International Business By David Kang
Chapter 5: International Trade Agreements and Organization
C.P.TPP
Comprehensive and Progressive Agreement for Trans-Pacific Partnership
A trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
USMCA Pros and Cons
Making farmers run out of business
Losing money on most trades
Free Trade
Was not Shut down by Trump AKA NAFTA
Pros and Cons on Globalization
Cons
lose moneyin the process
Could not get any sales
Might not be the same
Pros
Could be more famous in other countries
Be more well known
Expanding
It would help the organization a lot expanding around the world
Chapter 6: NGO's and Social Responsibility
Benefits of CSR
Corporate social responsibilities
Attract positive attention from the media
Investors are more likely to back a reputable business
Easier to access finance
Ethics and Corporate Social Responsibility
Individuals are accountable for fulfilling their civic duty; the actions of an individual must benefit the whole of society
Stakeholders
People whose interest in a company comes through a direct relationship, such as employment, ownership or investment
Microcredit
Lending of small amounts of money at low interest to new businesses in the developing world.
Chapter 7: Marketing
SWOT Analysis
A study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats
Direct VS Indirect Competition
The term contrasts with direct competition, in which businesses are selling products or services that are essentially the same
Indirect competition is the conflict between vendors whose products or services are not the same but that could satisfy the same consumer need
Marketing Mix
2 C's
Competition
Consumers
4 P's
Price
Premotion
Place
Consumer Behaviour
Is concerned with understanding both how purchase decisions are made and how products or services are consumed or experienced
Product Life Cycle
Chapter 8: Logistics
Vertical and Horizontal Integration
Horizontal Integration
The process of a company increasing production of goods or services at the same part of the supply chain
Vertical Integration
The combination in one company of two or more stages of production normally operated by separate companies
J.I.T Systems
Just-in-time manufacturing
A method aimed primarily at reducing times within production system as well as response times from suppliers and to customers
Logistics
The detailed coordination of a complex operation involving many people, facilities, or supplies
Demographics
Statistical data relating to the population and particular groups within it
Pest Analysis
A measurement tool which is used to assess markets for a particular product or a business at a given time frame
Chapter 4: Economics and Politics
The Business Cycle/ Circular Flow Model
Subtopic
Political System
A political system is a system of politics and government. It is usually compared to the legal system, economic system, cultural system, and other social systems
Absolute and Comparative Advantages
The ability of a party to produce a particular good or service at a lower opportunity cost than another
GDP
Product
Domestic
GDP is a monetary measure of the market value of all the final goods and services produced in a period of time
Gross
Absolute and Relative Poverty
A condition where household income is below a necessary level to maintain basic living standards
Economic Systems
An economic system is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area
Chapter 3: Culture
Impact of Culture on business
Meeting
Gift Giving
Punctuality
Negotiations
Culture Presentation
Showing that you follow a certain culture by the way you dress, act, speak etc.
Counter Culture
A way of life and set of attitudes opposed to or at variance with the prevailing social norm.
Subculture
A cultural group within a larger culture, often having beliefs or interests at variance with those of the larger culture.
Culture
The arts and other manifestations of human intellectual achievement regarded collectively.
Chapter2: Trade in the Modern World
Currency Fluctuations
Losers
who get the least amount
Winners
would be the people who would get more out of it
Protectionism
The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports
Embargos
An official ban on trade or other commercial activity with a particular country
Quotas
A fixed share of something that a person or group is entitled to receive or is bound to contribute
Tariffs are taxes given on trades
Forms of doing International Business
Foreign Subsidiaries
A partially or wholly owned company that is part of a larger corporation with headquarters in another country
Joint Ventures
A business entity created by 2 or more companies
Franchising
grant a franchise for the sale of goods or the operation of a service
Licensing
Permission or permit to do
Value Added
The amount by which the value of an article is increased at each stage of its production, exclusive of initial costs
Exporting
Giving goods to other countries
Branch Based Economies
Aspects of microeconomics filter into macro-economics. For example, if you take the study of developing economies, this involves both looking at micro-aspects of development (agricultural markets) and macro-aspects like growth
Importing
Receiving goods from other countries
Chapter 1: Trade
How International Trade Benefits Canada
We can't grow crops in certain seasons so getting the crops we need during the cold harsh seasons
Free trade
Price differences
Getting imports that could benefits us
How International Trade hurts Canada
Support of Non-Democratic Systems.
May not get as much then when we traded
Tariffs
Interdependence
Tertiary Industries
The tertiary sector or service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector, and the primary sector.
Secondary Industries
industry that converts the raw materials provided by primary industry into commodities and products for the consumer; manufacturing industry.
Primary Industries
Industry, such as mining, agriculture, or forestry, that is concerned with obtaining or providing natural raw materials for conversion into commodities and products for the consumer.
Globalization
Moving to other countries to get more sales
Start to operate on a global scale
NAFTA
NAFTA is now called the USMCA
NAFTA is a free trade agreement from 3 countries and they are Mexico, America, and Canada.
North, American, Free, Trade, Agreement
