Globalization & Sustainability Final Revision Flashcards

Flashcards on Globalization & Sustainability.

The __ set binding targets for greenhouse gas emissions for Developed countries but excluded Developing nations.

Kyoto Protocol

The __ is a result of the 2015 COP21 in Paris, involving both Developed and Developing countries in addressing climate change.

Paris Agreement

The long-term temperature goal of the Paris Agreement is to limit global warming to well below aiming for .

2°C, 1.5°C

The __ served as predecessor to the SDGs.

Millennium Development Goals (MDGs)

__ are accepted principles of right or wrong that govern the conduct of a person.

Ethics

__ are situations in which none of the available alternatives seems ethically acceptable.

Ethical dilemmas

__ are payments made to obtain exclusive preferential treatment.

Bribes

__ are payments made to expedite routine government action.

Facilitating payments

__ managers working abroad in multinational firms are more likely to perform unethical behavior in a business.

Expatriate

The __ is the values and norms that are shared among employees of an organization.

organizational culture

According to the __ doctrine, the only social responsibility of business is to increase profits, so long as the company stays within the rules of law.

Friedman

__ is the belief that a multinational’s home-country standards of ethics are the appropriate ones for companies to follow in foreign countries.

Righteous moralism

__ asserts that if a manager of a multinational firm sees that firms from other nations are not following ethical norms in a host nation, that manager should not either.

Naive immoralist

In the __ approach of ethics, moral worth of actions or practices is determined by their consequences.

Utilitarianism

According to __, people should be treated as ends, because people have dignity and need to be respected; they are not machines.

Kantian ethics

__ focus on respecting fundamental human rights and privileges.

Rights theories

__ is the idea that businesspeople should consider the social consequences of economic actions when making business decisions.

Corporate social responsibility (CSR)

__ help MNE’s make profits without harming the environment, while ensuring the company operates in a socially responsible manner with regard to its stakeholders.

Sustainable strategies

__ is the economic theory of exporting more than importing.

Mercantilism

__ is producing a product efficiently and specialized.

Absolute Advantage

__ encourage free trade.

Comparative Advantage

__ reflects factor endowment.

Heckscher-Ohlin

__ states that product when mature place of production/sale change.

Product Life-Cycle Theory

According to __, nations benefit from trade even if not specialized or do not differ in factor endowment.

New Trade Theory

__ includes the firm structure, supporting industry, demand condition and factors endowment.

National Competitive Advantage

__ is the absence of barriers to the free flow of goods and services between countries.

Free Trade

__ is an international treaty that committed signatories to lowering barriers to the free flow of goods across national borders, succeeded by WTO.

General Agreement on Tariffs and Trade (GATT)

__ are a tax levied on imports that effectively raises the cost of imported products relative to domestic products.

Tariffs

__ are levied as a proportion of the value of an imported good.

Ad Valorem Tariffs

__ is a government payment to a domestic producer.

Subsidy

__ is a direct restriction on the quantity of some good that may be imported into a country.

Import Quota

__ is a hybrid of a quota and a tariff; a lower tariff is applied to imports within the quota than those over the quota.

Tariff Rate Quota

__ is a quota on trade imposed by the exporting country, typically at the request of the importing country’s government.

Voluntary Export Restraint (VER)

__ is extra profit that producers make when supply is artificially limited by an import quota.

Quota Rent

__ demand that some specific fraction of a good be produced domestically.

Local Content Requirements (LCR)

__ are bureaucratic rules designed to make it difficult for imports to enter a country.

Administrative Trade Policies

__ is selling goods in a foreign market below their cost of production or below their “fair” market value.

Dumping

__ punish foreign firms that engage in dumping, thus protecting domestic producers from unfair foreign competition.

Antidumping Policies

__ see that Strategic trade policies to establish domestic firms in a dominant position in a global industry are beggar-thy-neighbor policies.

Krugman