Term
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Definition
| Trend away from distinct national economic units and toward one huge global market |
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Term
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Definition
| Moving away from an economic system in which national markets are distinct entities, isolated by trade barriers, and barriers of distance, and toward a system in which national markets are merging into one global market |
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| Globalization of Production |
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Definition
| Trend by individual firms to disperse parts of the productive process to different locations around the globe to take advantage of national differences in the cost and quality of factors of production |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| International treatu that committed signatories to lowering barriers to the free flow of goods across national borders and led to the WTO |
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Term
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Definition
| Org that succeeded the GATT as a result of the successful completion of the Uruguay Round of GATT negotiations |
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Term
International Monetary Fund (IMF)
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| International institution set up to maintain order in the intl monetary system |
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Term
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Definition
| Intl inst set up to promote gen economic development in the worlds poorer nations |
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| intl org made up of 191 countries and heaquarterd in NY City, formed in 1945 to promote peace, security and cooperation |
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Term
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Definition
| Occurs when a firm exports goods or services to consumers in another country |
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| Foreign Direct Investment (FDI) |
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Definition
| direct investment in bus ops in a foreign country |
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Term
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Definition
| the power of a microprocessro tech doubles and its cost of production falls in half every 18months |
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Term
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Definition
| total cumulative value of foreign owned assets at a given time |
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Term
| Multinational Enterprise (MNE) |
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Definition
| A firm that owns bus ops in more than one country |
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Definition
| Political, economic and legal systems of a country |
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Definition
| a political system that emphasizes collective goals over individual goals |
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Definition
| sale of state owned enterprises to private investors |
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Definition
| emphasis on the importance of guaranteeing individual freedom and self expression |
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Definition
| political system in which gov is by the people excercised either directly or through reps |
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Term
| Theocratic Totalitarianism |
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Definition
| political system in which political power is monoploized by a party, group or individual that governs according to religious principles |
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Definition
| one person or party excercises absolute control over all aspects of human life and prohibits opposing political parties |
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Definition
| political system in which a person or group represents the interests of a particular tripbe monopolizes political power |
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Definition
| economic system in which the interaction of supply and demand determiones the quantity in which goods and services are produced |
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Term
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Definition
| econ system in which the gov plans the goods and services that a country produces, the quantity in which they are produced and the prices at which they are sold |
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Definition
| system of law based on tradition, precedent and custom |
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Term
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Definition
| law based on a detailed set of written laws and codes |
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Definition
| law based on religious teachings |
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Term
| United Nations COnvention on Contracts for the International sale of Goods (CIGS) |
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Definition
| set of rules governing certain aspects of making and performance of commercial contracts betweem sellers and buyers who have their places of business in different nations |
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Term
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Definition
| the bundle of legal rights over the use to which a resource is put over and the use made of any income that may be derived from that resource |
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| Foreign Corrupt practices act |
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Definition
| US law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions |
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Term
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Definition
| Products of the mind such as computer software, a screenplay, a music score, or the chemical formula for a new drug, can be protected by patents , coprights and trademarks |
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Term
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Definition
| grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use or sale of that invention |
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Definition
| the exlusive legal rights of authiors, composers, playwrights, artists, and publisher to publish and disperse their works as they see fit |
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Term
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Definition
| designs and names, often officially registered buy which merchants or manufacturers designate and differentiate theire proucts |
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Term
| world Intellectual Property orgnazation |
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Definition
| an intellectual organization whose members sign treaties designated to protect intellectual property |
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Term
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Definition
| set certain safety standards to which a products must ahere |
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Term
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Definition
| Involves golding a firma nd its officers responsible when a product causes injury, death or damage |
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Term
| Gross National Income (GNI) |
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Definition
| the yardstick for measuring hte economic activity of a country, it measures the total annual income received by a nation's residents |
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Term
| Human Development Index ( HDI) |
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Definition
| An attempt by the UN to assess the impact of a nunber of factors on the quality of human life in a country |
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Definition
| Adavntages that accrue to the first to enter a market |
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Term
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Definition
| Advantage of moving into a market later |
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Term
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Definition
| the likelihood that political forces will cause drastic changes in a countrys bus environment that will adversely affect the profit and other goals of a bus enterprise |
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Term
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Definition
| The likelihood that events including economic management will cause drastic changes in a countrys bus environment that hurst the profit and other goals of a business enterprise |
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Definition
| The likelihood that a trading partner will oppurtunisticly break a contract or expropriate property rights |
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Definition
| an understanding of how cultural differences across and within nations can affect the way business is practiced |
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Definition
| A system of values and norms that are shared among a group of people and that when taked together constitute a design for living |
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Definition
| abstract ideas about what a group believes to be good, right and desirable |
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Term
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Definition
| hierarchical social categories often based on family background, occupation and income |
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Term
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Definition
| a closed system of stratification in which social position is determined by the family info which a person is born, and change in that position is usually not possible during an individuals lifetime |
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Definition
| a tendency for people to perceive themselves in terms of their class background |
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Definition
| a set of moral principles or values that are used to guide and shape behavior |
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Definition
| a belief in superiority of ones own ethnic group or culture; often results in disregard or contempt for the culture of other countries |
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Term
| Hofstedes 4 Dimensions of Culture |
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Definition
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Term
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Definition
| How a culture deals with the fact that people have unequal physical and intellectual properties. High power let these grow to inequalities in power and wealth. Low power play them down |
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Term
| Individualism vs Collectivism |
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Definition
Ind-High value on individual freedoms and acheivments
Collectivism- people should focus on ties with eachother and look out for those they have ties with |
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Term
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Definition
| extent to which different cultures socialize their members into accepting ambiguous situations and tolerating uncertainty |
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| Masculinity vs Femininity |
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Definition
| theory of relationship between gender and work roles. |
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Term
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Definition
| Theory that Confucian teaching affect attitudes toward time, persistance, ordering by status, protection of face, respect for tradtition and reciprocation of favors |
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Term
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Definition
| The accepted principles of right or wrong governing the condut of bus people |
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Definition
| strategy or course of action, that does not violate the accepted ethics |
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| Convention of Combating Bribery of Foreign Public Officials in International Business Transactions |
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Definition
| OECD convention that obliges member states to make the bribery of foreign public officials a criminal offense |
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Term
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Definition
| The idea that bus people should consider the social consequences of economic actions when making bus decisions |
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Term
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Definition
| situation in which none of the available alternatives seem ethically responsible |
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Term
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Definition
| values and norms shared among an org's employees |
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Term
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Definition
| the belief that ehtics are culturally determined and that firms should adopt the ethics of the cultures in which they operate |
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Term
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Definition
| the belief that a multinationals home country standards of ethics are the appropriate ones for the comp to follow in foreign countries |
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Term
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Definition
| the belief that people should be treated as ends and never as means to the ends of others |
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Term
| Universal Declaration of Human Rights |
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Definition
| UN doc that laws down the basic principles of huan rights that should always be adhered to |
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Term
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Definition
| a dist of economic goods and services that is considered fair and equitable |
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Term
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Definition
| a bus' formal statement of ethical priorities |
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Term
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Definition
| individuals or groups that have an interest, stake or claum in the actions and overall performance of a company |
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Term
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Definition
| People who work for or own the bus, such as employees, directors and shareholders |
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Term
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Definition
| individuals and groups that have some claim on the firm such as customers, suppliers, and unions |
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Definition
| absence of gov barriers to the free flow of goods and services between countries |
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Term
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Definition
| economic philosophy advocating that countries should simultaneously encourage exports and discourage imports |
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Term
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Definition
| situation in which an exonomic gain by one country results in an economic loss for another |
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Term
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Definition
| a country has an abs adv in the production of a product when it is more efficient than any other country in producing it |
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Term
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Definition
| extent to which a country is endowed with such resources as land, labor and capital |
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Term
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Definition
| cost advantages associated with large scale production |
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Term
| Balance of Payments Accounts |
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Definition
| national accounts that track both payments to and receipts from foreigners |
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Term
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Definition
| in the balance of payments, records transactions involving the export or import of goods and services |
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Term
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Definition
| imports greater than exports |
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Term
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Definition
| exports greater than imports |
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Term
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Definition
| records onetime changes in the stock of assets |
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Term
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Definition
| records transactions that involve the purchase or sale of assets |
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