Chapter 3 management In a global environment and chap 4 diversity

Question 0

Global perspectives

Answer 0

Ethnocentric
Polycentric
Geocentric attitude

Question 1

Parochialism

Answer 1

Is viewing the world solely through one’s own eyes and perspectives

Falling into the trap of ignoring others values

Question 2

Ethnocentric attitudes

Answer 2

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

Question 3

Polycentic attitude

Answer 3

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

Question 4

Geocentric attitude

Answer 4

A world-oriented view that focuses on using the best approaches and people from around the globe.

Question 5

The European Union (EU)

Answer 5

A unified economic and trade entity

Question 6

North American Free Trade Agreement (NAFTA)

Answer 6

Eliminated barriers to free trade (tariffs, import licensing requirements, and customs user fees)

Question 7

Trade barrier terms

Answer 7

Protectionism
Tariff
Nontariff barriers
---quotas
---government import standard
---subsidies

Question 8

The World Trade Organization (WTO)

Answer 8

Evolved from the General Agreement on Tariffs and Trade (GATT) in 1995

• functions as the only global organization dealing with the rules of trade among nations.
• has 149 member nations and 32 observer governments.
• monitors and promoted world trade.

Question 9

Multinational Corporation MNC

Answer 9

Maintains operations in multiple countries

Question 10

Multi-domestic Corporation

Answer 10

Is an MNC that decentralizes management and other decisions to the local country.

Question 11

Global company

Answer 11

Is an MNC that centralizes it’s management and other decisions in the home country

Question 12

Transnational Corporation (Borderless Organization)

Answer 12

Is an MNC that has eliminated structural divisions that impose artificial geographic barriers and is organized along business lines that reflect a geocentric attitude

Question 13

Exporting

Answer 13

Manufacturing products in a firms home country and shipping them to a foreign market

Question 14

Licensing

Answer 14

Arrangements that allow a local firm in the new market to manufacture and distribute a firms product

Question 15

Strategic alliances

Answer 15

Cooperative arrangements between two firms in which they agree to share resources to accomplish a mutually desirable goal

Question 16

Cross-border acquisitions

Answer 16

Acquisitions of local firms made by foreign firms to enter a new international market

Question 17

Wholly owned subsidiaries

Answer 17

Direct investments to establish a business in a foreign market in which the business is 100% owned and controlled by the local firm; also called Greenfield Venture

Question 18

Free market economy

Answer 18

An economy in which resources are primarily owned and controlled by the private sector

Question 19

Planned economy

Answer 19

An economy in which all economic decisions are planned by a central government

Question 20

Monetary and financial factors

Answer 20

• -Currency exchange rates
• -inflation rates
• -diverse tax policies

Question 21

Hofstede’s Dimensions of Culture

Answer 21

• -individualism vs collectivism
• -power distance
• -uncertainty avoidance
• -achievement vs nurturing
• -long term vs short term orientation

Question 22

Glass ceiling

Answer 22

The invisible barrier that separates women and minorities from top management positions

Question 23

Civil rights Act, title 7

Answer 23

Prohibits discrimination based on race, color, religion, national origin, or gender

Question 24

American with Disability Act

Answer 24

Prohibits discrimination against individuals who have disabilities or chronic illnesses; also requires reasonable accommodations for these individuals

Question 25

Family and medical leave act

Answer 25

Gives employes in organizations with 50 or more employees up to 12 weeks of unpaid leave each year for family or medical reasons

Question 26

Role of EEOC

Answer 26

Filing a claim
Confidentiality
Mediation and Remedies

Question 27

BFOQ (Bona Fidel Occupational Qualification)

Answer 27

A condition reasonably necessary to the normal operation of that particular business or enterprise

Question 28

Affirmative action:

Answer 28

Created by Executive Order 11246, mandate for those businesses doing business with the federal government