Term
| international business (def.) |
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Definition
| performance of business activities across national boundaries |
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Term
| international management (def.) |
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Definition
| performance of the management process in an international business setting |
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Term
| multinational company (MNC, def.) |
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Definition
| an organization conducting business in two or more countries |
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Term
| global corporation (def.) |
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Definition
| a corporation operating as if the world were a single market, with corporate headquarters, manufacturing facilities, and marketing operations throughout the world |
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Term
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Definition
| selling of domestic goods to a foreign country |
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Term
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Definition
| an agreement through which one firm (the licensor) allows another firm (the licensee) to sell the licensor's product and use its brand name |
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Term
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Definition
| a link between buyers and sellers in different countries |
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Term
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Definition
| complex bartering agreements between two or more parties |
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Term
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Definition
| a partnership between a domestic firm and a firm in a foreign country |
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Term
| strategic alliance (def.) |
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Definition
| a combination of two firms' resources in a partnership that goes beyond the limits of a joint venture |
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Term
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Definition
| purchasing of one or more business operations in a foreign country |
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Term
| cultural diversity (def.) |
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Definition
| differences both within and between cultures |
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Term
| standard of living (def.) |
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Definition
| Gross National Product per capita, which takes into account a nation's GNP in relation to its population |
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Term
| Gross Domestic Product (GDP) (def.) |
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Definition
| measures the purely domestic output of a country |
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Term
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Definition
| a measure of a nation's standard of living |
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Term
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Definition
| communications, transportation, and energy facilities that mobile the country and also indicate its economic condition |
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Term
| types of organizations in the global economy (list) |
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Definition
multinational company (MNC)
global corporation
export companies
licensees
trading companies
bartering (countertrading)
joint ventures
strategic alliance
direct ownership |
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Term
| environment for global business (list) |
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Definition
cultural environment
economic environment
political-legal environment
technological environment |
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Term
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Definition
| a limit to the amount of a product that can leave or enter a country |
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Term
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Definition
| a prohibition of the import or export of certain goods |
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Term
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Definition
| a tax on an import or export |
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Term
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Definition
| a limit on how much profit a foreign-based firm can return to its home country |
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Term
| customs and entry procedures (def.) |
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Definition
| inspection, documentation, and licensing of foods entering a country |
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Term
| US laws affecting international business (list) |
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Definition
Webb-Pomerene Export Trade Act (1918)
Foreign Corrupt Practices Act (1977)
Export Trading Companies Act (1982) |
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Term
| Webb-Pomerene Export Trade Act (def.) |
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Definition
| Exempts US firms from antitrust laws if they are acting together to develop international trade |
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Term
| Foreign Corrupt Practices Act (def.) |
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Definition
| Forbids bribing foreign officials to obtain sales for American firms |
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Term
| Export Trading Companies Act (def.) |
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Definition
| Encourages the formation of export trading companies by eliminating antitrust barriers and allowing banks to participate in such ventures. |
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Term
| International Monetary Fund (IMF, def.) |
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Definition
| Founded in 1944, it promotes cooperation among member nations by eliminating trade barriers. |
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Term
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Definition
| Formed in 1946, it lends money to underdeveloped and developing countries for various projects. |
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Term
| multinational market group (def.) |
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Definition
| an agreement by two or more countries to reduce trade and tariff barriers between them |
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Term
| Free Trade Agreement (FTA, def.) |
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Definition
| agreement between US and Canada, making the largest free trade zone in the world |
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Term
| North American Free Trade Agreement (NAFTA, def.) |
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Definition
| 3-nation alliance of US, Canada, and Mexico |
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Term
| total quality management (TQM, def.) |
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Definition
| a management approach to long-term success through customer satisfaction, based on the participation of all members of an organization in improving processes, products, service, and the culture in which they work |
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Term
| global challenges facing firms (list) |
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Definition
quality challenge
competitiveness challenge |
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Term
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Definition
| the continuous process of measuring a firm's goods, practices, and services against those of its toughest competitors and leading firms in other industries |
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