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Global economy
Resource supplies, product markets, and business competition are worldwide, rather than local
Globalization
The process of growing interdependence of these components in the global economy
Management 9/e - Chapter 5 3
International management
Management in organizations with business interests in more than one country
Global manager
Informed about international developments Transnational in outlook Competent in working with multicultural people Aware of regional developments in a changing world
International businesses
Conduct for-profit transactions of goods and services across national boundaries
Market entry strategies involve the sale of goods or services to foreign markets but do not require expensive investments. Types of market entry strategies:
Global sourcing Exporting Importing Licensing agreement Franchising
Direct investment strategies require major capital commitments but create rights of ownership and control over foreign operations. Types of direct investment strategies:
Joint ventures Foreign subsidiaries
Management 9/e - Chapter 5 8
Study Question 2: What are multinational corporations and what do they do?
A multinational corporation (MNC) is a business with extensive international operations in more than one foreign country.
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Study Question 2: What are multinational corporations and what do they do?
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Study Question 2: What are multinational corporations and what do they do?
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Figure 5.2 What should go right and what can go wrong in MNC-host country relationships.
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Study Question 2: What are multinational corporations and what do they do?
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Study Question 2: What are multinational corporations and what do they do?
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Study Question 3: What is culture and how does it relate to global diversity?
Culture
The shared set of beliefs, values, and patterns of behavior common to a group of people.
Culture shock
Confusion and discomfort a person experiences in an unfamiliar culture.
Cultural intelligence
The ability to adapt and adjust to new cultures
Ethnocentrism
Tendency to consider ones own culture as superior to others.
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Study Question 3: What is culture and how does it relate to global diversity?
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Study Question 3: What is culture and how does it relate to global diversity?
Study Question 3: What is culture and how does it relate to global diversity?
Study Question 3: What is culture and how does it relate to global diversity?
Study Question 3: What is culture and how does it relate to global diversity?
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Comparative management
How management systematically differs among countries and/or cultures.
Global managers
Need to successfully apply management functions across international boundaries.
Management 9/e - Chapter 5 23