Human Resource Management ch 4, 5,

context

the situational or environmential characteristics that influence out behavior

countertrading

bartering goods for goods

cross-cultural awarness

the ability to operate in different cultural settings

culture

the shared set of beliefs, values, knowledge, & patterns of behavior common to a group of people

embargoes

a complete ban on the import or export of certain products

ethnocentric managers

managers who beleive that their native country, culture, lanaguage, & behavior are superior to all others

european union (EU)

union of 27 trading partners in Europe

exchange rates

the rate at which the currency of one area of county can be exchanged for the currency of anothers

expatriates

people living or working in a foreign country

exporting

producing goods domestically & selling them outside the country

expropriation

a governments seizure of a domestic or foreign companys assets

foreign corrupt practices act (1978)

act that makes it illegal for employees of U.S. companies to make “questionable” or “dubious” contributations to political decision makers in foreign nations

franchising

a form of licensing in which a company allows a foreign company to pay it a fee & a share of the profit in return for using the first companys brand name & a package of materials & services

free trade

the movement of goods & services among nations without political or economic obstruction

geocentric managers

managers who accept that there are differences & similarities between home & foreign personnel & practices & that they should use whatever techniques are most effective

global economy

the increasing tendency of the economics of the world to interact with one another as one market instead of many national markets

globalization

the trend of the world economy toward becoming a more interdependent system

global outsourcing

also called offshoring, use of suppliers outside the united states to provide labor, goods, or services

global village

the “shrinking” of time & space as air travel & the electronic media have made it easier for the people around the globe to communicate with one another

GLOBE project

a massive & ongoing cross-cultural investigation of 9 cultural dimensions involved in leadership & organizational processes

greenfield venture

a foreign subsidiary that the owning organization has built from scratch

high-context culture

culture in which people rely heavily on situational cues for meaning when communicating with others

Hofstede model for 4 cultural dimensions

identifies 4 dimensions along which national cultures can be places: (1) individualism/collectivism, (2) power distance, (3) uncertainty avoidance, and (4) masculinity/feminity

import quotas

a trade barrier in the form of a limit on the numbers of a product that can be imported

importing

buying goods outside the country & reselling them domestically

licensing

company X allows a foreign company to pay it a fee to make or distribute X’s product or service

low-context culture

culture in which shared meanings are primarily derived from written & spoken words

maquiladoras

foreign-owned manufactoring plants allows to operate in Mexico with special privilages in return for employing Mexican citizens

monochronic time

the standard kind of time orientation in U.S. business, a preference for doing one thing at a time

most favored nation

this trading status describes a condition in which a country grants other countries favorable trading treatment such as the reduction of import duties

multinational corporations

a business firm with operations in several countries

multinational organization

a nonprofit organization with operations in several countries

north american free trade agreement (NAFTA)

a trading bloc consisting of the united states, canada, & mexico

offshoring

also called global outsourcing, use of suppliers outside the united states to provide labor, goods, or services

outsourcing

using suppliers outside the company to provide goods & services

parochialism

a narrow view in which people see things solely through their own perspective

polycentric managers

managers who take the view that native managers in the foreign offices best understand native personnel & practices, & so the home office should leave them alone

polychronic time

the standard kind of time orientation in mediterranean, latin american, & arab cultures, a preference for doing more than one thing at a time

sanction

the trade prohibition on certain types of products, services, or technology to another country for a specific reason

tariffs

a trade barrier in the form of a customers duty, or tax, levies mainly on imports

trade protectionism

the use of government regulations to limit the import of goods & services

trading bloc

also known as a economic community, it is a group of nations within a geographical region that have agreed to remove trade barriers with one another

united states-mexico-canda agreement (USMCA)

the united states, mexico, & canada renegioated NAFTA in november 2018, drafting a new policy known as a united states-mexico-canda agreement (USMCA)

wholly owned subsidiary

a foreign subsidiary or subordinate section of an organization, that is totally owned & controlled by an organization

action plans

course of action needed to achieve a stated goal

business plan

a document that outlines a proposed firm’s goals, the strategy for achieving them, & the standards for measuring success

cascading goals

objectives are structured in a unified hierarchy, becoming more specific at lower levels of the organization

contingency plans

responses to possible future events that could threaten a companys operations

goal

also known as objective, a specific committment to achieve a measurable result within a stated period of time

long term goals

tend to span one to five & focus on achieving the strategies identified in a companys strategic plan

managament by objectives (MBO

4 step process in which (1) managers & employees jointly set objectives for the employee, (2) managers develop action plans, (3) managers & employees periodically review the employees performance, and (4) the manager makes a performance appraisal & rewards the employee according to results

means-end chain

a hierarchy of goals, in the chain of management )operational, tactical, strategic), the accomplishment of low level goals are the means of leading to the accomplishment of high level goods or ends

mission

an organizations purpose or reason for being

mission statements

statement that expresses the purpose of the organization

objective

also known as goal, a specific commitment to achieve a measurable result within a stated period of time

operating plan