Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
|
internationalization is generally not an easy process because of its smallness not only in size but in the skill level as well. |
small- and medium-size enterprises (SMEs) |
|
|
This is the simplest form of internationalization and it often looks like pseudo internationalization. |
Indirect Export |
|
|
Direct export is executed by manufacturer and hence the manufacturer plays all roles that include manufacturer of products, market selector, communicator to buyers abroad, price negotiator, facilitator for international transfer of products, payment receiver, and feedback acceptor from the buyer on possible areas to make products more marketable abroad in future. |
Direct Export |
|
|
is another mode entry which is becoming increasingly popular in recent days for the companies who do not want produce on their own but take the help of some specialist manufacturing concern, generally located in countries with low labor costs, for production of the desired product. |
Contract manufacturing |
|
|
a contractual mode through which a company may enter in a foreign country. In this mode of entry the entering company (licensor) agrees to allow a host company (licensee) in foreign country to use the relevant technology developed by it for commercial production of product or products for a certain period of time. |
Licensing |
|
|
a popular form of entry mode for companies that possess marketing excellence comparatively better than technology excellence. |
Franchising |
|
|
an international company enters a new country with equity participation in a local company. The international company then becomes a partner of the local company and thereafter a new jointly owned business entity is formed |
Joint Ventures |
|
|
involves greatest financial commitment to a foreign market. For entering using this mode of entry, a company has two options; one, initiate actions to develop a new facility in the foreign country and two, acquire a local business operation by outright purchase. |
Wholly Owned Foreign Enterprise |
|
|
also popularly known as the Scandinavian stage model or Uppsala model of internationalization because a few professors from famous Uppsala university of Sweden developed it. |
Process Approach |
|
|
Transaction cost economics arises when multinational companies are more efficient than their markets and contracts in organizing interdependencies between their agents that are located in different countries. |
The Transaction Cost Approach |
|
|
John Dunning put forwarded a three-factor theory, best known as Dunning’s eclectic paradigm or OLI approach, which considered a combination of three advantages, |
The Eclectic Theory |
|
|
takes a holistic approach to examining entire relationships and interactions of the various components of a business. |
Eclectic Paradigm |
|
|
focuses on the role of individuals in the internationalization process. The industrial network approach was put forwarded by the Scandinavian researchers of Uppsala University and Stockholm School of Economics, Sweden |
INDUSTRIAL NETWORK APPROACH (INA) |
