A
Reciprocal form of international trade in which goods or services are exchanged for other goods or services rather than for hard currency
What is countertrading?
This occurs when a company or country exports its products at a price lower than its domestic price
What is dumping?
Government order that restricts commerce with a specified country or the exchange of specific goods
What is an embargo?
The value of one currency for the purpose of conversion to another
What is the exchange rate?
Products or services that are made in one country but purchased and consumed in another country
What are exports?
Bringing products or services into a country for sale that have been made in another country
What is importing?
Manufacturing operation in Mexico that operates under a favorable duty or tariff-free basis
What is a maquiladora?
More fluid, free-flowing orientation to time that changes according to the situation
What is polychronic time?
What is a tariff?
A corporate organization that owns or control production of goods or services in at least one other country than its home country
What is a multinational corporation?
An economic position in which a country enjoys the best trade terms given by its trading partner
What is a most favored nation?
Managers who believe that people in foreign countries do not have the needed skills, expertise, knowledge or experience as people in the home country
What are ethnocentric managers?
Managers with an attitude that focuses on using the best approaches and people from around the globe
What are geocentric managers?
The process of viewing the world solely through one's own eyes and perspectives
What is parochialism?
The action of a government claiming privately-owned property against the wishes of the owners
What is expropriation?
The business practice of obtaining goods and services from a foreign supplier
What is outsourcing?
The policy of protecting domestic industries against foreign competition through tariffs, subsidies, import quotas or other restrictions
What is trade protectionism?
Massive trade agreement signed by 12 Pacific Rim countries including the U.S.
What is the Trans-Pacific Partnership (TPP)?
Government-imposed trade restriction that limits the number or monetary value of goods that a country can import
What is an import quota?
Cultures in which rules of communication are transmitted through body language, a person's status and tone of voice
What are high-context cultures?
Policy by which a government does not discriminate against imports or interfere with exports
What is free trade?
Federal law that prohibits U.S. citizens and entities from bribing foreign government officials
What is the Foreign Corrupt Practices Act?
Study of cross-cultural leadership that spans over 60 countries and cultures
What is the GLOBE project?
Groups of countries in specific regions that manage and promote trade activities
What are trading blocs?
An individual living and/or working in a country other than his/her country of citizenship
What is an expatriate?