1. 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 4.14.24.34.4 4.5

2. The trend of the world economy toward becoming a more independent system

3. Globalization

4. The buying and selling of products and services through computer networks

5. E-commerce

6. Refers to the “shrinking” of time and space as air travel and the electronic media have made it easier for the people of the globe to communicate with one another

7. . Global Village

8. Refers to the increasing tendency of the economies of the world to interact with one another as one market instead of many national markets

9. Global Economy

10. Left a successful career on Wall Street to launch Amazon.com

11. Jeff Bezos

12. A business firm with operations in several countries

13. Multinational Corporation

14. A narrow view in which people see things solely through their own perspective

15. Parochialism

16. Believe that their native country, culture, language, and behavior are superior to all others.

17. Ethnocentric Managers

18. Take the view that native managers in the foreign offices best understand native practices, and so the home office should leave them alone.

19. Polycentric Managers

20. Accept that there are differences and similarities between home and foreign practices and that they should use whatever techniques are most effective.

21. Geocentric Managers

22. Using suppliers outside the company to provide goods and services.

23. Outsourcing

24. To buy goods outside the country and sell them domestically.

25. Importing

26. A form of licensing in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company’s brand name and a package of materials and services.

27. Franchising

28. To share risks and rewards of starting a new enterprise together ina foreign country.

29. Joint Venture

30. A foreign subsidiary that is totally owned and controlled by an organization.

31. Wholly-Owned Subsidiary

32. The movement of goods and services among nations without political or economical obstruction.

33. Free Trade

34. A complete ban on the import or export of certain products.

35. Embargo

36. The rate at which one country’s currency can be exchanged for another country’s currency.

37. Exchange Rate

38. A trade barrier in the form of a limit on the numbers of a product that can be imported.

39. Import Quota

40. The use of government regulations to limit the import of goods and services.

41. Trade Protectionism

42. The shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people.

43. Culture

44. Culture in which shared meanings are primarily derived from written and spoken words.

45. Low Context

46. Culture in which people rely heavily on situational cues for meaning when communicating with others.

47. High Context

48. A preference for doing more than one thing at a time.

49. Polychronic

50. A preference for doing one thing at a time.

51. Monochronic