Globalization
Commercial transactions that cross the border of two or more nations is called what
What is International Business
A through knowledge of this is necessary when opening a business in a foreign country.
What is Culture?
Imposed authority, lack of constitutional guarantees, and restricted participation are all features of this political system
What is Totalitarianism?
This emerging market country has an opaque legal system, rampant corruption, and shifting business laws.
What is Russia?
The three pillars of Mercantilism are: Government intervention, colonialism and _________
What is maintaining trade surplus?
This organization main objective include: help the free flow of trade, help negotiate the further opening of markets, & Settle trade dispute among its members
What is the World Trade Organization (WTO)?
Indulgence vs. restraint and Power distance are 2 dimensions of this Framework
What is the Hofstede Framework?
It is a legal rights to resources that result from intellectual abilities
What is intellectual property rights?
Is the relative ability of two countries’ currencies to buy the same “basket” of goods in those two countries
What is Purchasing Power Parity (PPP)?
A cluster of related industries that spring up in a geographic area to support a nation's internationally competitive industry is an element of which trade theory
What is National Competitive Advantage theory?
The convergence of buyer preferences in markets around the world is called what?
What is Globalization of Markets?
Habits or ways of behaving in specific circumstances that are passed down through generations
What are customs?
A national economics approach that called for less government interference in commerce and greater individual economic freedom
What is Laissez-faire system? or market Economy
The policy of hiring of people to represent a company's views on political matters
What is Lobbying?
Economic and strategic advantage gained by being the first company to enter an industry
What is first-movers advantage?
Internal Company website and information networks that give employees access to company data using personal computers, is called what?
What is Intranet?
All the technology used in a culture to manufacture goods and provide services
What is material culture?
A view that a company's home-country ethics is best and should be maintained wherever it operates.
What is Righteous Moralist view?
Stabilizing the economy, allowing prices to reflect supply and demand, legalizing private business and reducing barriers to trade are sever key measures for what type of countries
What are countries in transition?
At this stage, the domestic market and those abroad become fully aware of the existence of the product and its benefits and demand rises
What is maturing product stage?
Accessing lower-cost labour, technical expertise, and production inputs, is known as
What is Globalization of Production?
Social Structure or how cultures is organized has 3 main elements: Social group associations, social status and
What is social mobility?
This measures indirect CO2 emissions from a full life cycle of a product
What is secondary footprint?
Managing political risk can be done by information gathering before and during entry in a market, political influence through lobbying or bribery and _
What is adaptation?
According to the theories of absolute and comparative advantage say that nations benefit from trading because of gains from this
What is specialization?