MGMT 309 Ch. 5 – Flashcards
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Domestic Business
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all things are bought and sold in one country
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International Business
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bases in one country but uses a meaningful amount of resources or revenues from other countries
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Multinational Business
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transcends national boundaries, gets material, borrows money, manufactures, and sells its products in a world-wide market
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Global Business
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transcends national boundaries and is not committed to a single home country There is not one in existence today
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Licensing
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allowing someone else to use your patents, branding in another country
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Strategic alliance and Joint venture
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2 or more firms jointly cooperate for mutual gain
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Direct investment
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when a firm whose headquarters is based in another country builds or purchases operating facilities in a foreign country
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3 Environmental Challenges of International Management
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Economic environment political and legal environment cultural environment
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Economic Environment
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economic system, natural resources, infrastrucute
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Political and Legal Environment
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government stability, property rights, trade incentives relations and controls
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Cultural Environment
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Values, symbols, beliefs, language, individual behaviors
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3 Controls on international Management
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Tariffs Quotas Exports restraint agreements
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5 individual differences across cultures
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social orientation power orientation uncertainty orientation goal orientation time orientation
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Social Orientation
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importance of the individual verse the group Individualism vs. Collectivism
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Power Orientation
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Power respect vs. Power Tolerance
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Uncertainty Orientation
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Acceptance vs. Avoidance
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Goal Orientation
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Aggressive vs. Passive
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Time Orientation
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Long vs. Short
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US worker cultural profile
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Social- high Power- low Uncertainty- low Goal- high Time- low
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Planning challenges
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understanding of both environmental issues and competitive issues
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Organizing challenges
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addressing issues of creating and managing operations on a world-wide scale
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Leading challenges
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Learning to interact with and motivate persons of different cultural, social, and economics backgrounds
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Controlling challenges
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integrating operations across time-zones, cultural factors, and varying communication methods
