition
-  The most complex international organization design. It represents a blend of two of the above global designs working in tandem (e.g. integrating a global functional design with a global product design)
Term
Global product design
Definition
the most common global organization design. In this design, worldwide responsibility for specific product groups is assigned to separate operating divisions within the firm. 
Term
Horizontal keiretsu
Definition
consists of a group of interlocking companies typically clustered around a lead manufacturer. 
Term
International division model
Definition
export departments are usually located in corporate headquarters in the home country, international divisions are most often located overseas near the firm’s principal global markets. Local managers are hired, again to get close to principal customers and markets, and to provide a worldview for headquarters on future business opportunities abroad.
Term
Keiretsu
Definition
large Japanese companies typically consist of clusters of sister companies that actively help one another in both good times and bad. 
Term
Nemawashi
Definition
the word is derived from description of the process of preparing the roots of a tree for planting. The concept here is that if the roots are properly prepared, the tree will survive and prosper. Similarly, if a proposal is properly prepared, it, too should survive and prosper. 
Term
Ringi-sei system
Definition
Circle of discussion. Consists or two parts. The Nemawashi, or general discussions and putting out feelers, and ringi-sho, or putting forth a specific written proposal for discussion, modification, and approval.  Tends to result in slow decisions, often a disadvantage in a fast-paced competitive global business environment. 
Term
Quality circle
Definition
small groups of workers who spend time (frequently their own) trying to improve operational procedures or product quality in their own area.
Term
Vertical keiretsu
Definition
consists of a major company surrounded by a large number of smaller firms that act as either suppliers or distributors for the big firm. 
Term
Brownfield strategy
Definition

a form of foreign direct investment in which a company acquires an existing factory or facility in a foreign country and then modernizes or rebuilds the facility for a new business.

Term
B-O-T project
Definition

a type of turnkey project, occurs when a firm builds a facility, operates it for some time, and then transfers ownership of the facility to another party.

Term
Contract manufacturing
Definition

when a firm manufactures components or products for another "hiring" firm

Term
Export management company
Definition
act like export departments for firms and are specialized in handling all the intricacies of cross-national trading
Term
Foreign direct investment
Definition
- occurs when a firm wants to secure an ownership stake in a foreign enterprise.
Term
Franchising
Definition
a special form of licensing that allows the franchisor greater control over how the product is used or marketed. 
Term
Freight forwarder
Definition
private companies that specialize in transporting the goods, arranging customs documentation, and getting transportation services for their clients. 
Term
Greenfield strategy
Definition
a form of investment in which a company designs and builds a new factory from scratch , starting with nothing but a “green field.”
Term
Licensing
Definition
occurs when a company leases the use of its intellectual property rights to local companies for a fee.
Term
Screwdriver plant
Definition
when a factory is built using and only final assembly of parts is undertaken. Little transformation of the product occurs at these types of plants.  Ex. A maquiladora
Term
Trading company
Definition
do similar tasks as export manufacturing companies, but for larger companies, especially major Japanese keiretsu’s
Term
Turnkey project
Definition
where one company designs builds and equips an entire factory or production system and then turns it over to the purchaser for a predetermined price.
Term
Equity alliance
Definition

are agreements between two or more firms where the parties have a  financial stake and assume an ownership interest in the success of the venture.

Term
Non-equity alliance
Definition
an investment vehicle  used by two ore more firms when responsibilities and profits are assigned to each party according to a contract
Term
NUMMI
Definition
stands for New United Motor Manufacturing, Inc. A joint venture between Toyota and GM to jointly produce compact cars. Toyota learned more about American markets and labor relations. While GM learned useful skills in improved manufacturing.
Term
Shared management arrangement
Definition

where all partners to the venture actively participate in the management of the alliance.

Term
Culture shock
Definition
a feeling of distress in response to immersing oneself in a new environment
Term
Ethnocentric staffing model
Definition

it emphasizes the use of home-country nationala to staff most if not all of the senior managerial positions throughout a firm’s global operations.

Term
Expatriate
Definition

employees who come from a different country than the one in which they are working.

Term
Global staffing model
Definition

it strives to hire the best person for the job regardless of where he or she comes from

Term
Home country national:
Definition
citizens of the country where the company is headquarter who are assigned to one of its foreign operations
Term
Host country national
Definition
residents of the host country where the company has its local operations.
Term
Inpatriate
Definition
the opposite of expatriates, they are either host-country nationals or third-country who are assigned to work in the company’s home country to gain critical work experience
Term
Polycentric staffing model
Definition

it emphasizes the use of host-country nationals in managing overseas operations in the belief that local managers can be more effective in negotiating the labyrinth of local customs, laws, traditions, and political intrigues necessary to make the local venture succeed.

Term
Regiocentric staffing model
Definition
It’s a variation on the polycentric model, in which multinational firms organize their HRM policies and staffing criteria by geographic region instead of by a particular country within that region.
Term
Repatriation
Definition
refers to the process of returning expatriates to their home countries.  
Term
Third country national
Definition
employees of a firm who are citizens of neither the country where the firm is headquartered nor the foreign operations where they are assigned.
Term
Free rider effect
Definition

: a product of social loafing, when one person slacks and someone else picks up for them.

Term
Social Loafing
Definition
when group members restrict output in the belief that others will take up the slack.  Harms high-performance.  More common in individualistic countries than collectivist countries. 
Term
Benchmarking
Definition
the process of studying how other firms do something and then imitating or improving on this process. It establishes a standard against which to compare one’s own company’s products or services.
Term
Codetermination
Definition
this system is based on the belief that both shareholders and employees have a right to influence company policies, and that profit maximization must be tempered with concern for social welfare. About ½ to 1/3 of a supervisory board are elected by employees.
Term
ISO 9000
Definition
Guidelines that provide a commonly acceptable basis for quality certification that has become increasingly important in international business.
Term
Management board
Definition
It consists of the top management team of the firm and is responsible for its actual strategic and operational management.
Term
Meister
Definition
master technician.
Term
 Mittelstand business strategies
Definition
They are small and medium sized firms and are Germany’s main strength in the economy. First, the companies focus on high cost markets and high quality markets. They then compete on customer satisfaction, not profit maximization. Hire best not cheapest employees (Technik), who also have a lot of power in their firms.
Term
Participation rights
Definition
one half of the rights granted to the works council and is the right to be consulted on management decisions.
Term
Process simplification
Definition
finding easier, more efficient ways to manufacture something
Term
Self-managing teams
Definition
they exist when managers designate a whole project or work process to a team of employees and then allow the team to determine how best to design and implement the assigned task
Term
Statistical Process control
Definition
 the application of mathematics to quality control where targeted numeric levels of quality are established and then factory managers monitor production to ensure that these targets are met.
Term
Supervisory board
Definition
the top of a German firm. It is responsible for ensuring that the principal corporate objectives are met over the long term. Its members are elected every five years and can only be changed by a vote of 75% or more of the voting shares.
Term
Technik
Definition
this term describes the knowledge and skills required for work. It is the science and art of manufacturing high-quality and technologically advanced products. (huge in Germany)
Term
Total quality management (TQM
Definition
it is a way of thinking and it represents the central theme underlying most german companies as competitive entities. German engineering prowess remains a global standard that many companies envy.
Term
Works council
Definition
they typically have no rights in the economic management of the firm but have considerable influence hi HRM policies and practices. Their principal task is to ensure that companies follow regulations that exist for the benefit of their employees
Term
Cadre
Definition
French managers, there is a large class distinction between these managers and workers.
Term
Grandes ecoles
Definition
a small set of elite polytechnic universities
Term
Monochronic
Definition
people who tend to stress a high degree of scheduling in their lives, concentration on one activity at a time, and elaborate codes of behavior built around promptness in meeting obligations and appointments.
Term
Polychronic
Definition
most French fall into this category, stressing human relationships and social interaction over arbitrary schedules and appointments and engaging in several activities simultaneously with frequent interruptions. To the French, the journey is probably more important than the decision
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