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COB 300 Management Final Exam Study Guide
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COB 300 Management Final Exam Study Guide
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COB 300 Management Final Exam StudyGuide
Chinese term for energy - Answers -qi
The Lucky Dragon Case Study Main Points - Answers -- Cultural Issues: Americans are
very individualistic, people in Hong Kong focus on collectivism
- Outlook on Medicine: Western countries use medicines and pharmaceuticals, in Asian
counties eastern medicine is utilized (acupuncture and cupping)
- Operations: additional costs
- Market Research: they (Hong Kong) would ask their customers what to sell
- Finance: what additional expenses to account for
- Management: how to manage companies overseas v. domestically
Three Types of Managers - Answers -1. Ethnocentric
2. Polycentric
3. Geocentric
Ethnocentric Managers - Answers -- "We know best"
- They believe their native country, culture, language, and behavior are superior to
others
- Nobody else can do well... "send them Americans" or "I will do it myself"
- "Not-Invented-Here Syndrome"
Not Invented Here Syndrome - Answers -Syndrome in which people, e.g. managers,
refuse to use perfectly good ideas developed elsewhere in favor of their " sometimes
inferior " internally-developed ideas.
Polycentric Managers - Answers -- "They know best"
- They believe managers in foreign offices best understand native culture, staff, and
practices and should be left along by the home office
- Many things that are done in countries that are done really well -- if a HQ found a plan
that works really well.for them, why wouldn't they use it in a different country?
Geocentric Managers - Answers -- "What is best is what is effective, regardless of
origin"
- This is the type of manager you should strive to be
- "I do not care where the idea came from, we are going to do what is best for the
company"
US Statistics v. World - Answers -- 38th in math
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