Term
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Definition
| The trend of the world economy toward becoming a more interdependent system |
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Term
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Definition
| The “shrinking” of time and space as air travel and the electronic media have made it much easier for the people of the globe to communicate with one another. |
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Term
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Definition
| E-commerce is the buying and selling of products and services through computer networks. |
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Term
The Global Economy:
global economy |
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Definition
| the increasing tendency of the economies of the world to interact with one another as one market, instead of many national markets. |
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Term
The Global Economy:
Positive effects |
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Definition
| the world will be far more interconnected leading to better and more affordable products, and better communication among nations |
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Term
The Global Economy:
Negative effects |
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Definition
| The movement, or outsourcing, of formerly well-paying jobs overseas as companies seek cheaper labor costs, particularly in manufacturing. |
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Term
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Definition
| Industries are becoming bigger and cross-global, especially automobiles, telecommunications, and healthcare |
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Term
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Definition
- small companies can get started more easily
- small companies can maneuver faster |
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Term
| Multinational corporation |
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Definition
| Business firm with operations in several countries |
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Term
| Multinational organization |
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Definition
| Nonprofit organization with operations in several countries |
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Term
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Definition
| -Believe that their native country, culture, language, and behavior are superior to all others |
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Term
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Definition
| a narrow view in which people see things solely through their own perspective |
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Term
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Definition
| Take the view that native managers in the foreign offices best understand native personnel and practices, and so the home office should leave them alone |
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Term
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Definition
| Accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective |
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Term
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Definition
| Also called offshoring: using suppliers outside the United States to provide labor, goods, or services |
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Term
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Definition
| A company buys goods outside the country and resells them domestically |
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Term
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Definition
| A company produces goods domestically and sells them outside the country |
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Term
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Definition
| Bartering goods for goods |
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Term
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Definition
| A company allows a foreign company to pay it a fee to make or distribute the firm’s product or service |
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Term
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Definition
| A company allows a foreign company to pay it a fee and a share of the profit in return for using the company’s brand name and a package of materials and services |
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Term
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Definition
| Formed with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country |
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Term
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Definition
| Foreign subsidiary that is totally owned and controlled by an organization |
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Term
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Definition
| a foreign subsidiary that the owning organization has built from scratch |
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Term
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Definition
| Customs duty, or tax, levied mainly on imports |
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Term
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Definition
| Limits on the numbers of a product that can be imported |
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Term
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Definition
| Complete bans on trade between one country and another |
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Term
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Definition
| A trade prohibition on certain types of products or services for a specific reason |
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Term
| World Trade Organization (WTO) |
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Definition
-Designed to monitor and enforce trade agreements
-Agreements based on the General Agreement on Tariffs and Trade (GATT), an international accord first signed by 23 nations in 1947 |
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Term
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Definition
| Today the purpose is to provide low-interest loans to developing nations for improving transportation, education, health, and telecommunications. |
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Term
| International Monetary Fund (IMF) |
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Definition
-Designed to assist in smoothing the flow of
money between nations
-Operates as a last-resort lender that makes short-term loans to countries suffering from unfavorable balance of payments |
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Term
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Definition
| is a group of nations within a geographic region that have agreed to remove trade barriers with one another |
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Term
| NAFTA (North American Free Trade Agreement) |
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Definition
| allows for freer flow of goods, services, and capital among the U.S., Canada, and Mexico |
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Term
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Definition
| 28 “borderless” trading partners in Europe – or 27 with “Brexit” (Britain’s exit) |
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Term
| APEC (Asia-Pacific Economic Cooperation) |
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Definition
| group of 21 Pacific Rim countries, most with a Pacific coastline (U.S., Canada, China |
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Term
| ASEAN (Association of Southeast Asian Nations) |
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Definition
| trading bloc of 10 countries in Southeast Asia |
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Term
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Definition
| largest trading bloc in Latin America |
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Term
| CAFTA (Central America Free Trade Agreement) |
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Definition
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Term
| Trans-Pacific Partnership (TPP) |
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Definition
| Trade agreement among 12 Pacific Rim countries |
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Term
| Most favored nation trading status |
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Definition
| Describes a condition in which a country grants other countries favorable trading treatment such as the reduction of import duties |
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Term
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Definition
| The rate at which the currency of one area or country can be exchanged for the currency of another’s |
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Term
| The five major emerging economies |
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Definition
| Brazil, Russia, India, China, and South Africa |
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Term
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Definition
| Shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people |
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Term
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Definition
| Shared meanings primarily derived from written and spoken words |
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Term
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Definition
| Rely heavily on situational cues for meaning when communicating with others |
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Term
| Other Cultural Variations |
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Definition
Language
Interpersonal space
Communication
Time orientation
Religion
Law and political stability |
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Term
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Definition
| Americans living or working in a foreign country |
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