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Business MNGT Ch. 3

Business MNGT 221-01

Ethnocentric attitude Best work done in home country
Polycentric attitude Parochialistic belief that the best work approaches and practices are those of the home country.
Geocentric attitude World-oriented view that focuses on using the best approaches and people from around the globe.
World Bank Group Group of five closely associated institutions that provides financial and technical assistance to develop countries.
Multinational corporation (MNC) Broad term that refers to any and all types of international companies that maintain operations in multiple countries,
Multidomestic Corporation Multinational Corporation that decentralizes management and other decisions to the local country.
Importing Acquiring products made abroad and selling them domestically.
Licensing Organization gives another organization the right to make or sell its products using its technology or product specifications.
North American Free Trade Agreement (NAFTA) Agreement among Mexican, Canadian and U.S. in which certain barriers to trade have been eliminated.
World Trade Organization (WTO) Global organization of 153 countries that deals with the rules of trade among nations.
International Monetary Fund (IMF) Organization of 185 countries that promotes international monetary cooperation and and provides advice, loans, and technical assistance.
Organization for Economic Cooperation and Development (OECD) International economic organization that helps its 30 member countries achieve sustainable economic growth and employment.
Transnational or Borderless Organization Multinational Corporation in which artificial geographical Fbarriers are eliminated.
Global Sourcing Purchasing materials or labor from around the world wherever it is cheapest.
Exporting Making products domestically and selling them abroad.
Franchising Organization gives another organization the right to use its name and operating methods.
Strategic Alliance Partnership between an organization and one or more foreign company partner in which both share resources and knowledge in developing new products or building product facilities.
Joint Venture Specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose.
Foreign Subsidiary Directly investing in a foreign country by setting up a separate and independent production facility or office.
Planned Economy Economic system in which economic decisions are planned by a central government.
National Culture Values and attitudes shared by individuals from a specific country that shape their beliefs about what is important.
Global Leadership and Organizational Behavior Effectiveness (GLOBE) program. Research program that studies cross-cultural leadership behaviors.
Cultural Intelligence Cultural awareness and sensitivity skills.
Global Mind-Set Attributes that allow a leader to be effective in cross-cultural environments.
Parochialism Viewing the world solely through your own perspectives leading to an inability to recognize differences between people.
European Union (EU) Union of 27 European nations created as a unified economic and trade entity.
Euro Single common European currency.
Association of Southeast Asian Nations (ASEAN) A trading alliance of 10 Southeast Asian Nations.
Global Company
Created by: tawania
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