GLOBALIZING BUSINESS

GLOBALIZING BUSINESS

1. International Business: Engages in international economic activities

2. Multinational enterprise: Engages in foreing direct investment by directly investing in controlling

3. Foreing Direct investment (FDI): When a country invests, controls and manages value-added activities in other countries.

4. Global Business: All business in the world

5. Purchasing power parity (PPP): Conversion to establish the cost of living in the countries.

6. Triad Developed economies (North America, Western Europe, and Japan).

7. Based of the pyramid: ordinary people with insufficient income to survive economically but influence in Economy.

8. BRIC: An acronym for the emerging economies of Brazil, Russia, India and China.

9. Emerging economy: A developing country.

10. Expatriate manager: executive, who works outsite your principal country

11. . Formal Institutions: such as laws, regulations, and rules, example Colombia Congress

12. Globalization: The union between countries and peoples of the world.

13. Gross domestic product (GDP): The economy of a country on the value added by native businesses, households and governments.

14. informal institutions: norms, cultures, and ethics.

15. Instituional framework: formal and informal institutions that regulate, control and manage individual behavior and community.

16. Institution - based view: Viewpoint in the global economy, where the results are reviewed to determine the rules governing the behavior of companies worldwide.

17. Institutions: rules in economy way

18. International premium: Extra pay expatriates when working outside their country of origin.

19. Liability of foreignness The expense accruing to foreign companies not receiving the same condition in foreign countries.

20. Non - goverment Organizations (NGOs) Organizations that are not affiliated with governments.

21. Resource - based view:: Resource-based view: firm performance is determined by its internal resources and capabilities.

22. Semiglobalization: the barriers to market integration at borders are high but not high enough to insulate countries from each other.

23. Information by: Peng, M. (2010). Globalizing Business. Global. (pp. 2-17). South western USA.

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