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Definition
| engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country; also called global sourcing |
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| an entry strategy in which the organization maintains its production facilities within its home country and transfers its products for sale in foreign countries |
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| an entry strategy in which an organization in one country makes certain resources available to companies in another to be able to participate in the production and sale of its products abroad |
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Definition
| an entry strategy in which the organization is involved in managing its production facilities in a foreign country |
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| organizational strategies for entering a foreign market |
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| the barter of products for other products rather than their sale for currency |
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| a form of licensing in which an organization provides its foreign franchisees with a complete package of materials and services |
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Definition
| the management of business operations conducted in more than one country |
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| a country’s physical facilities that support economic activities |
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| the rate at which on country’s currency is exchanged for another country’s |
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| a company’s risk of loss of assets, earning power, or managerial control as a result of politically based events or actions by host governments |
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| events such as riots, revolutions, or government upheavals that affect the operations of an international company |
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| the degree to which people accept inequality in power among institutions, organizations, and people |
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| a value characterized by people’s intolerance for ambiguity and the resulting support for beliefs that promise certainty and conformity |
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Definition
| a preference for a loosely knit social framework in which individuals are expected to take care of themselves |
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Definition
| a preference for a tightly knit social framework in which individuals look after one another, and organizations protect their members’ interests |
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| a cultural preference for achievement, heroism, assertiveness, work centrality, and material success |
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| a cultural preference for relationships, cooperation, group decision making, and quality of life |
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| a greater concern for the future and high value on thrift and perseverance |
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| a concern with the past and present and a high value on meeting social obligations |
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| a cultural attitude marked by the tendency to regard one’s own culture as superior to others |
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| a term describing a GATT clause that calls for member countries to grant other member countries the most favorable treatment they accord any country concerning imports and exports |
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Definition
| a single European currency that has replaced the currencies of 12 European nations |
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Term
| Cultural intelligence (CQ) |
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Definition
| a person’s ability to use reasoning and observation skills to interpret unfamiliar gestures and situations and devise appropriate behavioral responses |
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Term
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Definition
| feelings of confusion, disorientation, and anxiety that result from being immersed in a foreign culture |
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