International Management
Applying management concepts and techniques in a multinational environment.
Adapting management practices to different economic, political, and cultural contexts
Multinational Company (MNC)
a firm having operations in more than one country, international sales, and ...
International Management Exam 1 (Ch.
1,3,4,5)
International Management - ANSWERApplying management concepts and techniques
in a multinational environment.
Adapting management practices to different economic, political, and cultural contexts
Multinational Company (MNC) - ANSWERa firm having operations in more than one
country, international sales, and a nationality mix among managers and owners.
Globalization - ANSWERProcess of social, political, economic, cultural, and
technological integration among countries around the world.
The World Trade Organization - ANSWERThe global organization of countries that
oversees rules and regulations for international trade and investment
NAFTA - ANSWERa free trade agreement between the United States, Mexico, and
Canada that has removed most barriers to trade and investment
Off shoring - ANSWERProcess by which companies undertake some activities at
offshore locations instead of in their countries of origin.
Outsourcing - ANSWERSubcontracting or contracting out of activities to external
organizations that had been previously performed by the firm.
Benefits of Globalization - ANSWERWealth, Jobs, Technology, Lower prices,
Availability of goods
Criticisms of Globalization - ANSWEROff-shoring of business service jobs to lower-
wage countries. Growing trade deficits. Slow wage growth.
Environmental and social impacts.
Foreign Direct Investment - ANSWERInvestment in property, plant, or equipment in
another country
Ethics - ANSWERStudy of morality and standards of conduct.
Kantian Philosophical Traditions - ANSWERIndividuals (and organizations) have
responsibilities based on a core set of moral principles that go beyond those of narrow
self-interest.
Aristolean Virtue Ethics - ANSWERFocus on core, individual behaviors and actions and
how they express and form individual character. Decisions should consider impact on
community
Utilitarianism - ANSWERFavors the greatest good for the greatest number of people
under a given set of constraints.
, International Management Exam 1 (Ch.
1,3,4,5)
Eastern Philosophy - ANSWERViews the individual as part of, rather than separate
from, nature.
Corporate Social Responsibility - ANSWERInvolves the actions of a firm to benefit
society beyond requirements of the law and the direct interests of the firm
Human Rights Challenges for MNCs - ANSWERCurrently no universally adopted
standards of what constitutes acceptable behavior
Gender gap hiring - ANSWERrefusal to hire women for more than low-level jobs
Glass ceiling - ANSWERlack of promotion to management positions
Sexual harassment - ANSWERhostile work environment
Work Environment in China - ANSWERWorks are not paid well. Child labor
Environmental Kuznets Curve - ANSWEREnvironmental degradation increases as
income per capita increases until a point where (at a now higher income) citizens focus
on the impact on environment
Integrative Social Contract Theory - ANSWERAllows latitude for nations to create
concepts of fairness. Gives managers a framework to use when they face a gap
between the moral and ethical values in the home country and in the host country
Nongovernmental Organization - ANSWERPrivate, not-for-profit organization that seeks
to serve society's interests by focusing on social, political, and economic issues such as
poverty, social justice, education, health, and the environment.
Principles of Global Compact - ANSWERHuman Rights, Labor, Environment,
Anticorruption
Sustainability - ANSWERDevelopment that meets future needs without harming the
future
Walmart's Sustainability Goals - ANSWER100% renewable energy, achieve zero waste,
and green products and services.
How will management styles change - ANSWERfocus on future human needs and
environment
Corporate Governance - ANSWERThe system by which business corporations are
directed and controlled.
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