Chap 4- INTERNATIONAL MANAGEMENT MULTINATIONAL CORPORATION (MNC): A business with extensive international operations in more than one foreign country. Multinational corporations include McDonald’s (headquartered in the U.S.), IKEA (headquartered in Sweden), Sony (headquartered in Japan), Swatch (headquartered in Switzerland), Hyundai (headquartered in Korea), and Nokia (headquartered in Finland). INTERNATIONAL MANAGEMENT: Involves managing operations in more than one country. International management is coordinating the efforts of others with the added challenges of paying attention to a broader array of stakeholder interests and preferences and to differences in culture. Managers of MNCs (see above) must be adept at international management. CULTURE: A shared set of beliefs, values, and patterns of behavior common to a group of people. A group’s culture refers to its language, foods, customs and traditions, songs, ways of rewarding and penalizing its members, etc. CULTURAL INTELLIGENCE:
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