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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 International management: the


management of business operations
conducted in more than one country
 Fundamental management tasks stay the
same but become harder across borders
 Planning
 Organizing
 Leading
 Controlling

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Globalization: the extent to which trade
and investments, information, social and
cultural ideas, and political cooperation
flow between countries
 Result is that countries, businesses, and
people become increasingly
interdependent
 Fewer large international corporations
located in the U.S.

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Global mind-set: ability of managers to
appreciate and influence individuals,
groups, organizations, and systems that
represent different social, cultural, political,
institutional, intellectual, and psychological
characteristics
 Expand a global mind-set
 Thinking: curiosity
 Doing: relationships with people across
cultural and national boundaries
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 China, Inc.
 Largest or second-largest market for a
variety of products and services
 Relationships are more important than
contracts
 Regulations and government policies make
doing business in China a challenge

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 India, the service giant
 Second only to China in population
 Large English-speaking population makes it
a natural for U.S. companies outsourcing
services
 Rising power in software design, services,
and precision engineering
 Industry leader in IT outsourcing

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Multinational corporation: receives more
than 25% of its total sales revenues from
operations outside parent’s home country
 Characteristics
 Managed as integrated worldwide business
systems
 Controlled by a single management
authority
 Regard the entire world as one market

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Ethnocentric companies place emphasis
on their home countries
 Polycentric companies are oriented toward
the markets of individual foreign host
countries
 Geocentric companies are world oriented
and favor no specific country

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Bottom of the pyramid (BOP): proposes that
corporations can alleviate poverty and
other social ills as well as make significant
profits by selling to the world’s poorest
people
 Pyramid is defined by per-capita income
 More than 4 billion people are at the lowest
level of the economic pyramid

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Exporting: strategy in which the corporation
maintains its production facilities within the
home nation and transfers its products for
sale in foreign countries
 Global outsourcing: engaging in the
international division of labor so that work
activities can be done in countries with the
cheapest sources of labor and supplies
 Also called offshoring

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Partnerships
 Represent a higher level of involvement in
international trade
 Often the fastest, cheapest, and least risky
way to get into global business
 Joint venture: a company shares costs and
risks with another firm, typically in the host
country, to develop new products, build a
manufacturing facility, or set up a sales and
distribution network
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Political risk: the risk of loss of assets, earning
power, or managerial control due to
political events or actions by host
governments
 Includes government takeovers of property
and acts of violence directed against a
firm’s properties or employees
 Political instability: events such as riots,
revolutions, civil disorders, and frequent
changes in government
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Ethnocentrism: natural tendency of people
to regard their own culture as superior and
to downgrade or dismiss other cultural
values
 Hofstede’s value dimensions
 Four dimensions of national value systems
that influence organizational and employee
working relationships
 GLOBE Project (Global Leadership and
Organizational Behavior Effectiveness)
 Nine dimensions of national value systems
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Power distance: acceptance of inequality
in power among institutions, organizations,
and people
 Uncertainty avoidance: comfort level with
uncertainty and ambiguity
 Individualism: value for a loosely knit social
framework in which individuals are
expected to take care of themselves

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Collectivism: preference for a tightly knit
social framework in which individuals look
after one another and organizations
protect their members’ interests
 Masculinity: preference for achievement,
heroism, assertiveness, work centrality (with
resultant high stress), and material success
 Femininity: values relationships,
cooperation, group decision making, and
quality of life
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Fifth dimension developed later
 Long-term orientation: greater concern for
the future and highly values thrift and
perseverance
 Short-term orientation: more concerned with
the past and the present and places a high
value on tradition and meeting social
obligations

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Assertiveness: extent to which a society
encourages toughness, assertiveness, and
competitiveness
 Future orientation: extent to which a society
encourages planning for the future over
short-term results
 Gender differentiation: extent to which a
society maximizes gender role differences

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Performance orientation: extent to which a
society places emphasis on performance
and rewards people for improvement
 Humane orientation: degree to which a
society encourages and rewards people for
being fair, altruistic, generous, and caring

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 Implicit communication: people send and
receive unspoken cues, such as tone of
voice or body language, in addition to the
explicit spoken words when talking with
others
 Cultural intelligence (CQ): a person’s ability
to use reasoning and observation skills to
interpret unfamiliar gestures and situations
and devise appropriate behavioral
responses
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 High-context culture: people are sensitive
to circumstances surrounding social
exchanges
 Low-context culture: people use
communication primarily to exchange facts
and information; meaning is derived
primarily from words

© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 General Agreement on Tariffs and Trade
(GATT)
 Started by 23 nations in 1947
 Started as a set of rules to ensure
nondiscrimination, provide clear procedures,
settle disputes, and encourage participation
of lesser-developed countries in international
trade
 World Trade Organization (WTO)
 Maturation of GATT into permanent global
institute
 162 member countries by February 2016
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 European Union
 Alliance to improve economic and social
conditions among members
 Evolved into 28-nation European Union
 Goal is to create a powerful single-market
system for Europe’s millions of consumers,
allowing people, goods, and services to
move freely
 Euro: the single European currency that
replaced national currencies in many
European countries
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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 North American Free Trade Agreement
(NAFTA)
 Agreement that merged the United States,
Canada, and Mexico into a single market
 Opinions of its benefits are divided
 Trans-Pacific Partnership (TPP)
 A proposed trade agreement among 12
countries
 Supporters believe it will help the economy
 Others say that it doesn’t enforce labor and
environmental standards
© 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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