Global Trade
To send goods or products to another country for sale.
Export
The global currency that is most widely used in international business and trade transactions.
US Dollar
Giving another company permission to use your brand name, logo, or business model in exchange for a fee.
Franchising
The shared values, beliefs, customs, and behaviors of a group of people or a nation.
Culture
Dishonest or illegal behavior by powerful people or corporations, such as bribery.
Corruption
To buy and bring goods or products into your own country from abroad.
Import
The value of one country's currency compared to another country's currency.
Exchange rate
A business arrangement where two or more companies agree to pool their resources for a specific global project.
Joint venture
A language that is adopted as a common language between speakers whose native languages are different (e.g., English in business).
Lingua franca
A sudden shortage or disruption in the global network that delivers products from suppliers to customers.
Supply chain crisis
A tax or duty that a government charges on goods coming in from other countries.
Tariff
When a company invests money directly into businesses or factories located in another country.
Foreign Direct Investment
Moving a business process, like manufacturing or customer support, to another country to cut costs.
Outsourcing
The feeling of confusion or insecurity that someone experiences when doing business in an unfamiliar foreign environment.
Culture shock
A situation where big corporations compete unfairly or create a monopoly, stopping smaller businesses from growing.
Market dominance
A situation where a country exports more than it imports, creating a positive economic balance.
Trade surplus
A general and progressive increase in prices of goods and services across the world, reducing the purchasing power of money.
Inflation
When two global companies combine into one single company, or when one company buys another.
Merger and Acquisition
The specific rules of correct and polite behavior in professional and international settings.
Business etiquette
Making a company look more environmentally friendly than it actually is through false marketing.
Greenwashing
An official ban or restriction on trade with a particular country, usually for political reasons.
Embargo
A global financial institution based in Washington, D.C., that grants loans to countries for large development projects.
World Bank
Adapting global products or services to fit the local culture, language, and laws of a specific country.
Localization
The ability to understand, communicate with, and effectively interact with people across different cultures.
Cultural intelligence
The risk that a country's government will suddenly change its laws, taxes, or leadership, hurting foreign businesses.
Political risk