international business chapter 5

  1. Agreement on Internal Trade (AIT):
    an arrangement among Canadian governments intended to harmonize relations and standards among provinces
  2. Asia-pacific economic cooperation (APEC):
    a forum for officials of countries bordering on the pacific ocean to promote trade among their countries
  3. Association of South East Asian Nations (ASEAN):
  4. Bilateral Trade
    trade between two countries
  5. Ethnocentric MNC
    evaluation or view of others compared only to ones own criteria or views
  6. European Union (EU):
    political and economic alliance of 15 European countries that have eliminated trade barriers among them
  7. Franchise:
    a type of business in which a company authorizes a group or an individual to sell its goods and services for a period of time in a particular territory or location, and under contractual arrangements, usually involving a fee and percentage of revenue or profits
  8. Free Trade Area of the Americas (FTAA)
    proposed integration of economies of the western hemisphere into a single free trade zone
  9. Free-trade zones
    international trade without the imposition of tariffs or other barriers to the movement of goods and services
  10. G-20:
    an international forum of finance ministers, and central bank governors from 19 countries, the European union, the international monetary fund, and the world bank
  11. Geocentric MNC:
    view or perspective from a particular geographic area
  12. Globalization:
    the groth and spread of interactive international businesses and economies around the world
  13. International Chamber of Commerce (ICC)
    • world business organization that promotes an open
    • international trade
    • maket economy
    • investment system
  14. International Monetary Fund (IMF):
    • multinational government organization that focuses on 
    • international monetary cooperation 
    • stability in foreign exchange
  15. Multilateral Trade
    international trade between more than two countries
  16. Multinational Company (MNC):
    transitional company or business enterprise that conducts business in several countries
  17. North American Free Trade Agreement (NAFTA):
    an agreement among Canada, the united states and Mexico that has the gaol of creating  a free trade zone among the three countries
  18. Organization for Economic Cooperation and Development (OECD):
    monetoring agency that offers governments a setting to discuss and develop social and economic policies
  19. Polycentric MNC
    Polycentrism can be defined as a host country orientation; which reflects host countries goals and objectives with respect “to different management strategies and planning procedures with regard to international operations
  20. Strategic Alliance
    two or more businesses cooperating to co-produce co-develop and/or  co-market their products
  21. Trading Bloc:
    a group of contries that have agreed to open their market to cross border trade and business development
  22. World Economic Forum (WEF):
    and independent not for profit organization commited to raise the level of coroporate  citizenship in member countries
Card Set
international business chapter 5