Cultural and sociel environment	It covers values, attitudes and norms of social behavior in a given group.causes misunderstangings
economic environment	all activities which create people’s livelihoods, country’s source of wealth and level of indust
political environment	the country’s system of government and all the powerful people affecting its operation
legal environment	the country’s system of laws and how they are enforced in practice
technological environment	the country’s level of scientific knowledge and using it in practice.
financial environment	the country’s banking and other financial systems. Financial systems differ in the level of transp
ecological environment	the country’s all living things and relationships between them in their natural habitats.
Corporate social responsibility	the firm has legal, moral and social roles.
born-global firms	technology SMEs set their sights on global markets from the beginning
Private limited company	like family business, the owner retains control.few shareholders insiders no shares to public
Public limited company	a registered company that offers its share to the public
falling barriers to trade and investment	lower tarrifs
technological innovation	increasing the speed of globalization, faster easier flow od data and goods, internet to purchase
Corporate governance	the system of procedures and processes saying how corporations are managed, directed and controlled
Ethics	moral principles and values that govern the behavior of people, firms and governments
Relativism	- the belief that ethical truths are not absolute and differ form group to group “when in rome…â
Normativism	the belief that ethical standards are universal and firm should seek to uphold them around the world
Corruption	practice of getting the power, personal gain or influence through illegal, unethical means and usual
what bad corruption do	lowers trust in local institution, make rule of law less important, stops foregin investors to start
forms of corruption	bribery, embezzlement, fraud, blackmailing, money laundring
how to countries fight corruption?	adequately enforce laws, be transpartent, easily accesible inof about finances
bribery	form of corruption, FCPA company in US illegal prison
Intelectual property rights	trademarks, copyrights, patents (those give the exclusive right to use manufacture and sell
Counterfeiting	process of reproducing goods without compensating those who originally made it
how Piracy and counter. Hurts the economy	international trade(original comp with it), -direct investment – firms avoid investing company per
demand pull inflation	demand in economy is key factor, may result in cheap borrowing or tax cuts
cost push inflation	rising costs drive up prices
fiscal policy	the means by wchich government adjusts its spending level and tax rates to monitor and influence NE
monetary policy	refers to policies for determining the amount of money in supply, rates of int, exch.rates
GNI	measures the income of a countrys residents and business
GDP	measures the income of anyone within a countrys boundares, both foreginers and foregin business