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Principles of Management > 3. Global Management > Flashcards

3. Global Management Flashcards

1
Q

Parochialism

/pəˈrəʊkiəlɪzəm/

A

viewing the world through your “own perspectives”

-> leading to an inability to recognize differences between people

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2
Q

Ethnocentric

/ˌeθnəʊˈsentrɪk/

A

view that “home country” has best work practices

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3
Q

Polycentric

A

view that managers in the “host country” know the best approaches

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4
Q

Geocentric

/ˌdʒiːəʊˈsentrɪk/

A

“world-oriented” view; wants to use best practices from around the globe

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5
Q

Regional Trading Alliances (liên minh thương mại khu vực)

Global competition and the global economy are shaped by regional trading agreements, including

A
  1. European Union (EU)
  2. North American Free Trade Agreement (NAFTA)
  3. Association of Southeast Asian Nations (ASEAN)
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6
Q

European Union (EU)

A

a union of “28 democratic European nations” created as a unified “economic and trade” entity with the Euro as a single common currency

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7
Q

North American Free Trade Agreement (NAFTA)

A

an agreement among the “Mexican, Canadian, and U.S. governments” in which “barriers to trade have been eliminated”

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8
Q

Association of Southeast Asian Nations (ASEAN)

A

a trading alliance of “10 Southeast Asian nations”

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9
Q

Other Trade Alliances

A
  • African Union (AU)
  • East African Community (EAC)
  • South Asian Association for Regional Cooperation (SAARC)
  • Trans-Pacific Partnership (TPP)
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10
Q

Global Trade Mechanisms (cơ chế)

A
  • World Trade Organization (WTO)
  • International Monetary
  • Fund (IMF)
  • World Bank Group
  • Organization for Economic - Cooperation and Development (OECD)
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11
Q

World Trade Organization (WTO)

A

global organization of 161 countries that deals with the rules of trade among nations

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12
Q

International Monetary Fund (IMF)

A

An organization of 188 countries that promotes international monetary cooperation and provides advice, loans, and technical assistance

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13
Q

World Bank Group

A

a group of very closely associated institutions that provides financial and technical assistance to developing countries

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14
Q

Organization for Economic Cooperation and Development (OECD)

A

an international economic organization that helps its 34 member countries achieve sustainable economic growth and employment

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15
Q

How Organizations Go International (minimal -> significant)

A
  1. Global sourcing ( Tìm nguồn cung ứng toàn cầu)
  2. Exporting and Importing (Xuất nhập khẩu)
  3. Licensing (Cấp phép)
  4. Franchising /ˈfræntʃaɪzɪŋ/
    (Nhượng quyền thương mại)
  5. Strategic /strəˈtiːdʒɪk/ Alliance /əˈlaɪəns/
    - Joint Venture (Liên minh Chiến lược - Liên doanh)
  6. Foreign Subsidiary /səbˈsɪdieri/ (Công ty con nước ngoài)
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16
Q

Global sourcing:

  • Multinational corporation (MNC)
  • Multidomestic corporation (IMF)
  • Global company
  • Transnational or borderless organization
A

purchasing /ˈpɜːrtʃəs/ materials or labor from around the world wherever it is cheapest

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17
Q
  1. Exporting

2. Importing

A
  1. making products domestically and selling them abroad

2. acquiring products made abroad and selling them domestically

18
Q

Licensing (Cấp phép)

A

an organization gives another organization the right to make or sell its products “using its technology or product specifications”

19
Q

Franchising (Nhượng quyền thương mại)

A

an organization gives another organization the right to “use its name and operating methods”

20
Q

Strategic Alliance (Liên minh Chiến lược)

A

partnership between an “organization and foreign company partner(s)” (in which both share resources and knowledge in developing new products or building production facilities)

21
Q

Joint Venture (Liên doanh)

A

A strategic alliance in which the partners agree to form a “separate, independent” organization for some business purpose

22
Q

Foreign Subsidiary

A

directly “investing in a foreign country by setting up a separate and independent production facility or office”

23
Q

Managing in a Global Environment

What challenges will a manager face in a new country?

A
  1. Political/Legal Environment
  2. Economic Environment
  3. Cultural Environment
24
Q

Political/Legal Environment

A
  • U.S. managers are accustomed to a stable legal and political system
  • Managers must stay informed of the specific laws in countries where they do business
  • Some countries have risky political climates
25
Q

Economic Environment

A
  1. Free Market Economy: an economic system in which resources are primarily owned and controlled by the “private sector”
  2. Planned Economy: an economic system in which economic decisions are planned by a central “government”
26
Q

Cultural Environment

A

National Culture—the values and attitudes shared by individuals from a specific country that shape their behavior and beliefs about what is important.

27
Q

Global Leadership and Organizational Behavior Effectiveness (GLOBE)

A

The GLOBE studies identified nine dimensions for assessing country cultures:

  1. Power distance
  2. Uncertainty avoidance
  3. Assertiveness (Tính quyết đoán)
  4. Humane orientation
  5. Future orientation
  6. Institutional collectivism
  7. Gender differentiation
  8. In-group collectivism
  9. Performance orientation
28
Q

Global Management in Today’s World

A
  1. The Challenge of Openness
  2. Cultural Intelligence
  3. Global Mind-Set
29
Q

The Challenge of Openness

A
  • Increased threat of terrorism (khủng bố)
  • Economic interdependence of trading countries
  • Intense fundamental cultural differences
30
Q

Cultural Intelligence

A

cultural awareness and sensitivity skills

31
Q

Global Mind-Set (definition and sections)

A

attributes that allow a “leader to be effective in cross-cultural environments”

  1. Intellectual capital
  2. Psychological capital
  3. Social capital
32
Q

Intellectual capital

A

Knowledge of international business and the capacity to “understand how business works on a global scale”

33
Q

Psychological capital

A

Openness to “new ideas and experiences”

34
Q

Social capital

A

Ability to form “connections and build trusting relationships with people who are different from you”

35
Q

Geert Hofstede identified five dimensions for assessing a country’s culture including:

A
  1. individualism-collectivism
  2. power distance
  3. uncertainty avoidance
  4. achievement-nurturing
  5. long-term/short-term orientation
36
Q

Explain the relevance of the political/legal, economic, and cultural environments to global business.

A
  • The laws and political stability of a country are issues in the global political/legal environment with which managers must be familiar
  • Managers must be aware of a country’s economic issues such as currency exchange rates, inflation rates, and tax policies.
37
Q

multinational corporation (MNC)

A

an international company that maintains operations in multiple countries

38
Q

multidomestic organization

A

MNC that decentralizes (phân quyền cho cấp dưới) management and other decisions to the “local” country (polycentric)

39
Q

global organization

A

MNC that centralizes (tập trung cho cấp trên) management and other decisions in the “home” country (ethnocentric)

40
Q

transnational organization

A

MNC that has eliminated artificial geographical barriers and uses the best work practices and approaches from “wherever” (geocentric)

Principles of Management (5 decks)

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