International Business
5. Semester / Vertiefung GM / ZHAW
5. Semester / Vertiefung GM / ZHAW
Set of flashcards Details
| Flashcards | 26 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 03.01.2023 / 07.03.2024 |
| Weblink |
https://card2brain.ch/box/20230103_international_business
|
| Embed |
<iframe src="https://card2brain.ch/box/20230103_international_business/embed" width="780" height="150" scrolling="no" frameborder="0"></iframe>
|
which axes does the integration-responsivness framework discribe?
Global integration / Local responsiveness
Discribe the global integration axe.
Coordination of the value-chain activities across countires to achive efficiency, synergy and cross-fertilization to take max. advantage of similarities between countries.
Discribe the local responsiveness
Management of value-chain activities on country-by-country basis to address diverse opportunities and risks.
Which strategies exist within the Integration-Responsiveness Framework?
local resp./global int.
low/low ---- International (Home Replication, Ethnocentric) Strategy
low/high --- Global (Standardization, Geocentric) Strategy
high/low --- Localization (Multidomestic, Polycentric) Strategy
high/high -- Transnational (Regiocentric) Strategy
Home replication strategy is...
- international business as seperated/secondary to domestic business
- opportunity for additional sales
- designs products for domestic customers
- no adaption for foreign customers
- typically employed by smaller firms
Multidomestic strategy is...
- headquarters deligates autonomy to managers in each foreign unit
- operate independently
- emphasizes differences between national markets
- vary product and management by country
- min. pressure on headquarters / delegate many tasks
- disadvantages: each manager develop local strategy, no knowledge transfer - reduced econmies of scale
Global strategy is...
- headquarters seeks substantial control / operational responsibility worldwide
- min. redundancy and max. efficiency, learning and integration worldwide
- same thing, the same way, everywhere
- advantages: cross-national learning & cross-fertilization, creates economies of scale
- limitations: challenging to coordinate, must maintain ongoing communication
Transnational strategy is...
- firm relatively responsive while retaining sufficient central control
- ensure efficency and learning
- combination of advantages of multidomestic and global strategies to min. their disadvantages
- most MNEs find it difficult to implement
Globally competitive firms need to seek simultaneously three strategic objectives.
1. Efficiency: efficient value chains. refers to lowering costs
2. Flexibility: flexibility to accommodate divers country-specific risks and opportunities
3. Learning: ability to learn and exploit this learning through knowledge transfer
Which three parameters has the Motivation Check?
Drivers: Extrinsic & Intrinsic / Push: from outside & Pull: from inside
Benefits: Learning effects, development, higher market value creation, more flexibility, scale effects
Synergies: two work better then one / 3 stages: Negative, positiv & negative slope
what factors builde the readiness check?
company readiness: knowledge, networks, resources
product readiness: price, customer characteristics, competition
market readiness: industy trends, regulations, customer requirements, competition, distribution, tariffs
3 parameters of the market entry check are?
target: political situation, economic freedom, inflation rates, market size
pacing: early internationalization
scale: entry modes
the 3 parameters of market entry check are?
target: political situation, economic freedom, inflation rates, market size
pacing: early internationalization
scale: entry modes
the three checks for internationalization are?
motivation check
readiness check
market selection & entry check
When does the first idea of Euope working together emerge? and in which way?
1950 France and Germany bond together for production of cole and steal. Boost the economie and entry for every contry who wants to join.
When was the EEC (European Economic Community) founded and for what?
1957 to garantee a commen market and allowing free movement of worker and eleminating tarife.
when is firstly a singel commission brought up in Europe?
1965
who joins the communiti in 1973?
Ireland, Denmark and UK
when was the EU (European Union) created?
1992
what happens in the EU and Schengen in 2004?
10 new countries join.
which types of capitalism do we have across Europe?
Market capitalism
Managed capitalism
State capitalism
what is Market capitalism?
Limeted Government and unlimited freedom. Financ at the financial market. private individuals and corporations own the means of production and private investment drive the economie.
UK, Irland
what is managed capitalism?
the State is indirect support for economy, the economy is network oriented. so called welfare state.
friendly environment Education & R&D, Strong professional associations, Solcial security&transfer.
DE, SW, RU
what is State capitalism?
the state intervences directly into strategic industries. State owned companies, Regulation of relation between players in the industry, financing and tendency to protectionism.
or the government is involved into labor relation.
Which are the key tasks in global market opportunity assessment? correct orde relevant.
1. analyze organizational readiness to internationalize
2. assess the suitability of the products&services for foreign markets
3. screen countries to identify target markets
4. assess industry market potential
5. choose foreign business partners
6. estimate company sales potential
what kinde of entry modes do exist?
-
- 1 / 26
-
