exam 2 study guide lecture

exam 2 study guide lecture - Management Exam 1 Lecture...

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Management Exam 1 Lecture Notes Global Management Expanding internationality *follow the sun practices- pass off work from people in one time zone to those in another in order to assure that someone is always working on the project. Foreign direct investment- an acquisition of long-term interests in enterprises that operate outside of the economy of the investor (must have at least 10% equity ownership in the enterprise) Greenfield ventures- the owning organization builds a foreign subsidiary from scratch Expanding internationally Global outsourcing- hiring a company in another country to perform some organizational function Counter trading- bartering goods for goods Franchising o Companies that contribute a strong brand name tend to have a higher stake in their franchises The global manager Multinational companies require 3 types of specialists and 1 overseer- Global business managers- embody the needs for an integrated global strategy. Strive for standardization. Country managers- embody the need for responsiveness to local demands and opportunities Functional managers- manage the operations of a business by managing the organization’s resource Overseer- division head *the country manager is the key component of an organization with operations in several countries Must be geocentric- accepting the differences and similarities between personnel and between practices at home and abroad and using the techniques that are most effective. Global corporate citizenship was one of the greatest challenges facing global managers in the near future. Must have cultural intelligence- the natural ability of an outsider to interpret unfamiliar and ambiguous gestures the way that person’s compatriots would 3 components to cultural intelligence- cognitive, physical, emotional Hofstede’s model of cultural dimensions-
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Power distance- the extent to which the less powerful expect and accept power to be distributed unequally among people, institutions, and organizations Individualism Masculinity Uncertainty avoidance- the extent to which individuals are comfortable in unstructured situations. High = avoid unstructured situations Planning Connecting people to the purpose - assisting team members and employees understand why their efforts are important and connected to the organization Why is it important to connect people to the purpose? Employees who know the organization’s purpose are better able to monitor their own programs as well as the progress of the organization as a whole They can better coordinate their activities with those of the broader organization They can plan for themselves and the organization They are better able to deal with job-related and organization-wide uncertainty Planning- setting goals, determining how to achieve those goals, and dealing with uncertainty by developing future courses of action in order to achieve results Mission- reason for being
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exam 2 study guide lecture - Management Exam 1 Lecture...

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