IMS 3310 Test I (Graded A+ actual test)

Multidomestic company (MDC) - ️️An organization with multicountry affiliates, each of which formulates its own business strategy based on perceived market differences Foreign business - ️️The operations of a company outside the home or domestic market Global company (GC) - ️️An organization that attempts to standardize and integrate operations worldwide in most or all functional areas International company (IC) - ️️Either a global or multinational company International business - ️️Domestic, foreign, and international forces Domestic business - ️️Deals with the domestic market, faces foreign competition in domestic market Environment - ️️All forces surrounding and influencing the life and development of a firm International business - ️️A business whose activities are carried out across national borders Uncontrollable forces - ️️External forces over which management has no direct control, although it can exert influence Controllable forces - ️️Internal forces that management administers to adapt to chances in the uncontrollable forces Competitive forces - ️️Competitors, their number, locations, activities Distributive forces - ️️Agencies available for distributing goods and services Economic forces - ️️GNP, GNI, unit labor cost Socioeconomic forces - ️️Characteristics and distribution of populations Financial forces - ️️Interest and inflation rates, taxation, etc. Legal forces - ️️Laws governing international operations of MNCs Physical forces - ️️Topography, climate, natural resourcesPolitical forces - ️️Local political climate, government structure, international organizations Sociocultural forces - ️️Culture, attitudes, values, beliefs of the local environment Labor forces - ️️Composition, skills, and attitudes of local labor Technological forces - ️️Technical skills and equipment converting resources into products Foreign environment - ️️All uncontrollable forces originating outside the home country that surround and influence the firm International environment - ️️Interaction between domestic and foreign environmental forces or between sets of foreign environmental forces