ER Unit 2

Question 1

Global Management

Answer 1

• Management in organizations with business interests in more than one country

Question 2

Globalization

Answer 2

• The process of growing interdependence of these
components in the global economy
• Expansion of business on an international scale

Question 3

Multinational Corporations

Answer 3

extensive business operations in more than one foreign country e.g. Walmart

Question 4

Global Attitudes

Answer 4

Ethnocentric: Tendency to consider one’s own culture as superior to others.
• Poly centric attitudes: the belief that the best approach of work and practices of business are known by the employees of the host country
• Geocentric attitudes:A global perspective that emphasizes the usage of the best approaches and individuals from throughout the world.

Question 5

Ethics

Answer 5

• Code of moral principles.
• Set standards of “good” or “bad” or “right” or “wrong” in one’s conduct.

Question 6

Cultural Relativism

Answer 6

•Ethical behaviour is always determined by cultural context. No cultures ethics are superior

Question 7

Universalism

Answer 7

•behaviour unacceptable in one’s home environment should not be acceptable anywhere else.

Question 8

Outsourcing

Answer 8

obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.