University:
Eastern Kentucky University
Course:
MGT 301 | Principles of Management
Academic year:

2021
Views:

31

Pages:

12
Author:

Maverick Haynes

CHAPTER 4: GLOBAL MANAGEMENT ACROSS BORDERS - Globalization: the trend of the world economy toward becoming a more interdependent system - Global village: the , Canada, Mexico - European Union - 28 trading partners in Europe - APEC - group of 21 Pacific Rim countries - ASEAN - trading bloc of 10 countries in Asia Mercosur - trading bloc in Latin America CAFTA - Central America Cultural Dimensions: The GLOBE Project - Culture: shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people - Low-context culture: shared meanings are primarily derived from written and spoken words - high-context culture: people rely heavily on situational cues for meaning when communicating with others The Global Project's Nine Cultural Dimensions: - Power distance - Uncertainty avoidance - Institutional collectivism - In-group collectivism - Gender egalitarian - Assertiveness - Future orientation - Performance orientation - Human orientation Other Cultural Variations 1. Language 2. Interpersonal space 3. Communication 4. Time orientation a. Monchornic, polychronic 5. Religion 6. Law and political stability U.S. Managers on Foreign Assignments: Why Do They Fail? - Expatriates: people living or working in a foreign country - 10%-20% of all U.S. managers sent abroad returned early because of job dissatisfaction or adjustment difficulties CHAPTER 4 CONCEPT CHECK 1. When forced to select between a US-produced product and a less expensive imported product, _____ of Americans say they would choose the cheaper option. a. Two-thirds 2. Three important developments in globalization are the: a. rise of both megafirms and Internet-enabled minifirms worldwide b. rise of the