Business Handbook-unit 2- globalization

main drivers of globalization

cost factors, technology factors, market factors, global business cycle

the BRICs

Brazil Russia India China

łańcuch dostaw

supply chain

company strategy in the face of globalization

import/export, outsourcing, foreign direct investment

outsourcing

subcontract

subsidiary

overseas division

tariffs

taxes on imports

quotas

limits on imports

balance of trade

difference between a nation's imports and exports

nadwyżka handlowa

trade surplus

deficyt handlowy

trade deficit

balance of payments

balance of trade plus service and investments

WTO

World Trade Organization - works towards reducing tariffs and quotas

IMF

International Monetary Fund - makes short-term loans to countries that cannot pay debts

World Bank

lends money to developing countries, particularly for infrastructure projects

subsidiary

company owned by another company

subsidy

money paid by government to support a business

recovery

upswing, upturn

growth

boom, expansion

recession

contraction, downturn, slowdown

depression

slump

inwestycja zagraniczna

inward investment

licensing

a company gives the right to manufacture its product to a foreign company for a fee= royalty

joint venture

a partnership in which two or more companies join to undertake a major project or start a business activity

strategic alliance

a long-term partnership similar to joint venture, but it may be between two companies of very different sizes, such as large manufacturer and one of its suppliers