Shared Flashcard Set

Details

MGMT 3001
Chapter 3
25
Management
Undergraduate 4
10/20/2009

Additional Management Flashcards

 


 

Cards

Term
Global outsourcing
Definition
engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country; also called global sourcing
Term
Exporting
Definition
an entry strategy in which the organization maintains its production facilities within its home country and transfers its products for sale in foreign countries
Term
Licensing
Definition
an entry strategy in which an organization in one country makes certain resources available to companies in another to be able to participate in the production and sale of its products abroad
Term
Direct investing
Definition
an entry strategy in which the organization is involved in managing its production facilities in a foreign country
Term
Market entry strategies
Definition
organizational strategies for entering a foreign market
Term
Countertrade
Definition
the barter of products for other products rather than their sale for currency
Term
Franchising
Definition
a form of licensing in which an organization provides its foreign franchisees with a complete package of materials and services
Term
International management
Definition
the management of business operations conducted in more than one country
Term
Infrastructure
Definition
a country’s physical facilities that support economic activities
Term
Exchange rate
Definition
the rate at which on country’s currency is exchanged for another country’s
Term
Political risk
Definition
a company’s risk of loss of assets, earning power, or managerial control as a result of politically based events or actions by host governments
Term
Political instability
Definition
events such as riots, revolutions, or government upheavals that affect the operations of an international company
Term
Power distance
Definition
the degree to which people accept inequality in power among institutions, organizations, and people
Term
Uncertainty avoidance
Definition
a value characterized by people’s intolerance for ambiguity and the resulting support for beliefs that promise certainty and conformity
Term
Individualism
Definition
a preference for a loosely knit social framework in which individuals are expected to take care of themselves
Term
Collectivism
Definition
a preference for a tightly knit social framework in which individuals look after one another, and organizations protect their members’ interests
Term
Masculinity
Definition
a cultural preference for achievement, heroism, assertiveness, work centrality, and material success
Term
Femininity
Definition
a cultural preference for relationships, cooperation, group decision making, and quality of life
Term
Long-term orientation
Definition
a greater concern for the future and high value on thrift and perseverance
Term
Short-term orientation
Definition
a concern with the past and present and a high value on meeting social obligations
Term
Ethnocentrism
Definition
a cultural attitude marked by the tendency to regard one’s own culture as superior to others
Term
Most favored nation
Definition
a term describing a GATT clause that calls for member countries to grant other member countries the most favorable treatment they accord any country concerning imports and exports
Term
Euro
Definition
a single European currency that has replaced the currencies of 12 European nations
Term
Cultural intelligence (CQ)
Definition
a person’s ability to use reasoning and observation skills to interpret unfamiliar gestures and situations and devise appropriate behavioral responses
Term
Culture Shock
Definition
feelings of confusion, disorientation, and anxiety that result from being immersed in a foreign culture
Supporting users have an ad free experience!