Mgmt 425 Ch 3

  1. structures, processes, and activities by which a nation governs itself
    political system
  2. political system in which individuals govern without the support of the people, tightly control people's lives, and do not tolerate opposing viewpoints
    totalitarian system
  3. political system in which a country's religious leaders are also its political leaders
  4. political system under the control of totalitarian religious leaders
    theocratic totalitarianism
  5. political system in which leaders rely on military and bureaucratic power
    secular totalitarianism
  6. belief that social and economic equality can be obtained only by establishing an all-powerful Communist Party and by granting the government ownership and control over all types of economic activity
  7. belief that social and economic equality is obtained through government ownership and regulation of the means of production
  8. political system in which government leaders are elected directly by the wide participation of the people or by their representatives
  9. democracy in which citizens elect individuals from their groups to represent their political views
    representative democracy
  10. segment of the economic environment comprising independently owned firms that seek to earn profits
    private secotr
  11. belief that ownership of the means of production belongs in the hands of individuals and private businesses
  12. likelihood that a society will undergo political changes that negatively affect local business activity
    political risk
  13. forced transfer of assets form a company to the government without compensation
  14. forced transfer of assets from a company to the government with compensation
  15. government takeover of an entire infant industry
  16. laws stipulating that a specified amount of good or service be supplied by producers in the domestic markets
    local content requirements
  17. A 1977 stature that forbids U.S. companies from bribing government officials or political candidates in other nations
    Foreign Corrupt Practices Act
  18. set of laws and regulations including the processes by which a country's laws are enacted and enforced and the ways in which its courts hold parties accountable for their actions
    legal system
  19. devotion of a people to their nation's interests and advancement
  20. legal system based on a country's legal history (tradition), past cases that have come before its courts (precedent), and how laws are applied in specific situations (usage)
    common law
  21. legal system based on a detailed set of written rules and statutes that constitute a legal code
    civil law
  22. legal system based on religious teachings
    theocratic law
  23. property that results from people's intellectual talent and abilities
    intellectual property
  24. legal rights to resources and any income they generate
    property rights
  25. patents and trademarks
    industrial property
  26. property right granted to the inventor of a product or process that excludes others from making, using, or selling the invention
  27. property right in the form of words or symbols that distinguish a product and its manufacturer
  28. property right giving creators of original works the freedom to publish or dispose of them as they choose
  29. international treaty that protects copyrights
    Berne Convention
  30. responsibility of manufacturers, sellers, individuals, and others for damage, injury, or death caused by defective products
    product liability
  31. tax leveled on each party that adds value to a product throughout its production and distribution
    value added tax (VAT)
  32. laws designed to prevent companies from fixing prices, sharing markets, and gaining unfair monopoly advantages
    antitrust laws
  33. personal behavior in accordance with guidelines for good conduct or morality
    ethical behavior
  34. practice of companies going beyond legal obligations to actively balance commitments to investors, customers, other companies, and communities
    corporate social responsibility
  35. environmental impact of greenhouse gases
    carbon footprint
  36. international organization formed after World War II to provide leadership in fostering peace and stability around the world
    United Nations (UN)
Card Set
Mgmt 425 Ch 3
Mgmt 425 Ch 3