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| Question | Answer |
| Multinational Management | Formulation of strategies & design of management Systems to take Advantage of international opportunities and respond to international threats |
| MNC | Multinational Company Company with Business functions beyond its domestic borders |
| developed countries | Mature economy, high GDP, high Levels of trade and investment |
| developing countries | countries with economies that have grown extremely in the past two decades |
| Transition economies | Changing from government controlled economic systems to free market or capitalistic systems |
| Emerging markets | between developping and developed countries and rapidly growing |
| GATT | General Agreement on Tariffs and Trade Tariff negotiations between nations that reduced average worldwide tariff on manufactured goods |
| WTO | World Trade Organization negotiations to reduce trade barriers |
| NAFTA APEC | North American Free Trade Agreement Asia Pacific Economic Cooperation |
| FDI | Foreign Direct Investment Multinational firms ownership in part / whole of an Operation in another country |
| Global mindset | Managers must think globally and act locally |
| Strategy | Maneuvers/ Actions to sustain and increase organizational performance |
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