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19 Cards in this Set
- Front
- Back
GDP
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measure of the market value of all goods and services produced within the boundaries of a nation, regardless of the asset ownership
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GNP (GDI)
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Total monetary value of goods and services produced in a year by the nationals, or residents, of a country. Includes income that nationals earn abroad, but does not include income earned within a country by foreigners.
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International Marketing
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Performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for profit.
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Self-Reference Criterion (SRC)
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an unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions.
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Ethnocentrism
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the notion that one's own culture or company knows best how to do things
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International Monetary Fund
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Objectives are:
-stabalize foreign exchange rates -establish free convertible currencies to facilitate the expansion and balanced growth of international trade |
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Culture
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Society's accepted basis for responding to external and internal events
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Full Understanding of a society's actions
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-influence of historical events
-geographical uniqueness to which a culture has to adapt |
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4 Global Population Trends
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-Controlling population growth
-Rural/urban migration -Population decline and aging -Worker shortages and immigration |
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Elements of Culture
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-Aesthetics
-Economy-Technology & Political -Human and the Universe -Language (s) Social Institutions |
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Effects of Culture
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-Beliefs
-Customs -Rituals -Rules -Values |
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Cultural Electives
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Relate to the areas of behavior or to customs that cultural aliens may wish to conform to or participate in but that are not required
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Cultural Exclusives
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Those customs or behavior patterns reserved exclusively for the locals and from which the foreigner is barred.
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M Time
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Monochromatic- do one thing at a time, make commitments
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P Time
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Polychromatic- Do many things a once, commitments are flexible and low priority
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Expropriation
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where the government siezes an investment but some reimbursement for the assets is made.
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Keys to Lessening Political Vulnerability
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-Balance of payments improves by increasing exports or reducing imports through import substitution
-Use locally produced resources -Transfers capital, technology, and or skills -Creates jobs -Makes tax contributions |
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Keys to Lowering Economic Risk
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-Choose lower risk method of entry
-Choose good or local partner -Expand investment base -Planned domestication -Buy political risk insurance -Be a good "local" citizen |
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OPIC- Overseas Private Investment Corporation
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-US Government Agency
-Sells political risk insurance -Profitable every year since 1971 |