BUSI 3250 Midterm
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1. international Business that is carried out across national borders
business (IB)
2. foreign business Denotes the operations of a company outside its home or domestic market
3. international A company with operations in multiple nations
company (IC)
4. environment All of the forces which influence the life and development of a firm
5. External forces Called "uncontrollable forces" that management has no direct control over.
6. Internal forces Called "controllable forces" are forces in which management has gained control
over
7. domestic envi- All the forces influencing the life and development of the firm
ronment
8. foreign environ- Uncontrollable forces originating outside the home country that surround and
ment influence the firm
9. international en- Includes interaction between domestic and foreign environmental forces and
vironment between the foreign environmental forces of two countries. Decision making is
more complex
10. self-reference cri- a common cause of added complexity of foreign environments. Due to managers
terion unfamiliarity with other cultures, some managers will ascribe to others with their
own preferences and reactions
11. Three choices for transfer it intact, adapt it to local conditions, or not use it overseas
techniques em-
ployed in domes-
tic operations:
1/5
, BUSI 3250 Midterm
Study online at https://quizlet.com/_gfvp2k
12. transnational A company made up of entities in more than one nation, operating under a
corporation decision-making system with a common strategy and coherent policies. Estimated
to be more than 103,000 with nearly 900,000 foreign affiliates, accounting for
more than half of world trade. The affiliates of foreign companies have become
increasingly important in the industrial and economic life of many nations
13. foreign direct in- Direct investments in equipment, structures, and organizations in a foreign country
vestment (FDI) at a level sufficient to obtain significant management control. Does not include
mere foreign investment in stock markets
14. exporting The transportation of any domestic good or service to a destination outside a
country or region
15. importing The transportation of any good or service into a country or region, from a foreign
origination point.
16. trade deficit The amount by which the value of imports into a nation exceeds the value of exports
17. trade surplus The amount by which the value of a nation's exports exceeds the value of its
imports.
18. mercantilism Views precious metals like gold and silver as the only source of wealth. To increase
wealth, government policies should promote exports and discourage imports
19. absolute advan- Exists when a nation can produce more of a good or service than another country
tage for the same or lower price. Nations specialize in producing the product at which
they are most efficient. Nations trade their surplus for goods they cannot produce
as efficiently.
20. perfect competi- Results in a marketplace that is efficient in production and allocation of products.
tion
21. comparative ad-
vantage
2/5
Study online at https://quizlet.com/_gfvp2k
1. international Business that is carried out across national borders
business (IB)
2. foreign business Denotes the operations of a company outside its home or domestic market
3. international A company with operations in multiple nations
company (IC)
4. environment All of the forces which influence the life and development of a firm
5. External forces Called "uncontrollable forces" that management has no direct control over.
6. Internal forces Called "controllable forces" are forces in which management has gained control
over
7. domestic envi- All the forces influencing the life and development of the firm
ronment
8. foreign environ- Uncontrollable forces originating outside the home country that surround and
ment influence the firm
9. international en- Includes interaction between domestic and foreign environmental forces and
vironment between the foreign environmental forces of two countries. Decision making is
more complex
10. self-reference cri- a common cause of added complexity of foreign environments. Due to managers
terion unfamiliarity with other cultures, some managers will ascribe to others with their
own preferences and reactions
11. Three choices for transfer it intact, adapt it to local conditions, or not use it overseas
techniques em-
ployed in domes-
tic operations:
1/5
, BUSI 3250 Midterm
Study online at https://quizlet.com/_gfvp2k
12. transnational A company made up of entities in more than one nation, operating under a
corporation decision-making system with a common strategy and coherent policies. Estimated
to be more than 103,000 with nearly 900,000 foreign affiliates, accounting for
more than half of world trade. The affiliates of foreign companies have become
increasingly important in the industrial and economic life of many nations
13. foreign direct in- Direct investments in equipment, structures, and organizations in a foreign country
vestment (FDI) at a level sufficient to obtain significant management control. Does not include
mere foreign investment in stock markets
14. exporting The transportation of any domestic good or service to a destination outside a
country or region
15. importing The transportation of any good or service into a country or region, from a foreign
origination point.
16. trade deficit The amount by which the value of imports into a nation exceeds the value of exports
17. trade surplus The amount by which the value of a nation's exports exceeds the value of its
imports.
18. mercantilism Views precious metals like gold and silver as the only source of wealth. To increase
wealth, government policies should promote exports and discourage imports
19. absolute advan- Exists when a nation can produce more of a good or service than another country
tage for the same or lower price. Nations specialize in producing the product at which
they are most efficient. Nations trade their surplus for goods they cannot produce
as efficiently.
20. perfect competi- Results in a marketplace that is efficient in production and allocation of products.
tion
21. comparative ad-
vantage
2/5
