Strategy
A written statement of why a company exists and what it plans to accomplish
What is a Mission Statement?
Value of all goods and services produced by a country's domestic activities over a one-year period.
What is gross domestic product?
A relationship whereby two or more entities cooperate to achieve the strategic goals of each.
What is a strategic alliance?
Detailed knowledge about a culture that enables a person to work happily and effectively within it.
What is cultural literacy?
Menace to democracy, climate threat, exploiter of labor, destroyer of culture
What is globalization?
A company's special ability that competitors find extremely difficult to equal.
What is Core Competency?
International organization that enforces the rules of international trade.
What is the World Trade Organization (WTO)?
A separate company that is created and jointly operated by two or more independent entities to achieve a common business objective.
What is a joint venture?
Believe that one's own ethnic group or culture is superior to that of others.
What is ethnocentricity?
Guardian of democracy, guarantor of peace, creator of opportunity.
What is globalization?
A company offers the same product using the same marketing strategy in all national markets.
What is a global strategy?
Process of obtaining information that already exists within the company or that can be obtained elsewhere.
What is secondary market research?
One company owning intangible property grants another business the right to use that property for a limited period of time.
What is licensing?
Ease with which individuals can move up or down a culture's "social ladder."
What is social mobility?
Departure of highly. educated people from one profession, geographic region or nation to another.
A company adapts products and marketing strategies in each national market to suit local preferences.
What is a multinational strategy?
Sensitivity of demand for a product relative to changes in income.
What is income elasticity?
One company supplies another with intangible property and other assistance over an extended period.
What is franchising?
System of social stratification in which personal ability and actions determine social status and mobility.
What is a class system?
Third or "link" language understood by two parties who speak different native languages.
What is a lingua franca?
Purchase of physical assets or significant ownership a company in another country to gain a measure of management control.
What is foreign direct investment?
Development that meets the needs of the present without compromising the ability of future generations to met their needs.
What is sustainability?
A team that builds a structured analysis of country options for a company's future international expansion.
What is a PESTLE group?
Framework for studying cultural differences along six dimensions, such as individualism versus collectivism an equality versus inequality.
What is the Hofstede Framework?
When a country imports more goods and services and pays more abroad than it exports and receives from abroad.
What is a current account deficit?