Term
| Consequences of a Global Economy |
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Definition
| Opportunities are greater, more money, more complex environment, companies view the world as a single marketplace |
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Term
| Profit Possibilites for a Global Economy |
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Definition
| Locate best skills and technologies, optimize production costs and labor costs, increaseing volume |
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Term
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Definition
| More trading/imports and exports, more international investing, more competition, more opportunities, more risks |
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Term
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Definition
| Outsourcing. Occurs when an organization contracts with an outside provider to produce one or more of an organizations products or services. |
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Term
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Definition
| Organizational model that consists of the subsidaries in each country adapting to the local cultures, with ultimate control exercised by the parent company (tea in england, pizza in italy) |
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Term
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Definition
| Organizational model consisting of a company's overseas subsidaries and characterized by centralized decision making and tight control by the parent company over most aspects of worldwide operations. |
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Term
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Definition
| Parent company nationals who are sent to work at a foreign subsidary |
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Term
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Definition
| Natives of the country where an overseas subsidary is located |
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Term
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Definition
| Power distance, uncertainty avoidance, maculinity/femininity, individualism/collectivism, lonterm/short-term time orientation |
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Term
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Definition
| Starting a sub-business within a corportation |
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Term
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Definition
| A description of the product or service, an assessment of the opportunity and the entrepreneur |
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Term
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Definition
| A formal planning step that focuses on the entire venture and describes all the elements involved in starting it |
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Term
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Definition
| Networks, top management teams, advisory boards, business incubators |
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Term
| Challenges for Entrepreneurs |
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Definition
| Mortality, inadequate delegation, misuse of funds, poor planning and controls |
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Term
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Definition
| Protected environments for new, small business. They offer benefits such as low rents and shared costs |
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Term
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Definition
| Hires and fires the CEO. Determines the firms strategic directon and reviewing financial performance, assuring ethical and legal conduct |
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Term
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Definition
| The number of subordinates who report directly to an executive or supervisor. Can be tall(narrow span of control) or flat (wide span of control). |
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Term
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Definition
| Most decisions are made at the top. |
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Term
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Definition
| Decisions are made at lower levels. The same as delegation. |
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Term
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Definition
| The assignment of additional responsibilities to a subordinate. |
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Term
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Definition
| The organization must be subdivided, or departmentalized, into smaller units. Can be split into functional or divisional. |
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Term
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Definition
| Jobs are specialized and grouped according to business function. |
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Term
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Definition
| Departmentalization will group units around products, customers, or geographic regions. |
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Term
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Definition
| A hybrid form of organization in which functional and divisional forms overlap |
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