Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century

By Geoffrey Jones | Go to book overview

Appendix 2

Glossary
Antitrust Laws against monopolies or restrictive practices in uncompetitive market conditions.
Brand A product name which facilitates product differentiation.
Business Group A cluster of nominally independent firms linked through either equity or non-equity modes.
Cartel A group of firms which enter into an agreement to set mutually acceptable prices or a price on the output of a commodity.
Chaebol A family-controlled, diversified big business group in South Korea.
Commonwealth Informal grouping of former constituents of British Empire.
Culture The learned attitudes of a society. It can refer to an organization or to a nation.
Economies of Scale These arise when expansion of the scale of production causes total production costs to increase less than proportionately with output.
Economies of Scope These arise when diversification into new product lines permits a reduction of unit costs.
Exchange Controls The control by governments of dealings in foreign currencies and gold.
Eurodollars Dollars held by individuals and institutions outside the United States.
European Union Formed as European Economic Community as a result of Treaty of Rome (1957) and consisting of France, West Germany, Italy, Belgium, Netherlands, and Luxembourg. Subsequently known as the Economic Community and (from 1993) the European Union. Enlarged to include the United Kingdom, Denmark and Ireland in 1973, Greece in 1981, Spain and Portugal in 1986; Sweden, Finland and Austria in 1995; and Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia in 2004.
First Mover Advantages These are held by the firms which exploit first a new technology, distribution system or organization system. The resulting strong competitive positions represent barriers to entry by 'follower' firms.
Foreign Direct Investment (FDI) An investment in a foreign firm which involves managerial control.
Franchising An arrangement whereby one party gives an independent party the use of a trademark that is an essential asset and continued assistance in the operation of the business.
Free-standing Company A firm that did not grow out of an existing domestic business but was established specifically to operate in a foreign country. This form of company existed in great numbers before 1914.
Gold Standard The international monetary system prevalent before 1914 (and in the 1920s) whereby the value of national currencies was fixed to gold and their central banks were obliged to give gold in exchange for any of its currency presented to it.
Greenfield Investment When a multinational opens a new facility in a foreign country as opposed to entering a market by acquiring an existing facility.

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Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century
Table of contents

Table of contents

  • Multinationals and Global Capitalism iii
  • Preface v
  • Contents vii
  • List of Figures viii
  • List of Tables ix
  • List of Boxes x
  • Part I Frameworks 1
  • 1: Concepts 3
  • Summary 15
  • 2: Multinationals and Globalization 16
  • Summary 40
  • Part II Exploiting Opportunities 43
  • 3: Natural Resources 45
  • 4: Manufacturing 76
  • 5: Services 109
  • Part III Building Organizations 145
  • 6: Crossing Borders 147
  • 7: Managing Multinationals 166
  • Part Ivexternal Environment 199
  • 8: Public Policy 201
  • Part V Outcomes 229
  • 9: Multinationals and Home Economies 231
  • 10: Engines of Growth? 255
  • 11: Conclusions 285
  • Appendix 2 302
  • Bibliography 307
  • Index 329
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