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Management Chapter-3
Robbins & Coulter 11th Edition
| Question | Answer |
|---|---|
| Parochialism | viewing the word solely through your own perspectives, leading to an inability to recognize differences between people |
| Ethnocentric attitude | the parochialistic belief that the best work approaches and practices are those of the home country |
| Polycentric attitude | the view that the managers in the host country know the best work approaches and practices for running their business |
| Geocentric attitude | a world-oriented view that focuses on using the best approaches and people from around the world |
| European Union (EU) | a union of 27 European nations created as a unified economic and trade entity |
| Euro | a common European currency |
| North American Free Trade Agreement (NAFTA) | an agreement among the Mexican, Canadian and U.S. governments in which barriers to trade have been eliminated |
| Association of Southeast Asian Nations (ASEAN) | a trading alliance of 10 Southeast Asian nations |
| World Trade Organization (WTO) | a global organization of 153 countries that deals with the rules of trade among nations |
| International Monetary Fund (IMF) | an organization of 185 countries that promotes international monetary cooperation and provides advice, loans, and technical assistance |
| World Bank Group | a group of 5 closely associated institutions that provides financial and technical assistance to developing countries |
| Organization for Economic Cooperation and Development (OECD) | an international economic organization that helps its 30 member countries achieve sustainable economic growth and employment |
| Multinational corporation (MNC) | a broad term that refers to any and all types of international companies that maintain operations in multiple countries |
| Multidomestic corporation | a MNC that decentralizes management and other decisions to the local country |
| Global company | a MNC that centralizes management and other decisions in the home country |
| Transnational (borderless) organization | a MNC in which artificial geographical barriers are eliminated |
| Global sourcing | purchasing materials or labor from around the world wherever it is the cheapest |
| Exporting | making products domestically and selling them abroad |
| Importing | acquiring products made abroad and selling them domestically |
| Licensing | an organization gives another organization the right to make or sell its products using its technology or product specifications |
| Franchising | an organization gives another organization the right to use its name and operating methods |
| Strategic alliance | a partnership between and organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities |
| Joint venture | a specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose |
| Foreign subsidiary | directly investing in a foreign country by setting up a separate and independent production facility or office |
| Free market economy | an economic system in which resources are primarily owned and controlled by the private sector |
| Planned economy | an economic system in which economic decisions are planned by a central government |
| National culture | the values and attitudes shared by individuals from a specific country that shape their behavior and beliefs about what is important |
| Global Leadership and Organizational Behavior Effectiveness (GLOBE) program | the research program that studies cross-cultural leadership behaviors |
| Cultural intelligence | cultural awareness and sensitivity skills |
| Global mind-set | attributes that allow a leader to be effective in cross-cultural environments |
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