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Globalisation
Global Business Strategy
Specific Influences on Global Business
Managing Global Business (Strategies)
Management Responsibility in a Global Environment
100
the value of a nation’s total production of goods and services over a year
What is Gross Domestic Product (GDP)?
100
Increasing sales and finding new markets.
What is a reason for international expansion?
100
Currency fluctuations, interest rates, overseas borrowing.
What are financial influences on global business?
100
Examples include pre-payment, letter of credit, bill of exchange and an open account.
What are methods of payments?
100
This refers to countries or states where taxes are levied at a low rate, or not at all. The Bahamas and the Cayman Islands are well-known examples.
What is a tax haven?
200
are taxes levied on commodities as they cross a national boundary such as import duty. They make imported goods more expensive on the local market
What are tariffs?
200
is an economic term that simply means ‘advantages of size’. When more units of a good or a service can be produced on a larger scale, yet with (on average) less input costs, economies of scale are achieved. Alternatively, this means that as a company grows and production units increase, a company 347 will have a better chance to reduce its costs.
What is 'economies of scale'?
200
refers to the tendency of some countries in the same part of the world to join forces
What is regionalism?
200
offering the same product to different markets worldwide
What is standardisation?
200
is a very complex issue and refers to how an organisation prices items that are transferred within an organisation (such as between parent companies and subsidiaries/affiliates). Since the prices are set within an organisation, the typical market mechanisms that establish prices for such transactions between third parties may not apply. Instead, artificially low prices may be used, which can affect profit levels and, therefore, the tax paid.
What is transfer pricing?
300
the process of removing government restrictions on businesses and individuals that dictate how a market functions
What is deregulation?
300
involves selling goods and services to buyers in an overseas market.
What is exporting?
300
are legally binding agreements between two or more parties; most global business relies upon contractual arrangements
What are contracts?
300
is the expansion of a business into the production process other than that of the original business
What is vertical integration?
300
refers to the practice of selling products overseas at below cost or significantly below prices in the home market. It is viewed as a type of predatory practice, aimed at adversely affecting competition. Under the WTO rules, this act is discouraged and firms may apply to their respective government to impose tariffs and other measures to obtain competitive relief.
What is dumping?
400
the number of units of a foreign currency that can be bought with one unit of the domestic currency, or vice versa
What is 'exchange rate'?
400
the legal methods employed by business to minimise their tax liability. Should not be confused with illegal methods known as tax evasion.
What is tax minimisation?
400
Languages, tastes, religions, varying business practice and ethics.
What are social and cultural influences on global business?
400
Host country nationals are given preference for the top jobs.
What is polycentric staffing?
400
is the term used to describe development that meets the needs of today’s generation without compromising the ability to meet the needs of tomorrow’s generation.
What is ecological sustainability?
500
- The role of transnational corporations - Global consumers - Impact of technology - Role of government - Deregulation of financial markets
What are the drivers of globalisation?
500
occurs when a business invests in the operations of a business in another country, known as the host country. This investment is typically in buildings, machinery and equipment.
What is Foreign Direct Investment (FDI)?
500
Patents, copyright, trademarks, trade secrets.
What is intellectual property?
500
refers to the intricate nature of a global business’ supply chain, production and operations around the world
What is a global web?
500
This type of dumping, while not a technical term, refers to dumping where the lax regulation, unethical practice and enforcement has resulted in unsafe products reaching our supermarket shelves.
What is inadvertent dumping?