Shared Flashcard Set

Details

Management Chapters
Chapter 8
21
Management
Undergraduate 2
10/13/2010

Additional Management Flashcards

 


 

Cards

Term
Global Business
Definition
the buying and selling of goods and services by people from different countries
Term
Multinational Corporation
Definition
a corporation that owns businesses in two or more countries
Term
Direct Foreign Investment
Definition
A method of investment in which a company builds a new business or buys an existing business in a foreign country
Term
Trade Barriers
Definition
government-imposed regulations that increase the cost and restrict the number of imported goods
Term
Protectionism
Definition
a government's use of trade barriers to shield domestic companies and their workers from foreign competition
Term
Tariff
Definition
a direct tax on imported goods
Term
Non-tariff Barriers
Definition
non-tax methods of increasing the cost or reducing the volume of imported goods
Term
Quota
Definition
a limit on the number or volume of imported products
Term
Voluntary export restraints
Definition
voluntarily imposed limits on the number or volume of products exported to a particular country
Term
Government import standard
Definition
a standard ostensibly established to protect the health and safety of citizens but, in reality, often used to restrict or ban imports
Term
Subsidies
Definition
government loans, grants, and tax deferments given to domestic companies to protect them from foreign competition
Term
Customs Classifications
Definition
a classification assigned to imported products by government officials that affects the size of the tariff and imposition of import quotas
Term
General Agreement on Tariffs and Trade(GATT)
Definition
a worldwide trade agreement that reduced and eliminated tariffs, limited government subsidies, and established protections for intellectual property
Term
World Trade Organization (WTO)
Definition
as the sucessor to GATT, the only international organization dealing with the global rules of trade between nations
Term
Regional Trading Zones
Definition
areas in which tariff and non-tariff barriers on trade between countries are reduced or eliminated
Term
Masstricht Treaty of Europe
Definition
a regional trade agreement between most European Countries
Term
North American Free Trade Agreement (NAFTA)
Definition
a regional trade agreement between the U.S, Canada, and Mexico
Term
Global Consistency
Definition
when a multi-national company has offices, manufacturing plants, and distribution facilities in different countries and runs them all using the same rules, guidelines, policies, and procedures
Term
Local Adaption
Definition
when a multi-national company modifies its rules, guidelines, policies, and procedures to adapt to differences in foreign customers, governments, and regulatory agencies
Term
Exporting
Definition
selling domestically produced products to customers in foreign countries
Term
Cooperative Contract
Definition
an agreement in which a foreign business owner pays a company a fee for the right to conduct that business in his or her country
Supporting users have an ad free experience!