Studied by 0 people
Looks like no one added any tags here yet for you.
Ethnocentric Attitude
Belief that the best work approaches are those of the home country, dismissing foreign skills.
Polycentric Attitude
View that managers in the host country know the best practices for running businesses there.
Geocentric Attitude
World-oriented view focusing on using the best approaches and people from around the globe.
Parochialism
Viewing the world solely through one's own eyes and not recognizing other perspectives.
Regional Trading Alliances
Agreements among countries to promote trade and stimulate economic growth, such as EU, NAFTA.
World Trade Organization (WTO)
Global organization that deals with the rules of trade among nations, formed in 1995.
Multinational Corporation (MNC)
Company with operations in multiple countries, actively participating in international business.
Multidomestic Corporation
MNC that maintains significant operations in many countries but decentralizes management locally.
Global Company
MNC that centralizes management decisions in the home country and treats world markets as integrated.
Transnational Organization
A business approach that eliminates geographical barriers and uses global best practices.
Cultural Intelligence
The ability to understand and adapt to cultural differences in international environments.
Legal-Political Environment
The political climate and legal systems of a country that affect business operations internationally.
Economic Environment
Elements such as currency exchange rates, inflation, and tax policies that influence international business.
GLOBE Framework
A research program that extends Hofstede's dimensions with additional cultural dimensions for global managers.
Global Sourcing
Purchasing materials or labor from around the world to take advantage of lower costs.
Exporting
Making products in the home country and selling them in foreign markets.
Importing
Acquiring products made abroad and selling them in the home country.
Licensing
Granting another organization the right to use a brand name or technology for a fee.
Franchising
Allowing another organization to use a brand and operating methods, typically in services.
Strategic Alliance
Partnership between a domestic and foreign company to share resources and develop products.
Joint Venture
A specific type of strategic alliance where partners create a separate, independent organization.
Foreign Subsidiary
A direct investment in a foreign country by a company establishing a separate facility.
Note 
Flashcard (30)