ch 4

Question 1

ethnocentric

Answer 1

belief that the best work approaches and practices are those of the home country

Question 2

polycentric

Answer 2

view that managers in the host country know best approaches and practices for running their business

Question 3

geocentric

Answer 3

a world oriented view that focuses on using the best approach and ppl from around the globe

Question 4

what are the regional trade alliances?

Answer 4

WTO - world trade org
IMF - International Money fund
World Bank Group

Question 5

WTO

Answer 5

dealing with rules of trade among nations
monitors and promotes world trade (164 members)
developed from GAAT 1995

Question 6

IMF

Answer 6

org of 188 countries
promotes int monetary coop and provides member countries w policy advice
provides temp loans and tech assistance to maintain financial stability and strengthen economies

Question 7

World Bank Group

Answer 7

group of 5 closely associated institutions all owned by member countries that provide vital financial and technical assistance to developing countries around the world

Question 8

how do orgs go global?

Answer 8

global sourcing –> export/import, licensing, franchising –> strategic alliance joining venture, foreign subsidiary

Question 9

licensing

Answer 9

giving another org the right to use its brand name

Question 10

franchising

Answer 10

a service/org gives right to sell product

Question 11

strategic alliance

Answer 11

partnership bw domestic and foreign companies and share knowledge and resources to creating new products or building new facilities

Question 12

foreign subsidiary

Answer 12

direct investment in a foreign country

Question 13

hofesteads framework

Answer 13

individualism vs collectivism
power distance
uncertainty avoidance
achievement vs nurturing
LT vs ST orietation