International Business Overview

These flashcards cover key concepts, definitions, and terminology related to international business, globalization, and economic indicators.

Global Integration

Understanding how economies are interconnected and how it impacts business operations across borders.

Career Advancement

Knowledge of international business practices enhances career prospects, especially in multinational corporations.

Navigating Global Challenges

Equipped to deal with trade tariffs, regulations, and competitive dynamics in international business.

Multinational Enterprises (M&Es)

Large corporations that operate across various countries and perform foreign direct investment (FDI).

Foreign Direct Investment (FDI)

Owning and controlling value-added activities in a foreign country.

Small and Medium-Sized Enterprises (SMEs)

Companies with fewer than 500 employees.

Born Globals

SMEs that start international operations within three years of establishment.

Emerging Markets

Countries with newly established political and economic frameworks for international trade and investment.

Gross Domestic Product (GDP)

Total value of all products and services produced within a country in one year, reflecting economic performance.

Globalization

The increasing integration of countries and markets driven by reduced costs in transportation and communication.

Social Entrepreneurship

Addressing societal challenges while creating social and financial wealth through international support networks.

Path Dependence

How historical choices impact current strategies and decisions in businesses.

Purchasing Power Parity (PPP)

A method to compare currencies of different countries by considering the purchasing power of currencies.

Institution-Based View

Focus on how external environments affect business strategies and operations.

Resource-Based View

Emphasizes leveraging unique internal resources to succeed in various environments.