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| International Monetary Fund - stabilizes foreign exchange rates and establishes freely convertible currencies to facilitate expansion and balanced growth of international trade |
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| Why nations fear globalization |
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| Environmental concern, worker exploitation, domestic job losses, cultural extinction, higher oil prices, and diminished sovereignty of nations. |
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| American belief that they were a chosen people ordained by God to create a model society. Refers to territorial expansion of the United States from the Atlantic to the Pacific. |
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| A cornerstone of US foreign policy, contained three elements - no further European colonization in the New World, US stays out of European political affairs, and nonintervention of European governments in the governments in the Western Hemisphere |
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| True of False: The disposal of hazardous waste is as big an issue as controlling industrial wastes? |
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| True or False: The US will need 600 million immigrants between now and 2050? |
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| True or False: The internet holds the biggest changes for our future in terms of marketing? |
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| Customs that must be recognized and accommodated |
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| Customs to which adaptation is helpful, but not necessary |
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| Customs in which an outsider must not participate |
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| "Master of Destiny" philosophy |
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Definition
| Fundamental to US management thought. Simply stated, people can substantially influence the future, they are in control of their own destinies |
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| Voluntarily offered payment by someone seeking unlawful advantages |
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| If payments are extracted under duress by someone in authority from a person seeking only what they are lawfully entitled to |
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| Involves giving large sums of money - frequently not properly accounted for - designed to entice an official to commit an illegal act on behalf of the one offering the bribe |
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| Involves a relatively small sum of cash, a gift or a service given to a low ranking official in a country where such offerings are not prohibited by law |
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| An agent if often hired to do business in unfamiliar countries. But if part of their fees goes toward bribes this is considered to be unlawful |
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| The most sever political risk. Seizing of a companies assets without payment |
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| Government seizes an investment but some reimbursement for assets is made |
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| Host countries gradually cause the transfer of foreign investment to national control and ownership through a series of government decrees by mandating local ownership and greater national involvement in a companies management |
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Definition
| When a nation faces shortages of roreign exchange or there is a substantial amount of capital leaving the country, controls may be levied over all movements of capital, or selectively against the most politically vulnerable companies to conserve the supply of foreign exchange for the most essential uses. |
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| When countries require a portion of any product sold within its country to have some local content, that is, to contain locally made parts. |
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| Restrictions on the import of raw materials, machines and spare parts to force foreign companies to purchase from local industries. |
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| When taxes are raised on imports without warning and normally against an agreement. Popular choice for third world countries as a means of making money off foreign companies |
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| True of False: There is no reason to expect that terrorists will increasingly target businesses |
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| Found in England, the United States, and Canada. Based on tradition, past practices and legal precedents. |
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| Based on an all-inclusive system of written rules of law. |
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| Based on the interpretation of the Koran. It encompasses religious duties and obligations as well as the secular aspect of law regulating human acts. Defines a complete system that prescribes specific patterns of social and economic decision making, and types of economic freedom. |
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| True or false: A judicial body exists to deal with legal commercial problems arising between citizens of different countries |
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Definition
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| Nonbinding agreement between parties to resolve disputes by asking a thurd party to mediate differences |
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| When all else fails this is the preferred method for resolving international commercial disputes |
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| The final step to solve a dispute |
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| The basic difference between domestic and foreign market research |
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Definition
| In domestic operations, most emphasis is placed on specific market information being used to make product, promotion, distribution and price decisions and to develop marketing plans |
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Term
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Definition
1. Define the problem and state objectives
2. Determine sources of info to fulfill objectives
3. CBA
4. Gather relevant data
5. Analyze data
6. Communicate results to decision makers |
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Definition
| The questionnaire is translated from one language to another and then a second party translates it back into the original. |
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| More than two translators are used for the back translation the results are compared, differences discussed, and the most appropriate translation is selected |
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| Successive process of translation and retranslation of a questionnaire, each time by a different translator. |
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| An arrangement between two or more countries to reduce or eliminate customs duties and nontariff trade barriers among partner countries while members maintain individual tariff schedules for external countries. |
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| Like free trade area but adds a common external tariff on products imported from countries outside the union |
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| Eliminates all tariffs and other restrictions on international trade |
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Definition
| Complete political and economic integration |
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| Commonwealth of independent states |
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Definition
| USSR formed into this after it was divided up |
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