Exam 1 Cheat Sheet - International and Computer Dimension Business | MKT 310, Study notes of Marketing

Download Exam 1 Cheat Sheet - International and Computer Dimension Business | MKT 310 and more Study notes Marketing in PDF only on Docsity! Terms #Globalization*-Silk Road, Shift toward interdependent world economy/*of production-sourcing G+S from around globe to take adv. of Factors of Production-(Land,Labor,Capital,Energy) #Drivers of-Reduction of transportation/transaction costs, and technological change GATT-International treaty that lowered barriers to free flow of good across national borders, leading to WTO-Policing world trade system and making sure countries abide by GATT IMF-Set up to maintain order in the international system w/ World Bank established to promote general economic development in the world’s poorer nations Types of Service: Hard-Ex. Computers, Tangibility/Soft-Ex. Restaurants, Intangibility Moore’s Law-Power of microprocessor technology doubles and its costs fall in half every 18 months Foreign Corrupt Practices Act-Limits Corruption in the US. More developed country, less corrupt Risks-the likelihood that [TERM] will cause drastic changes in a country's business environment that adversely affects the profit and other goals of a business enterprise: political forces, economic mismanagement, legal trading partner will break contract Helping Bottom Billion-Aid, Military Intervention, International Charters, Trade Policy Forms: M-Multidivisional, smaller companies using brand name, U-Unitary Laws: Common-Precedence, Code/Civil/Contract-Registration, Theocratic-Religious Action: Private-Theft/blackmail and the like by private parties, Public-Extortion of income by politicians Intellectual Property-Patent grants inventor exclusive rights for a period, Copyright is for entertainment business mainly, Trademarks are for designs and names. Domestic Policy: Regulatory-Rules apply to everyone, Developmental-Laws established to meet a goal International Autonomy: Security-Let people feel safe, Prosperity-Let people get rich Balance of Values: Efficiency- , Equity-Attempt to redistribute the wealth Economic Development: GNI-Gross National Income (Slower growth rates=Higher GNI), PPP- Purchasing Power Parity, adjustment provides a more direct comparison of living standards Human Development Index-Measurement of quality of human life in different nations Deregulation-Involves removing legal restrictions on the free play of markets, the establishment of private enterprises, and the manner in which private enterprises operate Privatization-Transfers the ownership of state property into the hands of private investors Self-Reference Criterion-We all have an automatic and unconscious tendency to use our own thought framework (built around our own culture) to evaluate others Ethnocentrism-The belief that one’s culture is superior to others Context: High-Individual behavior depends on situation, one culture group, greater emphasis on general agreement with business partners Ex. Japanese, Low-Individual behavior depends on words, not situation, occurs in multicultural countries, rely on contractual agreements Ex. United States Silent Languages of Culture-Space, Material Possessions, Friendship Patterns, Agreements Among Cultures, Time Patina-The indicator of age that gives things value Frame vs. Attribute-Frame: Everything must be put into a frame to give it meaning (Japan) Uncertainty Avoidance: Low-Take risks, high stress, deviant persons and ideas are tolerated; belief is place in generalists and common sense, High-Opposite of Low Power Distance: High-Ordered inequality in the world, superiors are inaccessible; decision-making is limited to superiors, Low-Opposite of High Masculinity-Differentiated sex roles, one sex dominates, live to work, independence, Femininity-Opposite Cross-Culture Literacy-Understanding how the culture of a country affects the way business is practiced Folkways-Routine conventions of everyday life, Mores-Norms seen as central to the functioning of society Modules Mudarabah Accounts-Money invested in ventures, everyone shares in profits/loss. No interest. Hinduism-Caste system, Dharma-Moral force to accept responsibilities. Reincarnation, Nirvana. Japan-Many Shinto/Buddhist, Meishi is exchange of business cards, much buying from small stores.