Bus 452 - Chapter 610 terms
Organizational Culture Shared values and beliefs that enable members to understand their roles in and the norms of the orga… Family Culture A culture that is characterized by a strong emphasis on hierarchy and orientation to the person. Eiffel Tower Culture A culture that is characterized by strong emphasis on hierarchy and orientation to the task. Guided Missile Culture A culture that is characterized by strong emphasis on equality in the workplace and orientation to t… Incubator Culture A culture that is characterized by strong emphasis on equality and orientation to the person. Homogeneous Group A group in which members have similar backgrounds and generally perceive, interpret, and evaluate ev… Token Group A group in which all members but one have the same background, such as a group of Japanese retailers…
Bus 452 - Chapter 1115 terms
Decision Making The process of choosing a course of action among alternatives. Codetermination A legal system that requires workers and their managers to discuss major decisions. Ringisei A Japanese term that means "decision making be consensus." Tatemae A Japanese term that means "doing the right thing" according to the norm. Honne A Japanese term that means "what one really wants to do." Total Quality Management (TQM) An organizational strategy and the accompanying techniques that result in the delivery of high-quali… Empowerment The process of giving individuals and teams the resources, information, and authority they need to d…
Bus 452 - Chapter 917 terms
Wholly owned subsidiary An overseas operation that is totally owned and controlled by an MNC. Merger/acquisition The cross-border purchase or exchange of equity involving two or more companies. Alliance Any type of cooperative relationship among different firms. Joint venture (JV) An agreement under which two or more partners own or control a business. License An agreement that allows one party to use an industrial property right in exchange for payment to th… Franchise A business arrangement under which one party (the franchisor) allows another (the franchisee) to ope… International division structure A structural arrangement that handles all international operations out of a division created for thi…
Bus 452 - Chapter 817 terms
Strategic management The process of determining an organization's basic mission and long-term objectives, then implementi… Economic imperative A worldwide strategy based on cost leadership, differentiation, and segmentation. Political imperative Strategic formulation and implementation utilizing strategies that are country-responsive and design… Quality imperative Strategic formulation and implementation utilizing strategies of total quality management to meet or… Administrative coordination Strategic formulation and implementation in which the MNC makes strategic decisions based on the mer… Global integration The production and distribution of products and services of a homogenous type and quality on a world… National responsiveness The need to understand the different consumer tastes in segmented regional markets and respond to di…
Bus 452 - Chapter 1313 terms
Leadership The process of influencing people to direct their efforts towards the achievement of some particular… Theory X manager A manager who believes that people are basically lazy and that Corson and threats of punishment ofte… Theory Y manager A manager who believes that under the right conditions people not only will work hard but will seek … Theory Z manager A manager who believes that workers seek opportunities to participate in management and are motivate… Authoritarian leadership The use of work-centered behavior designed to ensure task accomplishment. Paternalistic leadership The use of work-centered behavior coupled with a protective employee-centered concern. Participative leadership The use of both work- or task-centered approaches to leading subordinates.
Bus 452 - Chapter 1223 terms
Motivation Psychological process through which unsatisfied wants or needs lead to drives that are aimed at goal… Intrinsic A determinant of motivation by which an individual experiences the carrying out an activity itself a… Extrinsic A determinant of motivation by which the extertal environment and result of the activity in the form… Content theories of motivation Theories that explain work motivation in terms of what arouses, energizes, or initiates employee beh… Process theories of motivation Theories that explain work motivation by how employee behavior is initiated, redirected, and halted. Physiological needs Basic physical needs for water, food, clothing, and shelter. Safety needs Desires for security, stability, and the absence of pain.
Bus 452 - Chapter 1425 terms
Home-country nationals Expatriate managers who are citizens of the country where the multinational corporation is headquart… Expatriates Managers who live and work outside their home country. They are citizens of the country where the mu… Host-country nationals Local managers who are hired by the MNC. Third-country nationals (TNCs) Managers who are citizens of countries other than the country in which the MNC is headquartered or t… Inpatriates Individuals from a host country or third-country nationals who are assigned to work in the home coun… International selection criteria Factors used to choose personnel for international assignments. Adaptability screening The process of evaluating how well a family is likely to stand up to the stress of overseas life.
Bus 452 - Chapter 1015 terms
Political risk The unanticipated likelihood that a business's foreign investment will be constrained by a host gove… Macro political risk analysis Analysis of that reviews a major political decisions likely to affect all Interprises in the country. Micro political risk analysis Analysis directed toward government policies and actions that influence selected to sectors of the e… Terrorism The use of force or violence against others to promote political or social views. Expropriation The seizure of businesses by a host country with little, if any, compensation to the owners. Indigenization laws Laws that require nationals to hold a majority interest in operation. Transfer risks Government policies that limit the transfer of capital, payments, production, people, and technology…
Bus 452 - Chapter 727 terms
Communication The process of transferring meanings from sender to receiver. Context Information that surrounds and communication and helps convey the message. Downward communication The transmission of information from managers to subordinate. Upward communication The transfer of meaning from subordinates to superior. Perception A person's view of reality. Nonverbal communication The transfer of meaning through means such as body language and the use of physical space. Kinesics The study of communication through body movements and facial expression.
Bus 452 - Chapter 58 terms
Ethnocentric predisposition A nationalistic philosophy of management whereby the values and interests of the parent company guid… Polycentric predisposition A philosophy of management whereby strategic decisions are tailored to suit the cultures of the coun… Regieocentric predisposition A philosophy of management whereby the firm tries to blend its own interests with those of its subsi… Geocentric predisposition A philosophy of management whereby the company tries to integrate a global systems approach to decis… Globalization imperative They believe that one worldwide approach to doing business is the key to both efficiency and effecti… Parochialism The tendency to view the world through one's own eyes and perspectives. Simplification The process of exhibiting the same orientation towards different cultural groups.
Bus 452 - Chapter 418 terms
Culture Acquired knowledge that people used to interpret experience and generate social behavior. This knowl… Values Basic convictions that people have regarding what is right and wrong, good and bad, important and un… Power distance The extent to which less powerful members of institutions and organizations except that power is dis… Uncertainty avoidance The extent to which people feel threatened by ambiguous situations and have created beliefs and inst… Individualism The tendency of people to look after themselves and their immediate family only. Collectivism The tendency of people to belong to groups or collective and to look after each other in exchange fo… Masculinity A cultural characteristic in which the dominant values in society are success, money, and things.
Bus 452 - Chapter 217 terms
Individualism The political philosophy that people should be free to pursue economic and political endeavors witho… Collectivism The political philosophy that abuse the needs or goals of society as a whole as more important than … Socialism A moderate form of collectivism in which there is government ownership of institutions and profit is… Democracy A political system in which the government is controlled by the citizens either directly or through … Totalitarianism A political system in which there is only one representative party which exhibits control over every… Islamic law Law that is derived from interpretation of the Qur'an and the teachings of the Prophet Mohammed and … Socialist Law Law that comes from the Marxist socialist system and continues to influence regulations in countries…
Bus 452 - Chapter 115 terms
Management Process of completing activities efficiently and effectively with and through other people. International Management Process of applying management concepts and techniques in a multinational environment and adapting m… MNC A firm having operations in more than one country, international sales, and a nationality mix among … Globalization The process of social, political, economic, cultural, and technological integration among countries … Offshoring The process by which companies undertake some activity at offshore locations instead of in their cou… Outsourcing The subcontracting or contracting out of activities to external organizations of that had been previ… World Trade Organization (WTO) The global organization of countries that oversees rules and regulations for international trade and…
Bus 302 - Chapter 1647 terms
Retailing The final stop in the distribution channel in which organizations sell goods and services to consume… Wheel-of-Retailing Hypothesis A theory that explains how retail firms change, becoming more upscale as they go through their life … Retail Life Cycle A theory that focuses on the the various stages that retailers pass through from introduction to dec… Mergers When two or more separately owned retail firms combine. Downsizing When a firm in a mature industry coses or sells off unprofitable stores or entire divisions. Point-of-Sale (POS) Systems Retail computer systems that collect sales data and are hooked directly into the store's inventory-c… Perpetual Inventory Unit Control System Retail computer system that keeps a running total on sales, returns, transfers to other stores and s…
Bus 302 - Chapter 1537 terms
Supply Chain All the activities necessary to turn raw materials into a good or service and put it in the hands of… Supply Chain Management The management of flows among firms in the supply chain to maximize total profitability. Insourcing A practice in which a company contracts with a specialist firm to handle all or part of its supply c… Channel of Distribution The series of firms or individuals that facilitates the movement of a product from the producer to t… Channel Intermediaries Firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from… Breaking Bulk Dividing larger quantities of goods into smaller lots in order to meet the needs of buyers. Creating Assortments Providing a variety of products in one location to meet the needs of buyers.
Bus 302 - Chapter 1434 terms
Trade Promotions Promotions that focus on members of the "trade," which include distribution channel members, such as… Merchandising Allowance Reimburses the retailer for in-store support of the product. Case Allowance A discount to the retailer or wholesaler based on the volume of product ordered. Co-Op Advertising A sales promotion where the manufacturer and the retailer share the cost. Trade Shows Events at which many companies set up elaborate exhibits to show their products, give away samples, … Promotional Products Goodies such as coffee mugs, T-shirts, and magnets given away to build awareness for a sponsor. Some… Point-of-Purchase (POP) Displays In-store displays and signs.
Bus 302 - Chapter 1381 terms
Product Advertising Advertising messages that focus on a specific good or service. Institutional Advertising Advertising messages the promote the activities, personality, or point of view of an organization or… Corporate Advertising Advertising that promotes the company as a whole instead of a firm's individual products. Advocacy Advertising A type of public service advertising where an organization seeks to influence public opinion on an i… Public Service Advertisements (PSAs) Advertising run by the media for not-for-profit organizations or to champion a particular cause with… Advertising Campaign A coordinated, comprehensive plan that carries our promotion objectives and results in a series of a… Limited-Service Agency An agency that provides one or more specialized services, such as media buying or creative developme…
Bus 302 - Chapter 1022 terms
Intangibles Experience-based products. Services Intangible products that are exchanged directly from the producer to the customer. Intangibility The characteristic of a service that means customers can't see, touch, or smell good service. Perishability The characteristic of a service that makes it impossible to store for later sale or consumption. Capacity Management The process by which organizations adjust their offerings in an attempt to match demand. Variability The characteristic of a service that means that even the same service performed by the same individu… Inseparability The characteristic of a service that means that it is impossible to separate the production of a ser…
Bus 302 - Chapter 935 terms
Product Management The systematic and usually team-based approach to coordinating all aspects of a product's marketing … Product Line A firm's total product offering designed to satisfy a single need or desire of target customers. Product Line Length Determined by the number of separate items within the same category. Cannibalization The loss of sales of an existing brand when a new item in a product line or product family is introd… Product Mix The total set of all products a firm offers for sale. Product Mix Width The number of different product lines the firm produces. Product Quality The overall ability of the product to satisfy customers' expectations.
Bus 302 - Chapter 849 terms
Good A tangible product that we can see, touch, smell, hear, or taste. Attributes Include features, functions, benefits, and uses of a product. Marketers view products as a bundle of… Core Product All the benefits the product will provide for consumers or business customers. Actual Product The physical good or the delivered service that supplies the desired benefit. Augmented Product The actual product plus other supporting features such as a warranty, credit, delivery, installation… Durable Goods Consumers products that provide benefits over a long period of time, such as cars, furniture, and ap… Nondurable Goods Consumer products that provide benefits for a short time because they are consumed (such as food) or…
Bus 302 - Chapter 737 terms
Market Fragmentation The creation of many consumer groups due to a diversity of distint needs and wants in modern society. Target Marketing Strategy Dividing the total market into different segments on the basis of customer characteristics, selectin… Segmentation The process of diving a larger market into smaller pieces based on one or more meaningfully shared c… Segmentation Variables Dimensions that divide the total market into fairly homogeneous groups, each with different needs an… Generation Y The group of consumers born between 1979 and 1994. Demographics Statistics that measure observable aspects of a population, including size, age, gender, ethnic grou… Generational Marketing Marketing to members of a generation, who tend to share the same outlook and priorities.
Bus 305 - Chapter 717 terms
Total Holding Period Return The total return on an asset over a specific period of time or holding period. Expected Return An average of the possible returns from an investment, where each return is weighted by the probabil… Variance (σ2) A measure of the uncertainty associated with an outcome. Standard Deviation (σ) The square root of the variance. Normal Distribution A symmetric frequency distribution that is completely described by its mean and standard deviation; … Portfolio The collection of assets an investor owns. Diversification Reducing risk by investing in two or more assets whose values do not always move in the same directi…
Bus 305 - Chapter 615 terms
Annuity A series of equally spaced and level cash flows extending over a finite number of periods. Perpetuity A series of level cash flows that continue forever. Ordinary Annuity An annuity in which payments are made at the ends of the periods. Present Value of an Annuity (PVA) The present value of the cash flows from an annuity, discounted at the appropriate discount rate. Amortizing Loan A loan for which each loan payment contains repayment of some principle and a payment of interest th… Amortization Schedule A table that shows the load balance at the beginning and end of each period, the payment made during… Future Value of an Annuity (FVA) The vale of an annuity at some point in the future.
Bus 305 - Chapter 512 terms
Time Value of Money The difference in value between a dollar in hand today and a dollar promised in the future; a dollar… Time Zero The beginning of a transaction; often the current point in time. Future Value (FV) The value of an investment after it earns interest for one or more periods. Principal The amount of money on which interest is paid. Simple Interest Interest earned on the interest that was earned in previous periods. Compounding The process by which interest earned on an investment is reinvested, so in future periods interest i… Compound Interest Interest earned both on the original principal amount and on interest previously earned.
Bus 305 - Chapter 443 terms
Financial Statement Analysis The use of financial statements to evaluate a company's overall performance and assess its strengths… Trend Analysis Analysis of trends in financial data. Benchmark A standard against which performance is measured. Common-size Financial Statement A financial statement in which each number is expressed as a percent of a base number, such as total… Financial Ratio A number from a financial statement that has been scaled by dividing by another financial number ROE Net Income / Stockholder's Equity Insolvency The inability to pay debts when they are due.