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| Performing activities that increase the value of good or services to consumers. |
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| The various value creation activities a firm undertakes |
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| Organizational Architecture |
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| The totality of a firm's organization, including formal organizational structure, control systems and incentives, organizational culture, processes, and people. |
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| The three part structure of an organization, including its formal division into subunits such as product divisions, its location of decision making responsibilities, and the establishment of integrating mechanisms to coordinate the activities of subunits. |
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| The metrics used to measure the performance of subunits and make judgements about how well managers are running those subunits. |
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| The devices used to reward appropriate managerial behavior. |
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| The manner in which decisions are made and work is performed within the organization. |
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| The norms and value systems shared among an organizations employees. |
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| A firm's skills that competitors cannot easily match or imitate |
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| Cost advantages from performing a value creation activity |
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| When different stages of the value chain are dispersed to those locations around the globe where value added is maximized or where costs of value creation are maximized |
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| Systematic production cost reductions that occur over the life of a product. |
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| Entry is early when a firm enters a foreign market before other international firms and late is after |
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| Advantages accruing for being the first in the market. |
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| Disadvantages associated with entering a market before other international businesses. |
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| Cost that early entrant has to bear a later entrant can avoid such as the time and effort in learning the rules, failure due to ignorance, and the liability of being a foreigner. |
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| Sale of products produced in one country to residents of another country. |
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| A project in which a firm agrees to set up an operating plant for a foreign client and hand over the "key" when the plant is fully operational. |
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| Occurs when a firm (the licensor) licenses then rights to produce its product, its production processes, or its brand name or other trademarks to another firm (the licensee) in return for a royalty fee. |
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| A specialized form of licensing in which the franchiser sells intangible property to the franchisee and insists on rules to conduct business. |
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| Establishing a firms that is jointly owned by two or more otherwise independent firms. |
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| A subsidiary in which the firms owns 100% of the stock. |
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| Advantages & Disadvantages of Entry Modes |
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| Japan's great trading houses |
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| Export Management Company |
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| Export specialists who act as the export marketing department for client. |
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| Issued by a bank, indicating that the bank will make payments under specific circumstances. |
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| A document issued to the exporter by the common carrier transporting the merchandise; it serves as a receipt, a contract, and a document of title. |
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| An order written by an exporter instructing and importer, or importers agent, to pay a specified amount of money at a specified time. |
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| A draft payable on presentation to the drawee. |
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| A promise to pay by the accepting party at some future date. |
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| Agency of the U.S. government whose mission it is to provide aid in financing and facilitate exports and imports, also referred to as the Ex-Im Bank |
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| The trade of goods services for other goods or services. |
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| The direct exchange of goods and services between parties without a cash transaction. |
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| a reciprocal buying agreement |
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| a buying agreement similar to a counterpurchase, but the exporting country can then fulfill the agreement with any firm in the country to which the sale is being made. |
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| The use of a specialized third-party trading house in a countertrade arrangement. |
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| When a firm builds a plant in a country and agrees to take a certain percentage of the plants output as partial payment for the contract. |
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| Activities involved in creating a product. |
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| The procurement and physical transmission of material through the supply chain, from suppliers to customers. |
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| Total Quality Management (TQM) |
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| Management philosophy that takes as its central focus the need to improve the quality of a company's products and services. |
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| Statistically based methodology for improving product quality. |
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| Certification process requires certain quality standards must be met. |
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| The level of output at at which most plant-level scale economies are exhausted. |
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| Manufacturing technology designed to improve job scheduling, reduce setup time, and improve quality control. |
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| The production of a variety of end products at a unit cost that could once be achieved only through mass production of a standardized output. |
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| Flexible manufacturing technology in which a grouping of various machine types, a common materials handler, and a centralized cell controller produce a family of products. |
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| The flow of skills and product offerings from foreign subsidiary to home country and from foreign subsidiary and foreign subsidiary. |
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| Whether a firm should make or buy component parts |
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| An asset designed to perform a specific task, whose value is significantly reduced in its next-best use. |
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| Logistics system designed too deliver parts to a production process as they are needed, not before. |
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| Choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeting markets. |
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| Identifying groups of consumers whose purchasing behavior differs from others in important ways. |
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| Concentrated Retail System |
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| A few retailers supply most of the market |
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| many retailers supply a market with no one having a major share. |
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| the number of intermediaries that a product has to go through before it reaches the final consumer. |
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| Exclusive Distribution Channel |
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| A channel that outsiders find difficult to access. |
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| The expertise, competencies, and skills of established retailers in a nation, and their ability to sell and support the products of international business. |
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| When the receiver of the message evaluates the message based on the status or image of the sender. |
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| Country of Origin Effects |
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| The extent to which the place of manufacturing influences product evaluations. |
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| The amount to other messages competing for a potential consumers attention. |
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| A marketing strategy emphasizing personal selling rather than mass media advertising. |
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| A marketing strategy emphasizing mass media advertising as opposed to personal selling. |
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| When a small change in price produces a large change in quantity demanded. |
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| when a small change in price produces only a small change in quantity demanded. |
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| Pricing aimed at giving a company a competitive advantage over its rivals. |
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| Reducing prices below fair market values as a competitive weapon to drive weaker competitors out of the market. |
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| The employees of an organization, its recruiting, compensation, and retention strategies. Also the type of people that work at the organization. |
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