25 Global Business Strategy Terms
Welcome to our guide on 25 Global Business Strategy Terms. We’re excited to share some valuable knowledge and insights with you that can help transform your business strategy game.
*advertisement*
*advertisement*
When it comes to global business, understanding key terms is essential for success. It not only helps you communicate effectively with others, but also allows you to make informed decisions that can drive growth and profitability. So, let’s dive in and explore these 25 terms together!
-
Globalization: The process of businesses expanding operations and influence across international borders.
-
Multinational Corporation (MNC): A company that operates in several countries.
-
International Trade: The exchange of goods and services between countries.
-
Foreign Direct Investment (FDI): Investment by a company in the business interests of another country.
-
Market Entry Strategy: The plan developed by a business to enter a new international market.
-
Joint Venture: A business agreement where two or more parties agree to pool resources for a specific task, often in a new market.
-
Global Supply Chain: The network of suppliers, manufacturers, and distributors involved in producing, delivering, and selling goods internationally.
-
Offshoring: Moving a part of a business process to another country, typically to reduce costs.
-
Outsourcing: Contracting out business processes to third-party companies, possibly in other countries.
-
Cross-Cultural Management: Managing a workforce that includes employees from different cultural backgrounds.
-
Exchange Rate Risk: The potential for losses due to fluctuating exchange rates in foreign currency transactions.
-
Tariffs and Trade Barriers: Taxes or other restrictions imposed by governments on international imports or exports.
-
Emerging Markets: Countries with rapidly growing and volatile economies, often seen as new opportunities for investment.
-
Global Branding: Marketing a product or service worldwide using consistent branding strategies.
-
Cultural Intelligence: The ability to understand and adapt to different cultural norms and practices.
-
Expatriate: An individual living and working in a country other than their native country, often on assignment for a company.
-
Geopolitical Risk: The risk associated with political changes or instability in a foreign country.
-
International Diversification: Spreading business operations across various countries to reduce risk.
-
Supply Chain Resilience: The ability of a global supply chain to withstand and recover from disruptions.
-
Global Sourcing: Procuring goods or services from suppliers located in different countries.
-
Trade Agreement: A pact between countries to facilitate and grow international trade by reducing trade barriers.
-
Localization: Adapting products or services to meet the cultural and language preferences of different international markets.
-
Transnational Strategy: A business strategy that combines global integration with local responsiveness.
-
World Trade Organization (WTO): An international organization that regulates international trade.
-
Economic Integration: The process whereby countries reduce trade and investment barriers to create a more unified economic region.
Understanding these terms is essential for anyone involved in or studying global business, as they form the core vocabulary of international trade and corporate strategy.
*advertisement*
Hire The Industry's Best Virtual Assistants Today!
Create An Account & Hire Our Virtual Assistants For Your Business
*advertisement*
