Ch04_IM_Daft AISE - Chapter 4 Managing in a Global...

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This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied, or distributed without the prior consent of the publisher. Chapter 4 Managing in a Global Environment Chapter Outline I. A Borderless World II. The International Business Environment III. The Economic Environment A. Economic Development B. Infrastructure C. Resource and Product Markets D. Exchange Rates IV. The Legal-Political Environment A. Political Risk and Instability B. Laws and Regulations V. The Sociocultural Environment A. Social Values B. Other Cultural Characteristics VI. International Trade Alliances A. GATT and the World Trade Organization B. European Union C. North American Free Trade Agreement (NAFTA) D. Other Trade Alliances E. The Globalization Backlash VI. Getting Started Internationally A. Outsourcing B. Exporting C. Licensing D. Direct Investing VII. The Multinational Corporation (MNC) VIII. Managing in a Global Environment A. Personal Challenges for Global Managers B. Managing Cross-Culturally
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This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied, or distributed without the prior consent of the publisher. 80 PART 2 The Environment of Management Annotated Learning Objectives After studying this chapter, students should be able to: 1. Describe the emerging borderless world. How important is international business to the study of management? If you are not thinking international, you are not thinking business management. The international dimension of management is becoming an increasingly important part of the external environment and its impact on the business world grows with the rapid advances in technology and communications. Companies find that thinking globally can provide a competitive edge. The reality of today’s borderless companies also means consumers can no longer tell from which country they’re buying. 2. Define international management and explain how it differs from the management of domestic business operations. International management is the management of business operations conducted in more than one country. The fundamental tasks of business management, including the financing, production, and distribution of products and services, do not change in any substantial way when a firm is transacting business across international borders. The basic management functions of planning, organizing, leading, and controlling are the same whether a company operates domestically or internationally. The difference between domestic and international operations is that managers will experience greater difficulties and risks when performing these management functions on an international scale. 3.
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This note was uploaded on 03/22/2009 for the course MANAGEMENT 5689-9856 taught by Professor Nialamnu during the Fall '08 term at Indiana State University .

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Ch04_IM_Daft AISE - Chapter 4 Managing in a Global...

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