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MGMT 309 Ch. 5

Domestic Business
all things are bought and sold in one country
International Business
bases in one country but uses a meaningful amount of resources or revenues from other countries
Multinational Business
transcends national boundaries, gets material, borrows money, manufactures, and sells its products in a world-wide market
Global Business
transcends national boundaries and is not committed to a single home country
There is not one in existence today
Licensing
allowing someone else to use your patents, branding in another country
Strategic alliance and Joint venture
2 or more firms jointly cooperate for mutual gain
Direct investment
when a firm whose headquarters is based in another country builds or purchases operating facilities in a foreign country
3 Environmental Challenges of International Management
Economic environment
political and legal environment
cultural environment
Economic Environment
economic system, natural resources, infrastrucute
Political and Legal Environment
government stability, property rights, trade incentives relations and controls
Cultural Environment
Values, symbols, beliefs, language, individual behaviors
3 Controls on international Management
Tariffs
Quotas
Exports restraint agreements
5 individual differences across cultures
social orientation
power orientation
uncertainty orientation
goal orientation
time orientation
Social Orientation
importance of the individual verse the group
Individualism vs. Collectivism
Power Orientation
Power respect vs. Power Tolerance
Uncertainty Orientation
Acceptance vs. Avoidance
Goal Orientation
Aggressive vs. Passive
Time Orientation
Long vs. Short
US worker cultural profile
Social- high
Power- low
Uncertainty- low
Goal- high
Time- low
Planning challenges
understanding of both environmental issues and competitive issues
Organizing challenges
addressing issues of creating and managing operations on a world-wide scale
Leading challenges
Learning to interact with and motivate persons of different cultural, social, and economics backgrounds
Controlling challenges
integrating operations across time-zones, cultural factors, and varying communication methods

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