IMS 3310: Chapter 1

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International Environment

Interaction between domestic and foreign environmental forces, as well as interactions between the foreign environmental forces of two countries.

Foreign Business

The operations of a company outside its home or domestic market

International Company

A company with operations in multiple nations

Environment

All the forces influencing the life and development of the firm

Domestic Environment

All the uncontrollable forces originating in the home country that surround and influence the life and development of the firm.

Foreign Environment

All the uncontrollable forces originating outside the home country that surround and influence the firm

Transnational Corporation

An enterprise made up of entities in more than one nation, operating under a decision-making system that allows a common strategy and coherent policies.

International Business

Business that is carried out across national borders. Firm must deal with the forces of three kinds of environments-domestic, foreign, and international.

Foreign Direct Investment

Direct investments in equipment, structures, and organizations in a foreign country at a level sufficient to obtain sufficient management control

Uncontrollable Forces

The external forces that management has no direct control over

Controllable Forces

The internal forces over which management does have some control and that the management adminsters to adapt to changes in the uncontrollable forces

Economic Globalization

The tendency toward an international integration and interdependency of goods, technology, information, labor, and capital, or the process of making this tendency happen.

Exporting

The transportation of any domestic good or service to a destination outside a country or region

Importing

The transportation of any good or service into a country or region, from a foregin origination point

Self-Reference Criterion

Unconscious reference to your own cultural values when judging behaviors of others ina new and different environment


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