Global Business

Global Business - Term Definition Globalisation refers to...

Info icon This preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Term: Globalisation Definition: refers to the shift towards a more integrated and interdependent world economy Term: Outsourcing Definition: The task that were previously performed in-house are now purchased from another firm Term: Offshoring Definition: A form of outsourcing; it means that a task previously performed in one country is now undertaked abroad Term: Globalisation of markets Definition: The merging of historically distinct and separate national markets into one huge global market place
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Term: Globalisation of Production Definition: Sourcing goods and services from locations around the globe to take advantage of national differences in the cost and quality of various factors of production Term: Factors of Production Definition: Components of production such as land, labour, capital and energy Term: General Agreement on Tariffs and Trade (GATT) Definition: An international treaty that committed signatories to lowering barriers to the free flow of goods across national boarders, a predecessor to the World Trade Organisation Term: World Trade Organisation (WTO) Definition: The organisation that succeeded the General Agreement on Tarrifs and Trade and now acts to police the world trading system
Image of page 2
Term: The International Monetary Fund (IMF) Definition: The international institution set up to maintain order in the international monetary system Term: World Bank Definition: The international organisation set up to promote economic development, primarily by offering low-interest loans to governments to poorer nations Term: United Nations (UN) Definition: An international organisation made upi of 192 countries charged with keeping international peace, developing cooperation between nations, and promoting human rights Term: International Trade Definition: When a firm exports goods or services to buyers in another country
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Term: Foreign Direct Investment Definition: When firms invest resources in business activities outside its home country, giving it some control over those activities Term: Foreign Direct Investment (FDI) Flow Definition: The amount of FDI undertaken over a given time Term: Foreign Direct Investment (FDI) Stock Definition: The total accumulated value of foreign-owned assets at a given time Term: Foreign Direct Investment (FDI) Outflow Definition: The flow of DFI out of a country Term: Foreign Direct Investment (FDI) Inflow Definition: The flow of FDI into a country
Image of page 4
Term: Moore's Law Definition: The premise that the power of microprocessor technology doubles and its cost of production drops by half every 18 months Term: Group of Eight (G8) Definition: An international forum comprising the government representatives of Western industrial economies Term: Group of Twenty (G20) Definition: An international forum comprising the government representatives of the G8 and other economies, including emerging economies as a reflection of their rising global economic and political power Term: Multinational Enterprise Definition: Any business that has productive activities in two or more countries
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Term:
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern