All cross-border exchange of goods, services, or resources between two of more nations.

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The body of knowledge that answers questions about the development and implementation of good strategies; mainly concerned with the determinants of firm performance.

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The central, integrated, and externally oriented concept of how an organization will achieve its performance objectives.

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A form of government payment to a producer.

Can also be cash grants and government-equity participation, which are less common because they require a direct use of government resources.

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The recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, throughtfully planned ventures.

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A person or organization engaged in commerce with the aim of achieving a profit.

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A person or organization that sells products and services that are sourced from other countries.

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A person or organization taht sells products and services in foriegn countries that are sourced from the home country.

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Advantages due to choice of foreign markets and can include better access to raw materials, less costly labor, key suppliers, key customers, energy, and natural resources.

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Any nonprofit, voluntary citizens' group that is organized on a local, and national, or international level.

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The body of people that sets and administers public policy and exercises executive, political, and soveriegn power through customs in institutions, and laws with a state, country, or other political unit.

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An analytical framework used to understand country and regional differences along the distance dimensions of culture, administration, geography, and economics.

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Branch of business that examines various kinds of activites and asks, "Is the business conduct ethically right or wrong?".

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The concept of exchanging goods and services between people or entities in two different countries.

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The concept of exchanging goods and services between two people ir entities.

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This theory stated that country's wealth was determined by the amount of its gold and silver. They believed that a country should increase in holdings of golds and silver by promoting exports and discouraging imports.

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The value of exports is greater than the value of imports.

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The value of imports is greater than the value of exports.

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The practice of imposing restrictions on imports protecting domestic industry.

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Common type of subsidies.

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Two strategies to limit the amount of imports into a country.

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Governments may limit the convertibility of one currency (usually its own) into others, usually in an effort to limit imports. Additionally, some governments will manage the exchange rate at a high level to create an import disincentive.

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Dumping occurs when a company sells product below market price often in order to win market share and weaken a competitor.

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The ability of a country to produce a good more efficiently than another nation.

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The situation in which a country cannot produce a product more efficiently than another country; however, it does produce that product better and more efficiently than it does another good.

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An english economist, introduced the theory of comaparative advantage in 1817.

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Many countries continue to require that a certain percentage of a product or an item be manufactured or “assembled” locally. Some countries specify that a local firm must be used as the domestic partner to conduct business.

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The classical, country-based international theory states that countries would gain comparative advantage by producing products utilized factors that were in abundance in the country.

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A paradox identified by Russian economist Wassily W. Leontief that states, in the real world, the reverse of the factor proportions theory exists in some countries.

Example: Even though a country may be abundant in capital, it may still import more capital-intensive goods.

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A modern, firm-based international trade theory that explains intraindustry trade by stating that countries with the most similarities in factors such incomes, consumer habits, market preferences, stage of technology, communications, degree of industrialization, and others will be more likely to engage in trade between countries and intraindustry trade will be common.

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Governments provide financing to domestic companies to promote exports.

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A modern, firm-based international trade theory that states that a product life cycle has three distinct stages:

(1) new product

(2) maturing product

(3) standardized product

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Theory that focused on MNCs and their efforts to gain a competitive advantage against ther global firms in their industry.

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Theory that states that a nation's competitiveness in an industry depends on tha capacity of the industry and firm to innovate and upgrade.

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Two main categories of international trade:

• Classical, country-based

• Modern, firm-based

The system of politics and government in a country; it governs a complete set of rules, regulations, institutions, and attitudes.

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A political ideology that contends that individuals should control political activities and public government is both unnecessary and unwanted.

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A political ideology that contends that every aspect of an individual’s life should be controlled and dictated by a strong, central government.

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A political ideology that asserts that both public and private groups are important in a well-functioning political system.

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A form of government that derives its power from the people.

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An economic system in which the means of production are owned and controlled privately.

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An economic system in which the government or state directs and controls the economy, including the means and decision making for production.

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A legal system based upon a detailed set of laws that constitute a code and on how the law is applied to the facts. It’s the most widespread legal system in the world.

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A legal system based on traditions and precedence.

In this system, judges interpret the law and judicial rulings can set precedent.

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These areas enjoy reduced tariffs, taxes, customs, procedures, or restrictions in an effort to promote trade with other countries.

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Known as theocratic law; this legal system is based on religious guidelines.

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Islamic religious law that addresses all aspect of daily life; in terms of business and finance, the law prohibits charging interest on money and other common investment activities, including hedging and short selling.

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Host governments can specify (a)   if they want to keep the control of local markets or industries in their citizens’ hands.

These are the bureaucratic policies and procedures governments may use to deter imports by making entry or operations more difficult and time consuming.

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The investment in a company’s stocks, bonds, or assets, but not for the purpose of controlling or directing the firm’s operations or management.

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An investment in or the acquisition of foreign assets with the intent to control and manage them.

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A company’s home government imposes restrictions in an effort to persuade companies to invest in the domestic market rather than a foreign one.

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An American journalist, author and columnist. He is perhaps best known for his book, The World Is Flat, A Brief History of the Twenty-First Century.

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Beliefs, values, mind-sets, and practices of a group of people. It includes the behavior pattern and norms of that group—the rules, the assumptions, the perceptions, and the logic and reasoning that are specific to a group.

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Having an understanding of another culture’s values and perspective.

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The requirement that we reorient our mind-set and, most importantly, our expectations, in order to accurately interpret the gestures, attitudes, and statements of the people we encounter from other cultures.

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Something that we prefer over something else—whether it’s a behavior or a tangible item.

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Many groups are defined by ethnicity, gender, generation, religion, or other characteristics with cultures that are unique to them.

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-An influential Dutch social psychologist who studied the interactions between national cultures and organizational cultures.

-Sometimes called the father of modern cross-cultural science and thinking, is a social psychologist who focused on a comparison of nations using a statistical analysis of two unique databases.

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The specific values included in Hofstede’s research. Values, in this case, are broad preferences for one state of affairs over others, and they are mostly unconscious.

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(a)   cultures openly accept that a boss is “higher” and as such deserves a more formal respect and authority.

(a)   cultures, in which superiors and subordinates are more likely to see each other as equal in power.

A respected anthropologist who applied his field to the understanding of cultures and intercultural communications.

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The study of physical space and people; called proxemics, one of Hall’s principal categories on describing how cultures differ.

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The view that a person’s own culture is central and other cultures are measured in relation to it.

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The challenge occurs when we feel that our cultural habits, values, and perceptions are superior to other people’s values.

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It refers to behavior that is generally accepted within a specific culture.

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