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IB- Chap 4
International Business terminologies
22
Business
Post-Graduate
01/09/2014

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Term
Resource-based view
Definition
A leading perceptive in global business that posits that firm performance is fundamentally driven by firm-specific resources
Term
Primary resources
Definition
The tangible and intangible assets as well as human resources that a firm uses to choose and implement its strategies
Term
Capability
Definition
Firm-specific abilities to use resources to achieve organisational objectives
Term
Tangible assets
Definition
Assets that are observable and easily quantified
Term
Intangible assets
Definition
Assets that are hard to observe and difficult( or sometimes impossible) to quantify
Term
Human resources
Definition
Resources embedded in individuals working in an organisation.
Term
Organisational culture
Definition
Employees' shared values, traditions and social norms within an organisation
Term
Value chain
Definition
A chain of activities vertically related in the production of goods and services
Term
VRIO framework
Definition
The resource-based framework that focus on the value creation,rarity,imitability and organisational aspect of resources
Term
Casual ambiguity
Definition
The difficulty of identifying the casual determinants of successful firm performance.
Term
Social complexity
Definition
The socially complex way of organising typical of many firm
Term
Appropriability
Definition
The ability of the firm to appropriate the values for itself
Term
Benchmarking
Definition
An examination of resources to perform a particular activity compared against competitors
Term
Outsourcing
Definition
Turning over an organisational activity to an outside supplier that will perform it on behalf of the firm.
Term
Offshoring
Definition
Move an activity to a location abroad
Term
Offshore outsourcing
Definition
Outsourcing to another firm doing the activity abroad
Term
Domestic outsourcing
Definition
Outsourcing to a firm in the same country
Term
Captive offshoring
Definition
Setting up subsidiaries abroad- the work done in-house but the location is foreign
Term
Nearshoring
Definition
Offshore to a nearby location eg. within EU
Term
Original equipment manufacturer(OEM)
Definition
A firm that executes the designs blueprints provided by other firms and manufactures such products
Term
Original design manufacturers(ODM)
Definition
A firm that both designs and manufactures products
Term
Original brand manufacturers(OBM)
Definition
A firm that designs, manufactures and market branded products
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