Busi 490 Ch. 11 Terms questions well answered

Busi 490 Ch. 11 TermsGlobal strategy - correct answer Designing, producing, and marketing products with global needs in mind, instead of solely considering individual countries. Inhwa - correct answer A South Korean term for activities that involve concern for harmony based on respect of hierarchical relationships, including obedience to authority. Reshoring - correct answer Refers to U.S. companies working offshore but planning to move some of their manufacturing back to the United States. Globalization - correct answer A process of doing business worldwide, so strategic decisions are made based on global profitability of the firm rather than just domestic considerations. Wa - correct answer In Japan, this term stresses group harmony and social cohesion. Outsourcing - correct answer Refers to the practice of firms using/paying other firms to perform certain activities, such as managing payroll, call centers, or even R&D. Protectionism - correct answer When countries impose tariffs, taxes, and regulations on firms outside the country to favor their own companies and people. Nemaswashio - correct answer U.S. managers in Japan have to be careful about this phenomenon, whereby Japanese workers expect supervisors to alert them privately of changes rather than informing them in a meeting. Guanxi - correct answer In China, business behavior is based on "personal relations."