International Business

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International Business
2011-04-11 16:54:35
Chapter Vocabulary

Chapter 12 INTERNATIONAL BUSINESS 12th Edition
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  1. international strategy
    The way firms make choices about acquiring and using scarce resources in order to achieve their international objectives
  2. benchmarking
    A technique for measuring a firm's performance against the performance of others that may be in the same or a completely different industry
  3. bottom-up planning
    Planning process that begins at the lowest level in the organization and continues upward
  4. competitor analysis
    Process in which principal competitors are identified and their objectives, strengths, weaknesses, and product lines are assessed
  5. competitor intelligence system (CIS)
    Procedure for gathering, analyzing, and disseminating information about a firm's competitors
  6. contingency plans
    Plans for the best-or worst-case scenarios or for critical events that could have a severe impact on the firm
  7. explicit knowledge
    Knowledge that is easy to communicate to others via words, pictures, formulae, or other means
  8. industrial espionage
    Act of spying on a competitor to learn secrets about its strategy and operations
  9. iterative planning
    Repetition of the bottom- up or top-down planning process until all differences are reconciled
  10. knowledge management
    The practices that organizations and their managers use for the identification, creation, acquisition, development, dispersion, and exploitation of competitively valuable knowledge
  11. mission statement
    A broad statement that defines the organization's purpose and scope
  12. policies
    Broad guidelines intended to assist lower level personnel in handling recurring issues or problems
  13. procedures
    Specified ways of performing a particular task or activity
  14. sales forecast
    A prediction of future sales performance
  15. scenarios
    Multiple, plausible stories about the future
  16. strategic planning
    the process by which an organization determines where it is going in the future, how it will get there, and how it will assess whether and to what extent it has achieved its goals
  17. tacit knowledge
    Knowledge that an individual has but that is difficult to express clearly in words, pictures, or formulae, and therefore difficult to transmit to others
  18. top-down planning
    Planning process that begins at the highest level in the organization and continues downward
  19. value chain analysis
    An assessment conducted on the chain of interlinked activities of an organization or set of interconnected organizations, intended to determine where and to what extent value is added to the final product or service
  20. values statement
    A clear and concise description of the fundamental values, beliefs, and priorities of the organization's members.
  21. vision statement
    A description of the company's desired future position if it can acquire the necessary competencies and successfully implement its strategy