International Business Week 1
International Business Week 1 MGMT 4710
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This 3 page Class Notes was uploaded by Anna Notetaker on Thursday August 25, 2016. The Class Notes belongs to MGMT 4710 at Middle Tennessee State University taught by Cheryl Ward in Fall 2016. Since its upload, it has received 16 views. For similar materials see International Business in Management at Middle Tennessee State University.
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Date Created: 08/25/16
International Business Week 1 International Business engages in international economic activities or business abroad. Global Business includes both international and domestic business activities. o 90% of the time, she will use these definitions interchangeably. Multinational Enterprise (MNE) is a firm that engages in foreign direct investments. o Any company that engages in International Business. Foreign Direct Investment (FDI) is when a business invest, controls, and manages valueadded activities in other countries – exports, distribution, building, manufacturing, etc. Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a country in a given period of time usually a calendar year. This can be contributions from Residential Firms, Households, and Government. Gross National Income (GNI) is the GDP plus income from Nonresident Sources Abroad. o Profit goes back to the country to be included in the economy. An example of this could be how the United States, especially in our area, has factories for Nissan. Each time a vehicle is sold in the States, profit goes back to Japan. Purchasing Power Party (PPP) are the adjustments made to the GDP to reflect differences in the cost of living. o House Hunter International is a great example because these individuals often see that their standard of living is not the same in other countries. For instance, we are used to having large rooms and closets. In Europe, small bedrooms and armoires are common. Emerging Economies is known ad Developing Countries – Africa and Central Asia are homes to countries that are not fully developed (pg. 14). o BRIC – Brazil, Russia, India and China Classroom Group Assignment: Made In … o As groups, we had to go through our items and create a list of the different countries each item was from. This counted as our class participation grade. Triad – North America, Western Europe, and Japan CRITICAL*** Make sure you know the Western European Countries and are able to put them on a map for Tuesday’s class. I found this map online as well as this study quiz. I hope it helps! http://lizardpoint.com/geography/europewesternquiz.php
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