Shared Flashcard Set

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IB 200
Final ch 3
19
Business
Undergraduate 2
05/04/2009

Additional Business Flashcards

 


 

Cards

Term
Focal firm
Definition
The initiator of an international business transaction, including MNEs and SMEs, that conceives, designs, and produces the offerings intended for consumption by customers worldwide
Term
Distribution channel intermediary
Definition
A specialist firm that provides a variety of logistics and marketing services for focal firms as part of the international supply chain, both in the home country and abroad
Term
Facilitator
Definition
A firm or an individual with special expertise in legal advice, banking, customs clearance, or related support services, that assists focal firms in the performance of international business transactions
Term
Freight forwarder
Definition
A specialized logistics service provider that arranges international shipping on behalf of exporting firms, much like a travel agent for cargo
Term
MNE
Definition
large company with substantial resources that performs various business activities through the network of subsidiaries and affiliates located in multiple countries
Term
SME
Definition
a company with 500 or fewer employees in the US - comprise majority of firms active in international business
Term
born global firm
Definition
a young entepreneurial company that initiates international business activity very early in its evolution, moving rapidly into foreign markets
Term
Licensor
Definition
A firm that enters a contractual agreement with a foreign partner that allows the latter the right to use certain intellectual property for a specified period of time in exchange for royalties or other compensation
Term
Franchisor
Definition
A firm that grants another the right to use an entire business system in exchange for fees, royalties, or other forms of compensation
Term
Turnkey contractors
Definition
Focal firms or a consortium of firms that plan, finance, organize, manage, and implement all phases of a project and then hand it over to a foreign customer after training local personnel
Term
Joint venture partner
Definition
A focal firm that creates and jointly owns a new legal entity through equity investment or pooling of assets
Term
Project-based, nonequity venture partners
Definition
Focal firms that collaborate through a project, with a relatively narrow scope and a well-defined timetable, without creating a new legal entity
Term
Foreign distributor
Definition
A foreign market-based intermediary that works under contract for an exporter, takes title to, and distributes the exporter’s products in a national market or territory, often performing marketing functions such as sales, promotion, and after-sales service
Term
Agent
Definition
An intermediary (often an individual or a small firm) that handles orders to buy and sell commodities, products, and services in international business transactions for a commission
Term
Manufacturer’s representative
Definition
An intermediary contracted by the exporter to represent and sell its merchandise or services in a designated country or territory.
Term
Trading company
Definition
An intermediary that engages in import and export of a variety of commodities, products, and services
Term
Export management company (EMC)
Definition
An intermediary that acts as export agent on behalf of (usually inexperienced) a client company
Term
Logistics service provider
Definition
A transportation specialist that arranges for physical distribution and storage of products on behalf of focal firms, also controlling information between the point of origin and the point of consumption
Term
Customs brokers
Definition
Specialist enterprises that arrange clearance of products through customs on behalf of importing firms
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