Miscellaneous Quiz / International Business Ch9-12 Terms

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Can you name the International Business Ch9-12 Terms?

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DefinitionTermChapter
A market for converting the currency of one country into that of another countryCh9
The rate at which one currency is converted into anotherCh9
The risk that changes in exchange rates will hurt the profitability of a business dealCh9
Moving funds from one currency to another over the short term in hopes of profiting from the shifts in exchange ratesCh9
The process of insuring one's business against foreign exchange risk by using forward exchanges or currency swapsCh9
The rate at which a foreign exchange dealer converts currency on any particular dayCh9
When two parties agree to exchange currency and execute a deal at some specific date in the futureCh9
The exchange rate governing forward exchange transactions, calculated at the time of the exchange but based on future expectationsCh9
The simultaneous purchase and sale of a given amount of foreign exchange for two different value datesCh9
The purchase of securities in one market for immediate resale in another market to profit from a price discrepancyCh9
Principle that in competitive mkts free of trans costs & barriers to trade, identical products sold in different countries must sell for the same price when their price is expresseCh9
A market in which prices reflect all available public information and trade is not restrictedCh9
The theory that nominal interest rates (i) in each country equal the required real rate of interest (r) and expected rate of inflation (l) over the time period for which the funds Ch9
The theory that for any two countries, the spot exchange rate should change in an equal amount but in the opposite direction to the difference in normal interest rates between counCh9
When traders move like a herd, all in the same direction and at the same time, in response to each others' perceived actionsCh9
A market in which prices do not reflect all available informationCh9
Draws on economic theory to construct econometric models for predicting exchange rate movementsCh9
Uses price and volume data to determine past trends, which are expected to continue into the futureCh9
When a country's government allows both residents and nonresidents to convert its currency into foreign currencyCh9
When a country's government allows only nonresidents to convert the currency into foreign currencyCh9
When a country's government allows neither residents nor nonresidents to convert its currency into a foreign currencyCh9
When residents and nonresidents rush to convert their holdings of domestic currency into a foreign currency, usually taking place when domestic currency is depreciating rapidly or Ch9
The trade of goods and services produced in one country for the goods and services of another countryCh9
The extent to which the income from individual transactions is affected by fluctuations in foreign exchange valuesCh9
The extent to which the reported consolidated results and balance sheets of a corporation are affected by fluctuations in foreign exchange valuesCh9
The extent to which a firm's future international earning power is affected by changes in exchange ratesCh9
DefinitionTermChapter
Attempting to collect foreign currency receivables early when a foreign currency is expected to depreciate and paying foreign currency payables before they are due when a currency Ch9
Delaying collection of foreign currency receivables if that currency is expected to appreciate and delaying payables if that currency is expected to depreciateCh9
The institutional arrangements countries adopt that govern exchange ratesCh10
A system under which the exchange rate for converting one currency into another is continuously adjusted depending on the law of supply and demandCh10
A system under which the value of a country's currency is fixed relative to a reference currency, and then the exchange rate between that currency and other currencies is determineCh10
A system under which a country's currency is nominally allowed to float freely against other currencies, but in which the government will intervene if it believes the currency has Ch10
A system under which the exchange rate for converting one currency into another is set at a constant rateCh10
System for managing exchange rates of EU currencies against each other. Now replaced by the euroCh10
The practice of pegging currencies to gold and guaranteeing convertibilityCh10
The amount of currency needed to purchase one ounce of goldCh10
Reached when the income a country's residents earned from exports equals the money they pay for importsCh10
System under which some currencies are allowed to float freely, but the majority are either managed by government intervention or pegged to another currencyCh10
A country's currency authority that holds reserves of foreign currency equal at the fixed exchange rate to at least 100 percent of the domestic currency issued in order to keep infCh10
When a speculative attack on the exchange value of a currency results in a sharp depreciation of the currency or forces authorities to expend large volumes of international currencCh10
When individuals and companies lose confidence in the banking system and withdraw their deposits in what is called a run on banksCh10
A situation in which a country cannot service its foreign debt obligations, whether private-sector or government debtCh10
When people behave recklessly because they know they will be saved if things go wrongCh10
The actions that managers take to attain company goalsCh11
The rate of return conceptCh11
The percentage increase in net profits over timeCh11
Performing activities that increase the value of goods or services to consumersCh11
The various value-creation activities a firm undertakesCh11
The totality of a firm's organization, including formal organizational structure, control systems and incentives, organizational culture, processes, and peopleCh11
The three-part structure of an organization, including its formal division into subunits such as product divisions, its location of decision-making responsibilities within that strCh11
The metrics used to measure the performance of subunits and make judgments about how well managers are running those subunitsCh11
The devices used to reward appropriate managerial behaviorCh11
DefinitionTermChapter
The manner in which decisions are made and work is performed within any organizationCh11
The norms and value systems that are shared among the employees of an organizationCh11
The employees of an organization; its recruiting, compensation, and retention strategies; and the type of people who work at the organizationCh11
The skills within a firm that competitors cannot easily match or imitateCh11
The economies that arise from performing a value creation activity in the optimal location for that activity, wherever in the world that may be found, at a cost advantage to the fiCh11
When different stages of a value chain are dispersed to those locations around the globe where value added is maximized or where costs of value creation are minimizedCh11
Systematic reductions in production costs that have been observed to occur over the life of a productCh11
Cost savings that come from learning by doingCh11
The reductions in unit cost achieved by producing a large volume of a productCh11
Arise when the tastes and preferences of consumers in different nations are similar if not identicalCh11
Pursuing a low-cost strategy on global scale & increasing profitability & profit growth by reaping the cost reduct's that come from econs of scale, learning effects, & location ecoCh11
Increasing profitability by customizing the firm's goods and services so that they provide a good match to tastes and preferences in different national marketsCh11
Attempting to simultaneously achieve low costs thru location economies, economies of scale, and learning effects while also differentiating product offerings across geographic markCh11
When a firm takes products first produced for its domestic market and sells them internationally with only minimal local customizationCh11
Cooperative agreements between potential or actual competitors for the benefit of all companies concernedCh11
When a business enters a foreign market/ said to be early when it does so before other firms, and late when it does so after other businesses have already established themselvesCh12
Advantages accruing to firms that enter markets earlyCh12
Disadvantages affecting early entrants to a foreign marketCh12
Costs an early entrant has to bear that a later entrant can avoidCh12
Selling goods and services to entities in another countryCh12
A project in which a firm agrees to set up an operating plant for a foreign client and hand over the 'key' when the plant is fully operationalCh12
Arrangement in which a licensor grants the rights to intangible property to the licensee for a specified period and receives a royalty fee in returnCh12
Specialized form of licensing in which franchiser not only sells intangible property to the franchisee, but also insists the franchisee agree to abide by strict rules as to how it Ch12
Establishing a firm that is jointly owned by two or more otherwise independent firmsCh12
A subsidiary in which the firm owns 100 percent of the stockCh12

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