6941349
Description
Flashcards by Amber Modena, updated more than 1 year ago
|
Created by Amber Modena
over 7 years ago
|
|
| Question | Answer |
| General Agreement on Tariffs and Trade (GATT) | 1947! treaty that promoted trade in, replaced by WTO in 1995 |
| (WTO) | forum for trade-related negotiations with 150 members based in Geneva, dispute mediator, can enforce, can impose sanctions |
| Preferential Trade Agreements (PTAs) | lower barriers for more trading special treatment within PTA |
| Free Trade Area | 1. Eliminates tariffs and quotas among members only NAFTA |
| Customs Union | 1. eliminates tariffs and quotas AND 2. has a common external tariff (CET) and quota system SICA |
| Common Market | 1. eliminates tariffs and quotas, 2. sets a common external tariff (CET), 3. AND eliminates restriction on factor movements Andean Community |
| Economic Union | 1. eliminates tariffs and quotas, 2. sets a common external tariff (CET), 3. eliminates restriction on factor movements, AND 4. harmonizes economic and social policies MERCOSUR |
| NAFTA | established free trade, promotes economic growth through tariff reductions and expanded trade, no common external tariff |
| Central American Integration System (SICA) | moving toward common market but still customs union, common external tariff, retains tariffs on goods also produced in importing country |
| Andean Community | customs union which abolished foreign exchange and established common external tariffs |
| Common Market of the South (MERCOSUR) | customs union wanting to become common market, no internal tariffs, external tariff up to 20% |
| Association of Southeast Asian Nations (ASEAN) | trading partners- US, EU, China geographically close, historically divided |
| European Union | began with 1958 treaty of Rome, harmonizes national laws, free-flowing, 1991 Maastricht Treaty merged currency into euro |
| Middle East | oil, muslims, arabs, persian, jews |
| Gulf Cooperation Council | 45% of world's oil, attempting to diversify indistries |
| Global Marketers' Task | study and understand cultures to do business in, not be ethnocentric and have cultural myopia |
| Culture | ways of living, built up by a group, transmitted across generations conscious and unconscious, physical and non-physical |
| Attitude | tendency to respond in a consistent way to a given object or entity |
| Belief | organized pattern of knowledge that someone holds to be true |
| Value | enduring belief/feeling that a certain behavior is more moral than another |
| Red | blood, wine-making, heat, vibrancy bad in some African countries good in China |
| white | purity in the west death in the east |
| gray | inexpensive in china and japan expensive in US |
| yellow | indicates a merchant in china |
| blue | in England and U.S. = fidelity |
| McDonaldization of Culture | protest against the opening of McDonald's in Rome led to establishment of Slow Food movement |
| High Context culture | information resides in CONTEXT emphasis on values and status less emphasis on paperwork focus on personal reputation polychronic |
| Low Context culture | words carry a lot of weight emphasis on paperwork non-personal monochronic |
| Hofstede's Cultural Typology | PIMULI/c power distance indulgence masculinity uncertainty avoidance long-term orientation individualism/collectivism |
| Self-reference criterion | unconscious reference to one's own cultural values; creates cultural myopia; connected to ethnocentrism |
| Cultural myopia | define the problem or goal make no value judgments isolate the SRC and examine it redefine the problem without SRC |
| Diffusion Theory: Adoption Process | awareness interest evaluation trial adoption |
| Diffusion Theory: Characteristics of Innovation | five factors affect it: relative advantage compatibility complexity divisibility communicability |
| Political Environment | governmental institutions, political parties, and NGOs ---political culture |
| Political Risk | Risk of change in political environment, a country will have a difficult time attracting foreign investment when perceived political risk is high |
| Taxes | Government taxation policies: high taxation can lead to black market growth Corporate taxation: companies attempt to limit tax liability by shifting location of income |
| Expropriation | governmental action to dispossess a foreign company of investor, includes compensation |
| Confiscation | seizing a company, no compensation |
| Nationalization | a government takes control of some or all enterprises in an industry |
| Creeping expropriation | limits economic activities of foreign firms, squeezes a project |
| International Law | rules and principles that nation-states consider binding among themselves |
| Common Law | disputes are decided by reliance on past decisions, companies are legally incorporated by state authority, U.S. Uniform Commercial Code |
| Civil Law | legal system reflects the structural concepts and principles of the Roman Empire, companies form contracts between two or more parties, China |
| Jurisdiction | refers to a court's authority to rule on particular issues, courts have jurisdiction if it can be demonstrated that the company is doing business where the court sits |
| Patent | gives an inventor exclusive right to make, use, and sell an invention for a specified period of time |
| Trademark | distinctive mark, motto, device, or emblem used to distinguish it from competing products |
| Copyright | establishes ownership of a written, recorded, performed, or filmed creative work |
| Counterfeiting | unauthorized copying and production of a product (against a patent) |
| Associative Counterfeit/Imitation | product name differs slightly from a well-known brand (trademark) |
| Piracy | unauthorized publication or reproduction of copyrighted work |
| Antitrust | laws designed to combat restrictive business practices and to encourage competition SHERMAN ACT- Don't trust Sherman! to avoid monopolies |
| Licensing | a contractual agreement in which a licencor allows a licensee to use patents, trademarks, secrets, etc could be dangerous if licensee creates competition! |
| Trade Secrets | confidential information or knowledge, use confidentiality contracts |
| Bribery and Corruption | U.S. has Foreign Corrupt Practices Act Omnibus Trade and Competitiveness Act allows some bribery "grease" payments |
Want to create your own Flashcards for free with GoConqr? Learn more.