Notes - MCGR 362 International Business Ultimate Goals Task...

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MCGR 362 - International Business Ultimate Goals - Task competences - Contextual competences - International Mindset - Indp. Critical Thinking - Motivation and passion Overview and Global Marketplace Definition of IB: - Any business transaction between parties from more than one country - Transactions: finance, supply, production, sale - Parties: companies, private individuals, governments International Business Activities - Imports and Exports o Goods o Services - International Investments o FDI (>10%) o Foreign Portfolio Investments (<10%) - International Licensing - International Franchising o Sell a bundle of trademarks and operating system o Ex: McDonalds - International Management Contract o Give trademarks and management resources (Human Resources to train, run business) o Ex: Hilton o Prevents destruction of brand name Causes of Globalization Strategic Imperatives - Core competences - Resource Acquisitions - New Markets - Competition o Must follow competitions because you don’t want competitors to have the ability to gain in new markets and use that to strengthen against you Environmental Changes - Political changes - Technological changes May 5, 2011 International Business Environment The Role of Culture Culture
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- Collection of value, beliefs, behavior, customs and attitudes that distinguish one society from another o Learned behavior o Elements are interrelated and self-reinforcing Cultures thus get stronger over time When unaligned, frictions can develop over time o Adaptive to external pressures Wars, intervention, etc can change culture or force changing culture to remain the same o Shared Controversial – was shared in the past, is it now? Japan vs. Canada Elements - Language o Can reveal cultural values o Can be used as a competitive advantage, or disadvantage o Important as a cultural stabilizer – not just communication, can refer to identity o Different business language* US vs UK – see slide if it seems important - Communication o Visuals, etc. o Important to pay attention to “death colors” – using wrong colors in wrong country, important to understand these interpretations - Religion - Values and attitudes - Social structure o How a society is hierarchical and how easy or difficult it is to go up or down (social mobility) – how closed they are Things to pay attention to in a business meeting + - Punctuality USA, Canada, UK, Germany, Scandinavia Latin America Pleasantries before the business meetings Asia, Arab countries, Southern Europe USA, Canada, Northern Europe Distance in a conversation USA, Canada Latin America Direct language Germany, Scandinavia Japan, China, Korea, Arab countries Sense of humor UK, Denmark, USA Germany, France Establishing dominance in conversations USA Asia Religion and Ethical Implications Implication: - Christianity – Max Weber and his theories linked to capitalism - Arabic country banks do not charge interest rates (fee that is often pegged is used) o Kaiser, Turkey – Islamic cultivism
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