international business

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Key Terms & Concepts

Globalization

Glocalization

Prime Characteristics of Globalization:

Interdependencies among nations

Transparency

Seamless international marketplace

Blending/merging of cultures

Integration vs Assimilation

Importance of International Trade:

Maximizing production & efficiency

Increasing market audience

Receiving foreign direct investment

Global vs Domestic business:

Scope

Culture

Market factors

Management skills

International transactions

Pax Romana

Magna Carta Libertatum

Industrial revolution

Information age

Pax Americana

Driving Forces of Globalization:

Barriers to trade

Foreign investment

Communication/Transportation technologies

Multinational corporations

International Organization of Standardization (ISO)

Corporate Integration:

Vertical

Horizontal

Diversified

Political Risks:

Transfer

Operational

Ownership Control

Macro Impacts of Globalization:

Political

Economic

Social

Cultural

Global business manager

Knowledge, skills, & attributes (KSAs)