Chapter 4 Flashcards
(17 cards)
International Management
Deal with foreign employees/suppliers, customers/partners, and multinational corporations and organizations
Ethnocentric managers
We know best
Poly centric mangers
They know best
Geocentric managers
What’s best is what’s effective regardless of origin
Reason to expand Internationally
Availability of supplies, new markets, low labor cost, access to finance capital, avoid tariffs and import quotas
5 Ways to Expand
Global Outsourcing, Importing/Exporting/Counter-trading, Licensing and Franchising, Joint Ventures, Wholly Owned Subsidaries
Importance of National Culture
Learn culture well before beginning work so there will be no misunderstanding/miscommunications of expectations
Hofstede Model of Cultural Dimensions
The different culture aspects
Individualism vs Collectivism
Every man for themselves vs all for 1 and 1 for all
Power Distance
Title with name
Uncertainty Avoidance
Prefer structure or lack of structure
Long and Short term Orientation
Long term or short term views of goals
Masculinity/Feminity
Masculine or feminine
Culture Variations
Language, communication, religion, time orientation (mono or poly chronic), interpersonal space
Monochromic time
1 task at a time
Polychronic Time
Multitask
Reasons for failure
Often leave foreign assignments early due to challenges adjusting to culture
