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25 Cards in this Set
- Front
- Back
Globalizaiton |
integration and interdependence of economic, technological, socio-cultural, and political systems across diverse geographic regions |
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European union |
created a single market by a system of laws that apply in all member states, guaranteeing the freedom of movement of people, goods, services, and capital -introduced common currency (euro) |
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NAFTA |
-treaty in 1994 -US, Canada, and Mexico signed to eliminate tariffs -trading regulations on on agricultural products -open boarders are good for industries |
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ASEAN |
-1967 -accelerating economic growth -promoting social and cultural development -ensuring peace and stability -freer flow of goods and services |
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MERCORSUR |
-1991 -created to promote economic growth and integration through reduction of tariffs and free flow of goods |
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Comparative advatage |
countries should specialize in producing goods for which they have the lowest opportunity cost of production |
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Business environment |
represents all of the external forces that affects the firms business |
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General environment |
includes the technological, economic, political/legal, and socio-culture dimensions that affects a firms external environment |
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Technological dimension |
the processes, technologies, or systems that a firm can use to produce outputs |
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Economic dimension |
the general economic environment in the markets where the firm performs activities -GDP -inflation -unemployment |
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Political dimension |
refers to the political events and activities in a market that affect a firm -fees -permits -restrictions |
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Legal dimension |
the regulations and laws that a firm encounters in its markets |
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Socio-cultural dimension |
demographic characteristics as well as the values and customs of a society |
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Global dimension |
the extent that a company affects or is affected by firms or other entities in foreign countries |
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Task environment |
includes entities that directly affect a firm a firm on a constant basis and include competitors, suppliers and customers |
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Competitors |
any organization that creates goods or services targeted at a similar group of customers |
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Social values |
the deeply rooted system of principles that guide individuals in their everyday choices and interactions |
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Suppliers |
a company that provides resources of services for a firm to help in its creation or products and services |
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Customers |
the people or other organizations that buy a firm's products and services |
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Internal environment |
a group of parties or factors that directly impact a firm, including owners, board of directors, employees, and culture |
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Owners |
the people or institutions that maintain a legal control of an organization |
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Board of directors |
a group of individuals elected by shareholders and charged with overseeing the general direction of the firm |
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Employees |
the people who make the products and provide the services that allow a firm to exist |
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Culture |
pattern of basic assumptions about the way in which an organization and individuals in it should work and interact with each other |
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Corporate social responsibility |
the moral obligation approach argues that companies have a duty to be good citizens and should balance the interests of shareholders with the interests of the community in which they operate |