Chapter 3: Managing In A Global Environment (Week 3)

Front 1

Parochialism

Back 1

Viewing the world soley through your own perspectives, leading to an inability to recognize differences between people.

Front 2

Ethnocentric Attitude:

Back 2

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

Front 3

Polycentric Attitude:

Back 3

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

Front 4

Geocentric Attitude:

Back 4

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

Front 5

European Union(EU):

Back 5

A union of 27 European nations created as a unified economic and trade entity.
Euro: A single common European currency.

Front 6

Euro:

Back 6

A single common European currency.

Front 7

North American Free Trade Agreement (NAFTA):

Back 7

An agreement among the Mexican, Canadian, and U.S> governments in which barriers to trade have been eliminated.

Front 8

Association of Southeast Asian Nations (ASEAN):

Back 8

A trading alliance of 10 Southeast Asian nations.

Front 9

World Trade Organization (WTO):

Back 9

A global organization of 153 countries that deals with the rules of trade among nations.

Front 10

International Monetary Fund (IMF):

Back 10

An organization of 185 countries that promotes international monetary cooperation and provides advice, loans, and technical assistance.

Front 11

World Bank Group:

Back 11

A group of five closely associated institutions that provides financial and technical assistance to developing countries.

Front 12

Organization for Economic cooperation and Development (OECD):

Back 12

an international economic organization that helps its 30 member countries achieve substainable economic growth and employment.

Front 13

Multinational Corporation (MNC):

Back 13

A broad term that refers to any and all types of international companies that maintain operations in multiple countries.

Front 14

Multidomestic Corporation:

Back 14

An MNC that decentralizes managment and other decisions to the local country.

Front 15

Global Company:

Back 15

An MNC that centralizes managment and other decisions in the home country.

Front 16

Transnational or Borderless Organization:

Back 16

An MNC in which artifical geographical barriers are eliminated.

Front 17

Global Sourcing:

Back 17

Purchasing materials or labor from around the world whenever it is cheapest.

Front 18

Export:

Back 18

Making products domestically and selling them abroad.

Front 19

Importing:

Back 19

Acquiring products made abroad and selling them domestically.

Front 20

Licensing:

Back 20

an organization gives another organization the right to make or sell its products using its technology or product specifications.

Front 21

Franchising:

Back 21

An organization gives another organization the right to use its name and operating methods.

Front 22

Strategic Alliance:

Back 22

A partnership between an organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities.

Front 23

Joint Venture:

Back 23

A specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose.

Front 24

Foreign Subsidiary:

Back 24

Directly investing in a foreign country by setting up a separte and independent production facility or office.

Front 25

Free Market Economy:

Back 25

An economic system in which resources are primarily owned and controlled by the private sector.

Front 26

Planned economy:

Back 26

An economic system in which economic decisions are planned by a central government.

Front 27

National Culture:

Back 27

The values and attitudes shared by individuals from a specific country that shape their behavior and beliefs about what is important.

Front 28

Global Leadership and Organizational Behavior effectiveness Program:

Back 28

The research program that studies cross-cultural leadership behaviors.

Front 29

Cultural Intelligence:

Back 29

Cultural awareness and sensitivity skills.

Front 30

Global Mind-Set:

Back 30

Attributes that allow a leader to be effective in cross cultural environments.