International Business

Process of identifying and selecting an organization’s objectives and deciding how the organization will achieve those objectives

Set of planned actions taken by managers to help a company meet its objectives

All parties, ranging from suppliers and employees to stockholders and consumers who are affected by a company’s activities

Special ability of a company that competitors find extremely difficult or impossible to equal

Process of dividing a company’s activities into primary and support activities and identifying those that create value for customers

Offering the same products using the same marketing strategy in all national markets

Strategy designed to increase the scale (size of activities) or scope (kinds of activities) of a corporation’s operations

Adapting products and their marketing strategies in each national market to suit local preferences

Strategy designed to reduce the scale or scope of a corporation’s business

Strategy designed to guard against change and used by corporations to avoid either growth or retrenchment

Strategy designed to mix growth, retrenchment, and stability strategies across a corporation’s business units

Strategy in which a company exploits economies of scale to have the lowest cost structure of any competitor in its industry

Strategy in which a company focuses on serving the needs of a narrowly defined market segment by being the low-cost leader, by differentiating its product, or both

Way in which a company divides its activities among separate units and coordinates activities among those units

Lines of authority that run from top management to individual employees and that specify internal reporting relationships

Organizational structure that separates domestic from international business activities by creating a separate international division with its own manager

Organizational structure that organizes a company’s entire global operations into countries or geographic regions

Organizational structure that divides worldwide operations according to a company’s product areas

Organizational structure that splits the chain of command between product and area divisions

Team in which the employees from a single department take on the responsibilities of their former supervisors

Team composed of employees who work at similar levels in different functional departments

Team of top managers from both headquarters and international subsidiaries who meet to develop solutions to company-wide problems