Acronyms
SHRM
Strategic human resources management
The competition between organizations to attract and retain the most able employees.
War for talent
A person who works and resides outside their native country. Often a skilled professional.
What is an Expat or Expatriate
An investment coming into the country by a company in another country.
What is Inward FDI?
The direct exchange of one good for another, with no money involved.
What is to Barter or Bartering?
What is Total Quality Management?
A process where an organization ensures that employees are recruited and developed to fill each key role within the company.
What is succession planning?
A performance-management tool that helps managers define the performance categories that relate to the company’s strategy.
What is a balance scorecard?
When a company is trying to open up a new market that is similar to its domestic markets.
What is Horizontal FDI?
What is the granting of permission to use intellectual property rights, such as trademarks, patents, brand names, or technology, under defined conditions to another party.
What is Licensing?
SLA
What is service-level agreements?
The process of dividing a larger market into smaller markets that share a common characteristic, such as age, gender, income level, or lifestyle.
What is Market segmentation?
Commerce areas where vendors purposely deceive buyers by altering products and then selling them as branded products at a bargain cost.
What are Counterfeit markets?
When a company purchases or leases existing production facilities to launch a new production activity.
What is Brownfield FDI?
Easiest and lowest cost way to participate in international trade.
What is Exporting?
CSR
What is Corporate Social Responsibility?
Structure when the home-country headquarters retains decision-making power for marketing in all countries.
What is Centralized-marketing organizational structure?
To buy raw materials, components, or services from one supplier exclusively, rather than buying from two or more suppliers.
What is sole sourcing?
List three of the six ways governments encourage FDI.
Financial incentives
Infrastructure improvements
Administrative processes/regulations
Investments in education
Creating stable political, economic, and legal systems
Entity that typically prepares the documentation, suggests shipping methods, navigates trade regulations, and assists with details like packing and labeling.
What is a Freight forwarder?
EMC
What is Export management company?
Taking the company’s current products and selling them in other countries without making changes to the product.
What is a Straight product extension?
The contract between the exporter and the carrier authorizing the carrier to transport the goods to the buyer’s destination.
What is the Bill of Lading?
The acquisition of foreign assets with the intent to control and manage them.
What is the Foreign direct investment (FDI)
Contract between banks that states the bank of the importer will pay the bank of the exporter upon getting the proper documentation.
What is a letter of credit?