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FINAL IBM (Fach) / IBM (Lektion)

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• A XXXX is a valuable resource that a company holds and leverages to generate profits, and which few other firms have. monopolistic advantage
• To successfully enter and conduct business in a foreign market, the MNE must possess XXXXX (i.e. proprietary technology, knowledge, managerial skills, trademarks or brand names, economies of scale, access to substantial financial resources, capabilities, key ownership-specific advantages
• The second condition is the presence ofXXXX, the comparative advantages available location-specific advantages
• XXXX include the ability to control how the firm’s products are produced or marketed, the ability to prevent unintended dissemination of the firm’s proprietary knowledge, and the ability to reduce buyer uncertainty about the value of products the firm offers. Internalization advantages
• International Collaborative Ventures: (1) A collaborative venture is a form of cooperation between two or more firms: (a) Equity-based joint ventures that result in the formation of a new legal entity; (b) Non-equity-based strategic alliances in which firms partner temporarily to work on projects (e.g. design, R&D, manufacturing, etc.). d
• XXXX are neither formal organizations with clearly defined hierarchical structures nor interpersonal, decentralized markets. Networks
• XXX - Complex groups of firms with interlinked ownership and trading relationships that foster inter-firm organizational learning Japanese Keiretsu
• XX) is defined as exposure to potential loss or adverse effects on company operations and profitability caused by developments in a country’s political and/or legal environments (e.g. government intervention, protectionism, barriers to trade and investment). Country Risk (Political Risk
• XXXX is a set of formal institutions that constitute a government, including legislative bodies, political parties, lobbying groups, and trade unions (e.g. totalitarianism, socialism, democracy). A political system
• . XXXXis a system for interpreting and enforcing laws, incorporating institutions and procedures for ensuring order and resolving disputes in commercial activities, as well as taxing economic output and protecting intellectual property and other company assets (e.g. common/case law, civil/code law, religious law, mixed systems). A legal system
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• Governments occasionally seize the assets of corporations although aggressive seizure is less common these days as governments in many developing countries have adopted institutional reforms that aim to attract FDI from abroad and foster economic growth. Government Takeover of Corporate Assets:
• XXXX is an official ban on exports to or imports from a particular country, in order to isolate it or punish its government (More serious than a sanction and is used as a political punishment for some disapproved policies or acts – The U.S. has enforced embargoes against Iran and North Korea). An embargo
• XXX is the threat or actual use of force or violence to attain a political goal through fear, coercion, or intimidation (It is sometimes sponsored by national governments). → Terrorism can severely damage commercial infra structure and disrupt business activities (also financial markets), inducing fear in customers, who reduce their purchasing, potentially leading to economic recession. Terrorism
• These laws affect the type of entry strategy firms choose, as well as their operations and performance (Many nations impose restrictions on inward FDI). Foreign Investment Laws –
• XXXXX Governments impose laws and regulations on how firms can conduct production, marketing, and distribution activities within their borders Controls on Operating Forms and Practices –
• XXX These laws determine which practices are allowed in advertising, promotion, and distribution (e.g. Some countries prohibit cigarette advertising on TV). Marketing and Distribution Laws –
• XXX– MNEs earn profits in various countries and typically seek ways to transfer these funds to their home country, however, in some countries, governments devise laws that restrict such transfers (Repatriation restrictions limit the amount of net income or dividends that firms can remit to their home-country headquarters). Laws on Income Repatriation
• XXXX– Governments enact laws to preserve natural resources; to combat pollutions and the abuse of air, earth, and water resources; and to ensure health and safety. Environmental Laws
• XXXX– International contracts attach rights, duties, and obligations to the contracting parties (e.g. FDI, joint ventures, licensing and franchising, sale of goods or services, distribution of products, etc.) Contract Laws
• XXX– Internet and e-commerce regulations are the new frontier in the legal systems, and are still evolving (Firms that undertake e-commerce in countries with weak laws face considerable risk). Internet and E-Commerce Regulations
• XXXX– An underdeveloped regulatory environment or poor enforcement of existing laws can also pose challenges for the firm (Inadequate legal protection is most common in developing economies, but can be a factor in developed economies as well; the most recent global financial crisis). Inadequate or Underdeveloped Legal System
• XXXXX refers to the application of home-country laws to persons or conduct outside national borders (In most cases, such laws are intended to prosecute individuals or firms located abroad for some type of wrongdoing). Extraterritoriality
• (FCPA) was passed by the US government in 1977, banning firms from offering bribes to foreign parties (e.g. foreign government officials and politicians) in order to secure or retain business. → The Act was strengthened in 1998 to cover foreign firms and managers who act in furtherance of corrupt payments while in the US. → The Act also requires companies with securities listed in the US to meet US accounting provisions. The Foreign Corrupt Practices Act
• XXXX refers to the growing economic interdependence that results when two or more countries within a geographic region form an alliance aimed at reducing barriers to trade and investment. Regional (Economic) Integration
• At a minimum, the countries in an economic bloc become parties to a XXXXX a formal arrangement between two or more countries to reduce or eliminate tariffs, quotas, and other barriers to trade in products and services (The member nations also undertake cross-border investment within the bloc Free Trade Agreement,
• Today, more than 50% of world trade occurs as part of a XXXXX signed by groups of countries. → The free trade that results from regional integration fosters the internationalization of countless firms. → Living standards usually rise due to increased specialization, lower prices, greater choices, increased productivity, and more efficient use of resources. preferential trade agreement
• Regional integration results from the formation of XXXX→ A geographic area that consists of two or more countries that agree to pursue economic integration by reducing tariffs and other restrictions to the cross- border flow of products, services, capital, and in more advanced stages, labor. an economic bloc.
• NAFTA included provisions that promote XXXX and XXXXX. sustainable development and environmental protection
• Post-industrial countries with high per-capita income, highly competitive industries, and well-developed commercial infrastructure (Typically the richest countries, including Australia, Canada, Japan, U.S., and nations of Western Europe). . Advanced Economies:  
• XXX (Underdeveloped / Third-World Countries): Low-income countries characterized by limited industrialization and stagnant economies (e.g. Bangladesh, Bolivia, Nicaragua, Zaire, etc.). Developing Economies
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• Governments are often severely XXX (Debt levels approach or exceed their annual GDP). indebted
• XXX Former developing economies that have achieved substantial industrialization, modernization, and remarkable economic growth since the 1980s, mainly found in Eastern and South Asia, Latin America, South Africa, the Middle East, and Eastern Europe (e.g. Brazil, Russia, India, China, Indonesia, Mexico, Poland, Turkey, etc.). Emerging Market Economies:
• XXXXX refer to a subset of emerging markets that evolved from centrally planned economies into liberalized markets (e.g. China, Russia, and several countries in Eastern Europe – Poland, the Czech Republic, Hungary). Transition economies
• XXXX are leading firms from emerging markets that are fast becoming key contenders in world markets. ← Emerging markets possess numerous advantages, such as the presence of low-cost labor, knowledge workers, government support, low-cost capital, and powerful, highly networked conglomerates. New global challengers
• XXXX refers to the procurement of selected value- chain activities from independent suppliers or company-owned subsidiaries. Outsourcing
• Outsourcing helps firms become more efficient, concentrate on their core competencies, and obtain competitive advantages. → XXXX (offshoring) relies on foreign supplier or production bases. Global sourcing
• XXXX represents the segment of people between wealthy and poor, having economic independence, working in business, education, government, and hourly jobs, and consuming various discretionary items. The middle class
• XXXX unauthorized copying and production of a product – is common in China, Indonesia, and Russia. Counterfeiting –
• XXXXX Burdensome administrative rules and excessive requirements for licenses, approvals, and paperwork all delay business activities. Bureaucracy, Red Tape, and Lack of Transparency:

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