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Negotiation
The process by which two or more parties meet to try to reach agreement regarding conflicting interests. TERM 2
Relationship Building
DEFINITION 2 The process of etting to know one's contacts in a host country and building mutual trust before embarking on business discussions and transactions. TERM 3
Nontask Sounding
DEFINITION 3 General, polite conversation and informal communication before meetings. TERM 4
Instrumental-Oriented Conflict
DEFINITION 4 An approach to conflict in which parties tend to negotiate on the basis of factual information and logical analysis. TERM 5
Expressive-Oriented Conflict
DEFINITION 5 Conflict that is handled indirectly and implicitly, without clear delineation of the situation by the person handling it.
Strategic Planning
The process by which a firm's managers consider the future prospects for their company and evaluate and decide on strategy to achieve long-term objectives. TERM 7
Strategy
DEFINITION 7 The basic means by which a company competes: the choice of business or businesses in which it operates and how it differentiates itself from its competitors in those businesses. TERM 8
Environmental Assessment
DEFINITION 8 The continuous process of gathering and evaluating information about variables and events around the world that may pose threats or opportunities to the firm. TERM 9
Internal Analysis
DEFINITION 9 Determines which areas of a firm's operations represent strengths or weaknesses (currently or potentially) compared to competitors. TERM 10
Distinctive Competencies
DEFINITION 10 Strengths that allow companies to outperform rivals.
Human Capital
Those direct or subcontracted employees whose labor becomes part of the firm's value-added product or service. MNCs are increasingly offshoring (outsourcing) that asset around the world in order to lower the cost of human capital. TERM 17
Turnkey Opertaion
DEFINITION 17 When a company designs and constructs a facility abroad, trains local personnel, and turns the key over to local management for a fee. TERM 18
International Joint Venture (IJV)
DEFINITION 18 An overseas business owned and controlled by two or mroe partners; starting such a venture is often used as an entry strategy. TERM 19
Fully Owned Subsidary
DEFINITION 19 An overseas operation started or bought by a firm that has total ownership and control; starting or buying such an operation is often used as an entry strategy. TERM 20
Strategic Implementation
DEFINITION 20 The process by which strategic plans are realized through the establishment of a system of fits throughout an organization with the desired strategy- for example, in organizational structure, staffing and operations.
Stategic Alliances
Working partnerships between MNCs across national boundaries and often across industries. TERM 22
IJV Control
DEFINITION 22 How a parent company ensures that the way a joint venture is managed conforms to it own interest. TERM 23
Knowledge Management
DEFINITION 23 The process by which the firm integrates and benefits from the experiences and skills learned by its employees, for example, when repatriating managers from the host country TERM 24
Guanxihu
DEFINITION 24 A bond between specially connected firms, which generates preferential treatment to members of the network. TERM 25
Structural Evolution
DEFINITION 25 The stages of change in an organizational structure that follow the evolution of the internationalization process.
Integration
Coordination of markets. TERM 32
Indirect
Controls
DEFINITION 32 The control of foreign operations through the use of reports, budgets, financial controls, and so forth. TERM 33
MIS Adequacy
DEFINITION 33 The ability to gather timely and accurate information necessary for international managementm, especially in less developed countries. TERM 34
Noncomparability of Performance Data Across
Countries
DEFINITION 34 The control problem caused by the difficulty of comparing performance data across various countries because of the variables that make that information appear different. TERM 35
Expatriate
DEFINITION 35 One who works and lives in a foreign country but remains a citizen of the country where the employing organization is headquartered.
Ethnocentric Staffing Approach
An approach that fills key managerial positions abroad with persons from headquarters- that is, with parent-country nationals (PCNs). TERM 37
Parent-Country National
DEFINITION 37 An employee in or from the firm's home country. TERM 38
Polycentric Staffing Approach
DEFINITION 38 An MNC policy of using local host-country nationals (HCNs) to fill key positions in the host country. TERM 39
Host-Country National
DEFINITION 39 A worker who is indigenous to the local country where the plant is located. TERM 40
Global Staffing Approach
DEFINITION 40 Staff recruited from within or outside of the company, regardless of nationality.
Work Centrality
The degree of general importance that working has in the life of an individual at any given time.
