Exam3FC_2 - Ethnocentric Attitude Parochialism Viewing the...

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Unformatted text preview: Ethnocentric Attitude Parochialism Viewing the world solely through your own perspectives, leading to an inability to recognize differences between people. The parochialistic belief that the best work approaches and practices are those of the home country. Geocentric Attitude Polycentric Attitude The view that the managers in the host country know the best work approaches and practices for running their business. A world-oriented view that focuses on using the best approaches and people from around the globe. Euro European Union A union of 25 European nations created as a unified economic and trade entity. A single common European currency. Association of Southeast Asian Nations (ASEAN) NAFTA An agreement among the Mexican, Canadian, and U.S. governments in which barriers to trade have been eliminated. A trading alliance of 10 Southeast Asian nations. Multinational Corporations (MNCs) World Trade Organization (WTO) A global organization of 149 countries that deals with the rules of trade among nations. A broad term that refers to any and all types of international companies that maintain operations in multiple countries. Global Company Multidomestic Corporation An international company that decentralizes management and other decisions to the local country. An international company that centralizes management and other decisions in the home country. Born Global Transnational or Borderless Organization A type of international company in which artificial geographical barriers are eliminated. An international company that chooses to go global from inception. Exporting Global Sourcing Purchasing materials or labor from around the world wherever it is cheapest. Making products domestically and selling them abroad. Licensing Importing Acquiring products made abroad and selling them domestically. An organization gives another organization the right to make or sell its products using its technology or product specifications. Strategic Alliances Franchising An organization gives another organization the right to use it name and operating methods. Partnerships between an organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities. Wikis Joint Venture A specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose....
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Exam3FC_2 - Ethnocentric Attitude Parochialism Viewing the...

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