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Management Chapter-3

Robbins & Coulter 11th Edition

QuestionAnswer
Parochialism viewing the word solely through your own perspectives, leading to an inability to recognize differences between people
Ethnocentric attitude the parochialistic belief that the best work approaches and practices are those of the home country
Polycentric attitude the view that the managers in the host country know the best work approaches and practices for running their business
Geocentric attitude a world-oriented view that focuses on using the best approaches and people from around the world
European Union (EU) a union of 27 European nations created as a unified economic and trade entity
Euro a common European currency
North American Free Trade Agreement (NAFTA) an agreement among the Mexican, Canadian and U.S. governments in which barriers to trade have been eliminated
Association of Southeast Asian Nations (ASEAN) a trading alliance of 10 Southeast Asian nations
World Trade Organization (WTO) a global organization of 153 countries that deals with the rules of trade among nations
International Monetary Fund (IMF) an organization of 185 countries that promotes international monetary cooperation and provides advice, loans, and technical assistance
World Bank Group a group of 5 closely associated institutions that provides financial and technical assistance to developing countries
Organization for Economic Cooperation and Development (OECD) an international economic organization that helps its 30 member countries achieve sustainable economic growth and employment
Multinational corporation (MNC) a broad term that refers to any and all types of international companies that maintain operations in multiple countries
Multidomestic corporation a MNC that decentralizes management and other decisions to the local country
Global company a MNC that centralizes management and other decisions in the home country
Transnational (borderless) organization a MNC in which artificial geographical barriers are eliminated
Global sourcing purchasing materials or labor from around the world wherever it is the cheapest
Exporting making products domestically and selling them abroad
Importing acquiring products made abroad and selling them domestically
Licensing an organization gives another organization the right to make or sell its products using its technology or product specifications
Franchising an organization gives another organization the right to use its name and operating methods
Strategic alliance a partnership between and organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities
Joint venture a 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
Free market economy an economic system in which resources are primarily owned and controlled by the private sector
Planned economy an economic system in which economic decisions are planned by a central government
National culture the values and attitudes shared by individuals from a specific country that shape their behavior and beliefs about what is important
Global Leadership and Organizational Behavior Effectiveness (GLOBE) program the 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
Created by: 1257641797
 

 



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