MGT 304 Study Guide - MGT 304 Study Guide 1...

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MGT 304 Study Guide 1. Globalization (find references from text & assigned readings) o Developed Countries Advantages Cheaper labor More efficient Potential for higher standard of living Cheaper prices Disadvantages Some people lose their jobs – cheaper labor elsewhere More competition o Developing Countries Advantages Higher income More job opportunity Access to more cultures, customs from around the world, goods Cheaper goods due to competition Import & Export goods More purchasing power Disadvantages Lacking technology – don’t have enough $ or resources Developed countries take advantage of them because cheap labor, can’t sustain economy Monoculture – English o Losing local identity Exploitation of workers Local companies pushed out of business Wage gap widened 2. Tom Friedman’s 3 Globalization Eras & 3 Convergences o Globalization Eras Globalization 1.0 (1492 – 1800) World shrunk from large to medium Went global through your country Globalization 2.0 (1800 – 2000) World shrunk from medium to small Companies globalizing Globalization 3.0 (2000 – Present) World shrunk from small to tiny Individuals and groups globalizing o Example: Al Queada can’t be successful without the use of internet – upload videos to inspire/recruit people
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**No such thing as American job anymore o Offshoring o Outsourcing o People other than white Westerners have advantage o Can work from wherever you want – virtual network, technology change o 3 Convergences 1) All 10 Flatteners converged – work together Create the flat world Created global web to connect, new platform 2) Learn to horizontalize ourselves Adapt Value added by who you connect or collaborate with Different habits/structures change to boost productivity o Example: e-ticket with Southwest 3) India, China, Soviet Empire open up Work could be done more cheaply and effectively 3. Features of Culture o Features Facial expression, Gestures, Notions of time, Pace of life, Paintings, Values, Holiday customers, Food, Concept of beauty, Emotional display, Eye contact, Eating habits, Music, Concept of fairness, Child raising beliefs, Belief about human nature, Motivations for achievement, Role of adults and children within the family, Religious beliefs, Importance of time, Concept of self, Concept of leadership, Literature, Nature of friendship, General world view, Work ethic, Importance of face and harmony, Rules of social etiquette, Concept of personal space, Styles of dress, Notion of modesty, Religious rituals o Tree analogy of culture Weather (clouds, rain, sun) shows interaction with environment Branches = visible features of culture; explain unwritten expectations, values, norms Rites, rituals, ceremonies Stories, legends, heroes Rules, policies, slogans Language & behaviors Control systems Symbols & artifacts Roots = invisible features Core beliefs & commonly held assumptions o
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