Study Guides (238,207)
Canada (115,009)
Management (313)
MGM102H5 (37)

Test 2 Notes

23 Pages
Unlock Document

University of Toronto Mississauga
Ayesha Khan

MGM102International Business II Canada Culture and Ethics1 What is the global economy In the global economy resources markets and competition are worldwide in scope 2 Describe globalizationGlobalization is the process of growing interdependence among elements of the global economy 3 What is international management International management involves managing operations in more than one country 4 What is a global manager A global manager is culturally aware and informed about international affairs 5 What is the European Union EU The EU is a political and economic alliance of European countries 6 What is the Euro The Euro is the common European currency 7 What are Maquiladoras Maquiladoras are foreign manufacturing plants that operate in Mexico with special privileges such as importing duty free 8 What is an international business An international business conducts commercial transactions across nation boundaries 9 Why do businesses go international 1 Profit greater profit potential 2 Customers new markets to sell productsservices 3 Suppliers access to needed raw materials 4 Capital access to financial resources 5 Labour access to lowercost labour 10 What are market entry strategies Market entry strategies include global sourcing importingexporting and licensing and franchising that involve the sale of goods or services to foreign markets but do not require expensive capital investment 11 What are direct investment strategies Direct investment strategies include joint ventures and wholly owned subsidiaries that require major capital commitments but create rights of ownership and control over operations in the foreign country12 What is the most favoured nation status The most favoured nation status gives a trading partner most favourable treatment for imports and exports 13 What is protectionism Protectionism is a call for tariffs and favourable treatments to protect domestic firms from foreign competition 14 What is a multinational corporation MNC A multinational corporation is a business with extensive international operations in more than one foreign country15 What is a transnational corporation A transnational corporation is a MNC that operates worldwide on a borderless basis 16 What are the mutual benefits of MNChostcountry relationships Shared opportunities with the potential for a Growth b Income c Learning d Development 17 What are the hostcountry complaints about MNCs a Excessive profits b Economic domination c Interference with government d Hire best local talent e Limited technology transfer f Disrespect for local customs 18 What are the MNC complaints about host countries a Profit limitations b Overpriced resources c Exploitative rules d Foreign exchange restrictions e Failure to uphold contracts 19 What are the ethical issues for MNCs a Corruption b Sweatshops c Child labour d Sustainable development 20 What is sustainable development Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs 21 What are lowcontest cultures
More Less

Related notes for MGM102H5

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.