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International
Pruett International Section 1
| Term | Definition |
|---|---|
| Globalization | Process of integration among countries with a vision of a single market entity. (Social, economic, political, technical, and cultural) |
| Internationalization | When a business crosses national and cultural barriers. |
| International Management | Managing in a multinational company, adapting management practices to different economic, political and cultural environments. |
| Multinational Corporation (MNC) | Operations in more than one country; international sales; and managers from a mix of countries. |
| Economic Systems (List) | Market, Command, and Mixed |
| United States | Good Market for foreign MNC; Foreign investment welcomed; and domestic firms dominate many European markets and are gaining in Asia. |
| Canada | Biggest U.S trade partner; has big U.S. investment; legal/business environment similar to U.S. |
| Mexico | Biggest Latin American economy; very strong maqauiladora industry w/ U.S. markets; rising trade with Europe/Asia; competes with Asia for U.S. market |
| North America | Generally free market economies. |
| South America | History of high debt and high inflation; Brazil, Chile, and Argentina has strongest economies; history of trade barriers now declining. |
| European Union | Has emerged as a functional economic union; links/spread into central, southern, and south eastern areas; substantial FDI (M&A, alliances) |
| Central and Eastern Europe | Dismantling of price controls and state ownership in 90's; inflation, crime, corruption; political uncertainty |
| Japan | Phenomenal success 70's and 80's; Vertically integrated business; international competition with China and SE Asia |
| China | Annual growth of 8-11%; investors interested despite political risk, trade piracy, and restrictions |
| South Korea | Chaebols; relationship issues with China and N. Korea |
| Hong Kong | Now part of People's republic of China; wealthy free market |
| Singapore | Highly educated; high-tech |
| Taiwan | Tension with China whom claims it; high tech and industrial |
| The Tigers (List) | S. Korea, HK, Singapore, and Taiwan |
| Baby Tigers (List) | Thailand, Malaysia, and Indonesia |
| Baby Tigers | Large pop, cheap labor, natural resources, attractive to outside investors, and corruption |
| India | Huge poor pop, big middle class; growth on software; attractive to western culture |
| Middle East | Oil and NR; Unemployment, politics, and religion |
| Africa | Natural Resources; Generally poor, weak infrastructure, 1,000 languages and dialects; poverty, starvation, war, corruption; overcrowding in areas |
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