Managing in a Global Environment Part 2 Chapter 4

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Managing in a Global Environment Part 2 | Chapter 4 • Chapter 4 | Managing in a Global Environment Part 2 • Principles of Management • Introduction Management in Urdu/Hindi • Management Stephen P Robbins Mary Coulter • Learning outline: • What is Global Perspective? • Explain and compare the parochialism, ethnocentric, polycentric, and geocentric attitudes towards global business. • Understanding the Global Environment • Describe the current status of the European Union. • Discuss the North American Free Trade Agreement and other regional trade alliances. • What is EU, IMF, World Bank • Discuss the role of the WTO. • Doing Business Globally • Contrast MNCs and borderless organizations. • Define exporting, importing, licensing, and franchising. • Describe global strategic alliances, joint ventures, and foreign subsidiaries. • Managing in a Global Environment: Explain how the global legal-political, economic environment affects managers. Discuss Hofstede’s five dimensions for assessing cultures. • What is Parochialism? Viewing the world solely through your own perspectives, leading to an inability to recognize the difference between people. • What is Ethnocentric Attitude? The parochialistic belief that the best work approaches and practices are those of the home country. • What is Polycentric Attitude? The view that the managers in the host country know the best work approaches and practices for running their business. • What is Geocentric Attitude? A world-oriented view that focuses on using the best approaches and people from around the globe. • What are the Regional Trading Alliances? • The European Union (EU) – A union of 27 European countries created as a unified economic and trade entity. A unified economic and trade entity. Economic and monetary union and Euro is single common European currency. • North American Free Trade Agreement (NAFTA) Eliminated barriers to free trade (tariffs, import licensing requirements, and customs user fees) United States, Canada, and Mexico • Association of Southeast Asian Nations (ASEAN) Trading alliance of 10 Southeast Asian nations • African Union the African Union is a continental union consisting of 55 member states located on the continent of Africa. • East African Community the East African Community is an intergovernmental organization composed of six countries in the African Great Lakes region in eastern Africa. • What is South Asian Association for Regional Co-operation (SAARC)? • What is Global Trade Mechanism ? • Global trade among nations does not happen on its own. As trade issues arise, global trade systems ensure that trade continues effectively and efficiently . • What is the World Trade Organization (WTO)? • Deals with the global rules of trade between nations. • The World Trade Organization (WTO) Evolved from the General Agreement on Tariffs and Trade (GATT) in 1995. Functions as the only global organization dealing with the rules of trade among nations. Has 164 member nations. Monitors and promotes world trade. • What is International Monetary Fund? An organization of 190 countries that promotes international Monterey cooperation and provide advice, loans and technical assistance. • The World Bank Group? A group of five closely associated institutions that provides financial and technical assistance to developing countries. • What are Different Types of International Organizations? • 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 (Think locally to act globally) • Global Company • A MNC that centralizes management and other decisions in the home country. • Transnational or Borderless Organization • A MNC in which artificial geographical barriers are eliminated. • How Organizations go global? • Global Sourcing – Purchasing materials or labor from around the world wherever it is cheapest. • Exporting – Making products locally and selling them aboard. • Importing – Acquiring products made aboard and selling them locally. • Franchising – An organization gives another organization rights to use its name and operating method. • Licensing - An organization gives another organization rights to make or sell its products using its technology or product specifications. • Strategic Alliance – A partnership between an organization and foreign company partner (s) in which both share resources and knowledge in developing new products or building new production facilities. • Joint venture – A specific type of strategic alliance in which the partner agrees to for a separate, independent organization for some business purpose. • Foreign Subsidiary • #ManaginginaGlobalEnvironment #IntroductionManagementinUrduHindi #PrinciplesofManagement #Ethnocentric #ManagementStephenPRobbinsMaryCoulter • Thank you for your time and interest, stay connected for learning. • #Knowledgesharing

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